How Long Can You Finance An RV (And Why)?

Exact Answer: Up to 15 years

The financing terms for an RV would not be the same for all the banks. There are many factors such as credits unions and finance companies that would influence the finance terms of RV. Generally, everyone can finance an RV for around 15 years or even more if the financing company or bank allows it.

The loan time can be extended by the companies or banks if the conditions are satisfied. Purchasing a recreational vehicle would be a tough thing for people. This is the reason why people go for an RV loan. Everyone needs to get qualified for getting an RV loan.

There will be some lenders who would grant RV loans for both old and new recreational vehicles. Everyone can finance an RV from the bank, credit unions, RV dealership, and online lender. The person should always check all the conditions and criteria for financing an RV.

The person won’t be able to put efforts to make any collateral for the RV loan as the recreational vehicle would itself become the collateral for the loan.

How Long Can You Finance An RV

How Long Can You Finance An RV?

Finance An RVTime
In years15 years
In months180 months

The loan process for an RV would be almost similar to auto loans. People can get both long and short loans for the RV. The repayment terms for the RV loans would be around 2 to 15 years.  The person would have to deposit a few documents of verification before giving the loans.

The RV can be financed for around 20 years if the lender would get convinced for extending the loan repayment time. The amount someone is trying to take or borrow from the lender would decide how strict the terms of the loan would be. The lenders would check financial statements and tax returns for giving the RV loan.

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Everyone should maintain a good credit score for knowing if the person is eligible for the loan or not. Anybody who has a low credit score or inconvenient credit history may not get eligible for the loans. As the credits score for an RV should not be less than 700.

An inspection may be done by the lender for lending money to the person. The inspection may cost some money which has to be given by the person taking the loan. The terms and conditions of an RV loan would be almost similar to the consumer loan. The lender would charge interest for the money given to the person.

The process of an RV loan would start from the application. Once, the application is granted, then the person would have to sign an agreement. The agreement would contain all the conditions, guidelines, and terms required to be followed and fulfilled by the person taking the loan.

Why Can You Finance An RV For This Long?

There are many types of RV that people can get, and not all lenders would give all types of RV loans. The person needs to inform the lender if they want to use the recreational vehicle for the primary residence. The RV loans are given for a longer time as compared to the other types of loans.

Recreational vehicle loans are more expensive than other car or trucks loans. It’s always better to take a shorter RV loan to not repay the money on huge interest. Everybody can save their down payment to reduce the monthly payments. Nobody should have any back payments or missed payments in their credit history. As this would reduce the credit score of the person.

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Every person needs to choose the correct type of loan required for them. Not all RV loans would be suitable for the monthly payments of the person. It’s good to get secured RV loans as the interest would be less. People who have below-average credit should not take unsecured personal loans.

People should choose the correct RV lenders before taking the RV loan. Everyone can try to negotiate about any amount they want. Recreational vehicles come under the luxury items which can be expendable if a financial crisis occurs. Everyone should get insurance for qualifying for recreational vehicles.


The RV loans can be given for around 15 to 20 years. The person needs to do certain preparation for getting the RV loan. People should try to maintain their credit history, and score to not get disqualified for RV loans.

The person can get an RV loan with very little interest if they fulfill all the conditions required for an RV loan. Everyone can see quotes from lenders to see which one would be the best for them.



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Hi! I'm Nidhi.

Here at the EHL, it's all about delicious, easy recipes for casual entertaining. So come and join me at the beach, relax and enjoy the food.

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