Best RV Loans of November 2023

My Financing USA operates a lender network, which means it’ll match you up with one of its partners rather than offering you a loan itself. That’s great because you’ll be casting a wider net, making it more likely to land on a good offer. Indeed, the network offers some of the cheapest RV loan rates around, especially if you have good credit.?

If your credit isn’t the best, you may still qualify for a loan because the company accepts people with relatively low scores. But the lower your score, the higher your rate is likely to be.

My Financing USA doesn’t disclose which lenders are in its network, unfortunately. And since it only presents you with one option it’s hard to know if you’ve already been considered by another lender when you go to shop around. It charges a service fee which ranges from $0 all the way to $495, potentially adding to your loan cost. This is in addition to any other fees your actual lender might charge, like origination fees. Funding can also be rather slow, taking up to eight days from the time you apply to when your loan closes, if you are approved.??

Most credit unions are only open to a small group of people, but NASA FCU allows anyone to join via a membership to the National Space Society. The credit union will even cover your first year's dues, after that you'll have to pay to remain a member of the National Space Society. You don’t need to be a member to get pre-qualified and to apply for the loan, but you will need to become a member if you’re approved. If you run into tough times, you may also be able to use the credit union's skip-a-payment option to take a month-long break from payments.

These factors, along with its attractive rates and flexible loan terms, help make NASA FCU our top-rated credit union that’s available to the general public.

The biggest downside is that you can’t use a NASA FCU RV loan to buy an RV from a private-party seller, meaning you’ll need to stick with the dealerships. Make sure to always pay on time, too, to avoid late payments. If you pay $500 per month, for example, a late payment could cost you as much as $75—far more than most other lenders.?

Southeast Financial is another lender marketplace, serving as a go-between for you and the actual lender providing the funds for your RV. Compared with most other RV lender networks, Southeast Financial offers the potential for the largest loans for used and refinanced RVs. Like most other lender networks, however, it provides very few—and often conflicting—specifics about the loans you might be offered and the lenders it works with.?

Southeast Financial may not be a good lender if you’re looking for a smaller RV loan since its lowest loan amount is $10,000. However, the lender makes credit accessible to most people with a minimum credit score of just 575. Just be careful not to borrow more than you need, though, lest you end up in more debt than you can handle.?

LightStream is a popular option for people with good credit looking for a low-cost, speedy personal loan—and that’s exactly what this is. Although the company markets several loan options, they’re all the same basic loan just repackaged for different purposes; LightStream loans used to finance vehicles tend to have lower rates than its loans for other purposes. That means its “RV loan” is actually an unsecured personal loan, which has its pros and cons. Namely, since it’s a personal loan, it means you can use it for whatever type of RV you want. 

It is an inexpensive loan, however. LightStream doesn’t charge any fees at all, ever, and it’ll even beat the rate of any identical loan offer by 0.10% (read: personal loans, not secured RV loans). It’s also one of the fastest lenders, and can wire the funds right into your account if you’re approved and set up the transfer before 2:30 p.m. ET on a business day.?

One final downside: the company ranked a bit below average among other personal loan lenders in J.D. Power’s 2023 survey of overall customer satisfaction.?

LendingTree is one of the largest loan marketplaces out there, including for RV loans. It has some downsides, but it’s worth considering if you’re looking for low rates and a higher-than-normal loan amount for a new RV. You can check rates and terms with a variety of companies, saving time and giving you an overview of where you stand as a borrower.

LendingTree has the rather annoying tactic of not disclosing any of the real details you need to make a good decision about whether to apply or not. That’s particularly bothersome since some of the (undisclosed) lenders it partners with may do a hard credit check on you before you even complete a full loan application with them. In addition, the company has a reputation for generating a lot of spam from potential lenders.?

If approved, LendingTree may present you with up to five loan offers, better than similar marketplaces that only come back to you with one.?