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Best RV Loans of November 2023

My Financing USA, NASA FCU, and LightStream offer the best RV loans in 2023, but check with local lenders too

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Buying an RV to enjoy fun family adventures ranks as one of the top goals on many people’s lists. There’s nothing quite like the thrill of traveling to new outdoorsy places, all while having the same comforts of home for when summer thunderstorms kick up or cold shoulder-season temperatures would otherwise have you shivering in your sleeping bag.?

RVs are expensive, though. Depending on the type you’re looking to buy, you can expect to pay anywhere from $5,000 to $140,000 or more for a new model. That’s where finding the right financing comes into play. We’ve rounded up the best RV loans to help you enjoy more time on the road with less stress.?

Best RV Loans of November 2023

Most of the loans below are secured by vehicles, but you can also use an unsecured personal loan to finance a new or used RV. Rates may be higher and loan amounts may be lower, but you typically have easier applications and more flexibility. See the best personal loans to check your options.

Best for Low Rates : My Financing USA

My Financing USA

?My Financing USA

  • Used APR Range: 7.24%–19.95%
  • Used Loan Amounts: $10,000 and up
  • Used Loan Terms: 5–20 years
Pros & Cons
  • Among the lowest available interest rates

  • Low minimum credit score requirement

  • No mileage limit for used RVs

  • Lender network offers multiple loan options

  • Slow funding timelines

  • Potentially high service fee

  • Doesn’t offer loans for live-in RVs

Why We Chose It

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.??

Borrower Qualifications
  • Recommended minimum credit score: 550
  • Maximum debt-to-income ratio: 40%
  • States available: All except Hawaii
  • Must have a consistent source of income
  • May need to make a 10% to 15% down payment depending on credit and lender
Vehicle Qualifications
  • Maximum loan-to-value ratio: Varies by partner lender
  • Maximum accepted mileage: No maximum
  • Maximum accepted age of vehicle: Not specified
  • Private-party vehicle purchases allowed: Yes
  • Vehicles cannot be for commercial or full-time use?

Best Credit Union : NASA FCU



  • Used APR Range: 7.34%–18.00%
  • Used Loan Amounts: $5,000–$125,000
  • Used Loan Terms: 3–15 years
Pros & Cons
  • Skip-a-payment option

  • Great rates

  • Lower minimum loan

  • No discounts offered

  • Old vehicles are charged higher rates

  • No online application

Why We Chose It

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.?

Borrower Qualifications
  • Minimum credit score: Not disclosed
  • Minimum income: Not disclosed
  • Employment qualifications: Not disclosed
  • Membership requirements: Open to NASA employees, eligible employees of other organizations, members of the National Space Society (NSS), and relatives of members (membership to NSS starts at $25/year, and NASA FCU will pay for the first year)
  • States available: 50 states and D.C.
Vehicle Qualifications
  • Maximum loan-to-value ratio: 100%
  • Maximum accepted mileage: No maximum
  • Maximum accepted age of vehicle: No maximum
  • Private-party vehicle purchases allowed: No

Best for Large Used/Refinance Loans : Southeast Financial

Southeast Financial

?Southeast Financial

  • APR Range: 7.99% and up
  • Loan Amounts: $10,000–$4,000,000
  • Loan Terms: Up to 20 years
Pros & Cons
  • Loans up to $4 million

  • Low minimum credit score of 575

  • Many loan options from partner lenders

  • No loans for cheaper RVs

  • Conflicting loan information

  • Doesn’t offer loan pre-qualification

Why We Chose It

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.?

Borrower Qualifications
  • Minimum recommended credit score: 575
  • Minimum recommended down payment: 10% or more, in most cases
  • States available: 50 states and D.C.
Vehicle Qualifications
  • Maximum accepted age of vehicle: 12 years old
  • Maximum mileage: No maximum
  • Vehicles cannot be used for commercial purposes
  • Conversion vans and park models are not eligible for financing

Best for Quick Funding : LightStream



  • APR Range: 7.49%–16.14%* with autopay
  • Loan Amounts: $5,000–$100,000
  • Loan Terms: 2–12 years
Pros & Cons
  • No fees

  • Can be used for any RV

  • Same-day funding available

  • Stricter credit requirements

  • Doesn’t offer loan pre-qualification

  • Below-average customer satisfaction ratings

Why We Chose It

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.?

Unsecured loans are typically harder to get than secured loans unless you have good credit, and often come with lower loan limits, shorter term lengths, and higher interest rates too.?

Borrower Qualifications
  • Minimum recommended credit score: Good to excellent credit required
  • States available: 50 states and D.C.
  • Must be the age of majority in your state
  • Must have a verifiable source of income.
  • LightStream takes into consideration your credit history, assets, and debt-to-income ratio (DTI)
Vehicle Qualifications
  • Maximum accepted vehicle age: No maximum
  • Maximum accepted mileage: No maximum
  • Maximum loan-to-value ratio: No maximum
  • Allows private-party vehicle purchases: Yes

Best for Large New Loans : LendingTree



  • APR Range: 6.24%–19.95% (and possibly higher)
  • Loan Amounts: $5,000–$10,000,000
  • Loan Terms: 5–20 years
Pros & Cons
  • Largest new RV loan amounts

  • Low starting APR

  • Get offers from several lenders

  • Not very transparent

  • May generate a lot of spam

Why We Chose It

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.?

Borrower Qualifications
  • Recommended minimum credit score: Varies by lender
  • Qualifications vary by partner lender
Vehicle Qualifications
  • Qualifications vary by partner lender

Final Verdict

If you’re looking for the absolute lowest rates, try using the loan marketplaces My Financing USA and Southeast Financial first to get a good head start on finding the best RV loans—particularly if you have credit score challenges.?

If time is of the essence and you have good credit, LightStream may be your best option for an affordable loan. Finally, if you prefer working with a credit union and aren’t eligible for a better RV loan from a local lender, consider applying with NASA FCU, which accepts anyone as a member.

Guide to Choosing the Best RV Loans

What Is an RV Loan?

An RV loan is exactly what it sounds like—a loan used to purchase a recreational vehicle, or RV. Although that’s a rather broad descriptor, the term RV generally describes large vehicles used as temporary living quarters for camping and travel, including motor homes, travel trailers, truck campers, etc.?

Most RV loans are secured loans, meaning the RV itself serves as collateral for the loan. This makes them very similar to car loans, which are secured by the car you’re buying. Just like with a car loan, if you don’t repay your RV loan, your lender will repossess your RV. Since secured loans have that extra layer of built-in protection for lenders, they’re often more willing to offer lower rates and to approve less creditworthy applicants.

However, there’s one big difference between RV and car loans: RV loans are typically for much longer term lengths, since they’re generally larger loans. (An RV is essentially a big car that you can live in with all the comforts of home, after all.) Since lenders often charge higher interest rates on longer-term loans to begin with—and since you’ll probably pay that higher rate for longer—RV loans tend to be more expensive over the long run than your average car loan.

Check your budget before you purchase an RV to make sure you can afford the loan payments on top of all the other costs, like RV insurance, fuel, park admission, and campground fees.

Understand the Cost of an RV

RVs come with many considerations beyond those of a typical vehicle. For one thing, RVs tend to be much more expensive than cars, with prices ranging from a few thousand dollars to millions of dollars. Luxury RVs often come with additional amenities and internal features to make them comfortable for long-term occupation. When using your RV there may be additional costs to keep in mind, including campground rental and hookup fees.

How to Compare RV Loan Lenders

There are several factors to consider when comparing RV lenders. These include:

  • Annual percentage rate (APR): The lower the APR, the less you’ll end up paying over time. Shop around with a variety of lenders to find the lowest rates you can get.
  • Maximum loan amount: RVs can be much more expensive than other vehicles, so you should choose a lender with a maximum amount that meets your needs. Be sure to check the loan-to-value ratio, and make sure any extra costs will be covered.
  • Loan terms: Because RVs tend to be more expensive, they also often come with longer term lengths. Keep in mind that you’ll end up paying more interest over a longer term, and pay attention to the total cost you’ll end up paying for the loan.
  • Credit score requirements: Some lenders require borrowers to have a certain minimum credit score. To qualify for the best rates, try to get your credit score as high as possible before applying.

How to Apply for an RV Loan 

Applying for an RV loan is similar to the process of applying for a regular car loan. You’ll need to gather some documents and information beforehand, including your name, address, and Social Security number; figure out the type of RV you plan to purchase; and determine how much money you’ll need. Before you apply, you’ll likely need to save up a down payment of at least 10% to 20%.

You should also work to improve your credit score in order to qualify for lower interest rates, especially because RV loans tend to last a long time. It’s a good idea to compare quotes from different lenders in order to make sure you’re getting the best deal possible.

Frequently Asked Questions

  • When Is the Best Time to Buy an RV?

    The best time to buy an RV is after the camping season winds down in most of the country, typically between October and January. That’s when most people are looking to get rid of their current RVs and most dealerships are looking to offer deals during the seasonal lull in sales. RV shows can also be good places to negotiate a bargain with dealers, and these typically happen between January and March each year.

  • Are RV Loans Tax-Deductible?

    RV loans may be tax-deductible. If your RV has dedicated “sleeping, cooking, and toilet facilities,” then you may be able to claim it as a second home for the purposes of taking advantage of the home mortgage interest deduction. It’s best to speak with a tax professional who can advise you on your individual situation.?

  • What Is a Typical RV Loan Payment?

    RVs tend to vary in cost more than most cars do, making apples-to-apples comparisons difficult. Here are a few examples of what some RV loan payments might look like, however:

    New type A motorhome:

    • RV price: $100,000
    • Down payment: 10%
    • Loan term: 20 years
    • APR: 15%
    • Monthly payment: $1,185
    • Total interest paid: $194,427

    New travel trailer:

    • RV price: $30,000
    • Down payment: 15%
    • Loan term: 10 years
    • APR: 10%
    • Monthly payment: $396
    • Total interest paid: $17,574

    Used pop-up trailer:

    • RV price: $4,000
    • Down payment: 0%
    • Loan term: 5 years
    • APR: 8%
    • Monthly payment: $81
    • Total interest paid: $866
  • Are RVs a Good Investment?

    No, RVs are not usually seen as good monetary investments. If you get good use out of your RV it can be a good quality-of-life “investment,” but in purely financial terms, RVs aren’t a great investment if you’re hoping to sell one for more than you paid. According to J.D. Power, RVs tend to lose their value quite quickly. Unless you were one of the lucky people able to sell your used RV for a premium during the pandemic RV rush, chances are you’ll have to sell it at a loss when you do eventually part ways with it.


Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of auto loan lenders. To rate RV loans, we collected hundreds of data points across more than 15 RV loan lenders, including interest rates, fees, loan amounts, borrower requirements, and vehicle requirements, to ensure that our reviews help users make informed decisions for their borrowing needs.

Best RV Loans

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Article Sources
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