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Who Has The Best RV Financing Rates?

Published on June 10th, 2022 by Lynne Fedorick

Standing bearded man and seated woman looking at laptop on table in RV
Photo: Istock

How To Find The Best RV Financing Rates

If you buy an RV from an RV dealer, getting the best RV financing rates is super easy. This is because the RV dealer’s financing department is in the business of finding the best rates for their RV customers.

If you are buying an RV privately, you’ll need to do some research to get the best RV financing rate. If you are paying for your RV over a longer-term (more than 10 years), you’ll want to be sure to get the lowest rate. But who has the lowest RV financing rates right now?

3 Of The Lowest RV Financing Rates

With terms of up to 20 years, RV financing is more like a home mortgage than an auto loan. But an RV loan requires far less paperwork than a mortgage on a home.

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While it can be nearly impossible for a self-employed person to get a mortgage on a house, getting an RV loan is much easier. As long as you can show proof of income and your credit score is good, you can get an RV. We researched and found the lowest RV loan rates and the lending requirements of each lender.

1. Lightstream RV Loans

The starting rate for RV loans through Lightstream RV Loans is 4.49%. This lender will finance both motorhomes and trailer-style RVs up to $100,000.

Lending requirements:

Lightstream works exclusively with borrowers who have good or better credit, multiple credit accounts, and excellent repayment history. You’ll also need to prove you have stable and sufficient income to repay your loan.

2. Bank Of The West RV Loans

Bank of The West’s rates start at 4.74%. This lender will finance any class of motorhome and any type of RV trailer, but it must be 2010 or newer.

Loans must be between $10,000 and $2 million. If you are planning on buying a truck camper, pop-up, or tent trailer, you should be prepared to pay an extra 1% interest.

This lender has no problem with you living in your rig full-time though, and they will even decrease your interest rate by 1% if your rig is your full-time domicile.

Lending requirements:

Bank Of The West prefers borrowers that have credit scores of 680 or higher.

3. Truist RV Loans

Truist RV Loan rates start at 6.3%. They offer secured loans of $100,000 to $1.5 million for Class A and C motorhomes and unsecured loans of $5000 to $100,000 for any towable or any other type of RV.

Truist doesn’t allow the motorhomes it finances to be used as dwellings, so their financing is not suitable for people who wish to reside in their RV full-time. They don’t offer loans in Alaska, Hawaii, or Vermont.

Lending requirements:

Truist prefers borrowers with down payments and excellent credit scores of over 800 (in order to get their lowest interest rate). Rates go up to 8.3% for those with less than excellent credit scores.

One of the best parts about RVing is engaging with the community of traveling enthusiasts. iRV2 forums allow folks to chat with other RVers online, and get other perspectives on everything RVing, including products, destinations, RV mods, and much more.

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4 thoughts on “Who Has The Best RV Financing Rates?”

  1. I called Bank of the West and they wanted 11% interest for five years for excellent credit they are crazy!!!

  2. We financed our 2016 Essex with Bank of the West. The loan process went fairly smoothly, but getting the title and tags from them as full-timers has been horrendous. It’s been nearly 3 months now without tags…and the paperwork is still with the third party vendor…they are reviewing the paperwork! Everytime we call Bank of the West, we get a promise that they will call back, and nothing happens. We’ve escalated the issue mulitple times and still nothing. If I hadn’t paid them to do the registration I would do it myself! Frustrating!


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