RV Loans – The INSIDE Story, what YOU need to know before…

April 7, 2016 | By | 18 Replies More

RV Loans – Securing the BEST deal… (Part 5 of a “How to” Series”)

It’s fun to dream isn’t it? Many folks shop for RV’s, sometimes for years dreaming of the times they’ll have the lifestyle they’ll live. For many, turning that dream into reality requires a loan as RV’s (especially new RV’s) are a big ticket item.

Note: Following the suggestions in the following video and the information written here can help to save you THOUSANDS over the life of your RV loan.

RV loans are categorized as recreational loans. The significance of this designation is addressed in my video below… (after the video join me below the video as I share a few summary thoughts – and as always, feel free to add yours below using the reply feature on this page.)

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Summary thoughts:

  • Lenders are looking to issue loans to people whom they believe will pay them back! 
  • The better your credit score and debt:income ratio, the less you’ll pay for your loan
  • Credit unions and banks each have advantages to borrow from
  • Recreational loans incur a higher rate than auto loans, but typically run for a longer term
  • Loan interest on RV’s is potentially tax deductible – know your situation and relevant tax laws before doing so!

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RV Loans

RV Loans – Thoughts that could save you Thousands!




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Category: Lessons Learned - Buying, Maintaining, and Repairing an RV

About the Author ()

Alan Sills is a full-time RV'er and has been since 2011. A science educator at heart, Alan has realized that its important to maintain an income stream while "on the road". He writes about RV life, RV issues, and living an entrepreneurial lifestyle.

Comments (18)

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  1. Dean says:

    Thanks for the video and for all the usefull information you provide.

    Have a fantastic Friday !


  2. Laura says:

    Hello, I was wondering what the typical term is for an rv loan. Is it 10 years, more, less? I am just starting to investigate full time rving for my family and would love any insight. Thanks so much!

    • rvacrossamerica says:

      The length of the term is based upon a few factors: The amount of $ you’re borrowing (the more you borrow, the longer a term you can get – up to 20 yrs); your credit score (the better it is, the longer they’ll loan for); the age of the RV you’re looking to buy (the older it is, the shorter the term you’ll get – especially over 5 or 6 yrs old). Hope this helps. Al

  3. Tony F Brown says:

    what credit card do you have that give 50/0

    • rvacrossamerica says:

      Tony, I believe you’re asking about my amex card. I took the liberty of having them send you an invite to your email address. If that’s not the one, let me know – this is the one that gives you 6% back on groceries and 3% back on fuel – rebate applies direct to their bill. To date, I’ve saved over 500. on my purchases! (Anyone else reading this, please send me your email so I can generate a referral on this card. It also gets you a superior offer from them as well.)

      • Brian Mattocks says:

        Please generate a referral for me for the amex card.
        Thanks, Brian

        • rvacrossamerica says:

          done! sorry for the delay. been a few days since i logged in here and for some reason, your message didn’t hit my ‘inbox’. al

      • Dave says:

        Hi Alan, great video! Please send me the referral for your card.
        Thanks – Dave

      • Michael Bogart says:

        Would very much appreciate the info on the AmerEx card you talked about. Love your channel and looking forward to our new 5th wheel very soon. Thank you!

        • rvacrossamerica says:

          Michael, I took the liberty of having Amex send you the offer. They will mail it to your email address. Let me know how your search for your 5th wheel is going. What part of the nation are you in? Al

  4. Dennis says:

    Interested in the credit card

  5. Donna says:

    Hi Alan, I really have enjoyed your Channel. What can you suggest to look for when searching for a loan. Also, please send me the credit card info that’s saving you so much money.

    • rvacrossamerica says:

      Donna, thanks so much for your kind words. I took the liberty of having Amex send you an invite to the card that saves me 3% on gas and 6% on groceries. It is a fee based card (75./year), but I’ve received multiples of that back – and they credit direct to the account so you don’t have to jump through all kinds of hoops to get the money back. As to searching a loan – contact a few lenders and see what they’re rates are; have a good idea of your actual FICO score before asking. Don’t let them pull your score unless you’re pretty serious about using them as a lender. As I’ve said in my videos, credit unions typically have better rates, but shorter terms – hence the monthly can be higher than a banks rate/term.

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