Best RV Loan Rates

Introduction

More and more travelers are using recreational vehicles because they offer freedom, flexibility, and adventure. Financing is often an important part of the buying process, whether you’re buying a motorhome to live in full-time or a smaller travel trailer for short trips. RV loans are usually for more money, have longer terms, and have different requirements from lenders than auto loans. Anyone who wants to buy an RV in 2025 needs to know about these differences. We’ll give a complete look at the best 8 RV loan options available right now, focusing on competitive rates, flexible repayment plans, and reliable lenders. It also looks at the differences between banks, credit unions, and online lenders so that both new and experienced borrowers can make smart financial choices. At the end of this article, readers will learn how to compare lenders, what they need to do to qualify for an RV loan, and how to pick a loan structure that works for their budget and lifestyle goals.

1. LightStream

Best for borrowers with excellent credit:

• APR Range: Starting around 4.99% for highly qualified applicants
• Loan Terms: 24 to 144 months
• Loan Amounts: Up to $100,000+
• Features: No fees, no prepayment penalties, fully online application

LightStream has some of the lowest RV loan rates on the market, but only for people with good to excellent credit. Borrowers can choose loan terms that last up to 12 years, which lets them plan payments around long-term travel or retirement plans. You can get financing for both new and used RVs, and you can also refinance your loan.

2. Bank of the West

Best for personalized service and fixed-rate loans:

• APR Range: Competitive fixed rates
• Loan Terms: Up to 20 years
• Loan Amounts: Varies depending on RV type
• Features: Personalized loan specialists, transparent fixed-rate financing

Bank of the West has RV loans with fixed rates and repayment terms of up to 20 years. This makes it a good choice for buyers who want to pay less each month over a longer period of time. The bank’s loan specialists are always available to help you, and the whole process is done online.

3. Capital One

Best for flexible repayment and no prepayment penalties:

• APR Range: Competitive rates for qualified borrowers
• Loan Terms: Flexible repayment structures
• Loan Amounts: Varies by credit and vehicle type
• Features: No prepayment penalties, instant pre-qualification

Capital One makes it easier to borrow money by letting you apply online quickly and giving you tools to see if you qualify. People who expect their income to change or want to pay off their loans faster can do so without paying any extra fees.

4. USAA

Best for military families:

• APR Range: Below market average for eligible members
• Loan Terms: Flexible repayment plans
• Loan Amounts: Varies by vehicle and borrower profile
• Features: Exclusive rates for military members, responsive customer service

USAA helps active duty service members, veterans, and their families. Loans often have lower interest rates than regular lenders and terms that work with the unique financial needs of military life.

5. PenFed Credit Union

Best for low APRs and wide RV eligibility:

• APR Range: Starting as low as 4.24% APR*
• Loan Terms: Up to 20 years
• Loan Amounts: Up to $250,000
• Features: Flexible credit requirements, extensive RV coverage

PenFed will help you pay for a wide range of RVs, from motorhomes to camper vans. It has some of the lowest rates on the market, which makes it popular with both new RV buyers and seasoned travelers. You have to be a member, but it’s not hard to join PenFed.

6. LendingClub

Best for borrowers with fair credit:

• APR Range: 7.04% to 35.89%
• Loan Terms: 36 to 60 months
• Loan Amounts: Up to $40,000 (personal loan model)
• Features: Peer-to-peer lending structure, more lenient credit requirements

LendingClub is different from other lenders because it is a peer-to-peer platform. Rates may be higher than those at banks, but it gives people with bad credit access to loans. When figuring out how much a loan will cost, borrowers should include origination fees.

7. Local Credit Unions

Best for community-based service and low fees:

• APR Range: Frequently lower than national banks
• Loan Terms: Up to 15-20 years in some cases
• Features: Personalized lending service, lower fees, community benefits

Because they are not for profit, credit unions often have lower rates and fees than bigger banks. They also offer a more personalized service by customizing loan packages to meet the needs of each member.

8. Online Lenders vs. Traditional Banks

Best for comparing speed vs. relationship banking:

• Online Lenders: Competitive rates, faster approvals, wider acceptance of credit profiles
• Traditional Banks: May offer lower rates for strong credit but require more documentation and longer approval times

When deciding whether to borrow money, borrowers should think about how fast and easy it is to get the money versus how stable and powerful their existing banking relationship is.

RV Loan Options Summary

Conclusion

Owning an RV is more than just a way to get around; it’s an investment in your lifestyle and long-term happiness. It’s important to be careful when getting a loan for an RV because they can cost as much as a small house. Choosing the right lender can have a big effect on how affordable the loan is, how much it will cost to pay it back in full, and your long-term financial stability. Lenders like LightStream or PenFed Credit Union may be best for borrowers with good credit because they have low rates. If you have fair credit, you might be able to get loans from LendingClub or your local credit union more easily. USAA has special options for military families, while Bank of the West may be better for buyers who want personalized help. In the end, the choice depends on your credit score, the loan terms you want, and your lifestyle goals. Borrowers can get the best financing for their RV purchase by comparing different lenders, reading the terms carefully, and taking into account the total cost of the loan.

Frequently Asked Questions

What credit score is needed for an RV loan?

For competitive rates, most lenders want you to have a credit score of at least 660. Most premium lenders, like LightStream, want people with good to excellent credit (700+).

How long are RV loan terms?

The terms of a loan can be anywhere from 24 months to 20 years. Longer terms lower monthly payments but raise the total amount of interest paid.

Are RV loans secured or unsecured?

The vehicle itself is the collateral for most RV loans. But LendingClub and other platforms may give out unsecured personal loans for smaller amounts.

Can RV loans be refinanced?

Yes. LightStream and credit unions are just two of the many lenders that let you refinance to get lower rates or change how you pay back your loan.

Do all lenders require a down payment?

Different requirements exist. Some lenders will pay for all of the RV’s cost, while others will only pay for 10% to 20% of it.

Are interest rates fixed or variable?

You can get both. Fixed-rate loans are stable, but variable-rate loans may have lower initial costs but the risk of rising payments.

Written by Kevin Lee Updated September 9, 2025 by Albert Fang