buying rv with bad credit

Can You Buy An RV With Bad Credit?

Bad credit can happen for a number of reasons that aren’t really relevant to your present financial situation. You may discover your credit is bad for any of the following reasons:

  • Old debts, even if you’ve paid them off
  • Behind on current or past debt repayments
  • Self employment
  • Too many current payments on debts
  • Low credit score
  • Previous bankruptsy

Luckily for you, even if you have bad credit, there are plenty of lenders out there who are willing to take the chance of lending you money to buy an RV. The payoff for them is that you will often pay a significantly higher interest rate in exchange for their acceptance of risk.

One of the great things about RV loans is that they can be structured more like a mortgage than an auto loan but without all the paperwork involved in getting a mortgage. With an RV loan, you can stretch out your payments over as many as 20 years so your payments may be very low, with most of each payment going toward interest rather than building equity in the RV.

If you have a downpayment, lenders may look more favorably upon your loan application even when you have bad credit. For RVs over $50,000, it is usually (not always) a necessity to have a downpayment.

How To Buy An RV With Bad Credit

Start at your bank

If you are buying an RV with bad credit, you may want to get pre-approval for an RV loan before you go RV shopping. If you have a good relationship with your bank or credit union, go there first to discuss options. Every time a potential lender runs a credit check, it will drop your credit score a few points. Losing points on your credit score won’t help you to get an RV loan when you already have bad credit.

If you go to your bank first, they’ll know your present and past financial situation firsthand, and as an added bonus, you may not take a hit to your already floundering credit score.

Your RV dealer has RV financing solutions

RV dealers want to sell an RV to you. RV dealers have a network of lenders they work with so they can sell RVs to people with a variety of financial backgrounds. Each lender will have its own level of tolerance for buyers with bad credit.

National Vehicle: Financing solution for private RV deals

Sometimes it might be worthwhile to check out pre-owned RVs being sold by private sellers. This can often save you money on the price of a used RV while absorbing the initial cost of depreciation, which starts as soon as you drive your new RV off of the lot.

National Vehicle is a listing service of for-sale-by-owner RVs. Similar to a dealer, National Vehicle helps to facilitate RV sales, including offering financing options for buyers.

Try these RV financing companies

These RV financing companies are known to help RV buyers with less than stellar credit.


RVers looking for valuable how-to information have learned to go to the experts. Forums such as iRV2.com and blog sites like RV LIFE, Do It Yourself RV, and Camper Report provide all the information you need to enjoy your RV. You’ll also find brand-specific information on additional forums like Air Forums, Forest River Forums, and Jayco Owners Forum.

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Author Anthony Foxx

I am Tony, an RV designer and RV developer. I create bill of materials for RV manufacturers for travel trailers and fifth wheels. I worked as a freelance transportation consultant for Lyft. As an RV development consultant, I create customization trees for RV manufacturers who want to offer a solution to prospective customers to design their custom RV with variant configuration. Apart from this, I sell in Indiana trailer hitches, hitch balls, goosenecks and weight distribution systems where I provide advice to customers who want to know which is their towing capacity, which hitch ball should they utilize and how to deploy a weight distribution system. I do my best to explain all these processes and their installation, in the Lifestyle edition of Business Finance News.

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A personal loan is a medium term loan with a fixed interest rate that is repaid in equal monthly payments and it's usually limited to 24 months. Loan offers and eligibility depend on your individual credit profile. Our lenders can help you obtain as much as $3,000 depending on the lender, your state and your financial situation.

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Late Payment Implications

It is highly recommended to contact the lender if late payment is expected or considered possible. In this case, late payment fees and charges may be implied. Federal and state regulations are determined for the cases of late payment and may vary from case to case. All the details concerning the procedures and costs associated with late payment are disclosed in loan agreement and should be reviewed prior to signing any related document. 

Non-payment Implications

Financial and non-financial penalties may be implied in cases of non-payment or missed payment. Fees and other financial charges for late payment are to be disclosed in loan agreement. Additional actions related to non-payment, such as renewals, may be implied upon given consent. The terms of renewal are to be disclosed in each loan agreement individually. Additional charges and fees associated with renewal may be applied. 

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Non-payment and late payment may have negative impact on the borrowers’ credit standing and downgrade their credit scores, as the lenders may report delinquency to credit bureaus, including but not limited to Equifax, Transunion, and Experian. In this case the results of non-payment and late payment may be recorded and remain in credit reports for the determined amount of time.