What's Different About RV Financing
RV loans behave like a hybrid of an auto loan and a mortgage. Because rigs regularly cost $50,000–$300,000, lenders stretch terms to 15 or even 20 years to keep payments manageable — which makes the total-interest number on this calculator especially important. A $100,000 motorhome financed for 20 years can cost more than $75,000 in interest at typical rates. Down payments of 10–20% are standard, and lenders often have minimum loan amounts around $10,000–$25,000 for their longest terms.
One quirk worth knowing: if your RV has sleeping, cooking, and bathroom facilities, the IRS may treat it as a second home, which can make the loan interest deductible if you itemize — ask a tax professional. And as with boats, the age of the rig matters: many lenders won't finance RVs older than 10–15 years, or will do so only at higher rates and shorter terms.
Frequently Asked Questions
How long can you finance an RV?
Commonly 10 to 20 years. Loans over roughly $50,000 often qualify for 20-year terms; smaller travel-trailer loans usually run 10–15 years. Longer terms lower the payment but sharply raise total interest.
What credit score is needed for an RV loan?
Most lenders prefer about 680+; the best advertised rates typically require 720 or higher. Approvals in the low 600s happen but at noticeably higher APRs. See typical ranges in our rates guide.
Is RV loan interest tax deductible?
Possibly — if the RV qualifies as a second home (sleeping, cooking, and toilet facilities) and you itemize deductions. Consult a tax professional for your situation.