Motorhome & Campervan on Finance – Monthly Payments

Looking for a motorhome or campervan on finance in the US? With flexible finance options, you can spread the cost over manageable monthly payments, making it more affordable to hit the road in your dream vehicle. Whether you have good or bad credit, there are various financing solutions available, including low-deposit and no-deposit plans. In this article, we will explore the details of these options.

Motorhome & Campervan on Finance – Monthly Payments

What are the main types of RV and motorhome loans?

When it comes to financing your motorhome or campervan, several loan options are available. The most common types include:

  1. Secured loans: These use your RV as collateral, often resulting in lower interest rates.

  2. Unsecured personal loans: These don’t require collateral but may have higher interest rates.

  3. Dealer financing: Many RV dealerships offer in-house financing options.

  4. Home equity loans: If you own a home, you might use your equity to finance your RV purchase.

  5. RV-specific loans: Some lenders specialize in recreational vehicle financing with tailored terms.

Each loan type has its advantages and potential drawbacks, so it’s essential to research and compare options to find the best fit for your financial situation.

How do monthly payments for motorhome finance work?

Monthly payments for motorhome financing are similar to other vehicle loans. Your payment amount is determined by several factors:

  1. Loan principal: The total amount borrowed.

  2. Interest rate: The cost of borrowing, expressed as a percentage.

  3. Loan term: The length of time you have to repay the loan.

  4. Down payment: The amount you pay upfront, which reduces the loan principal.

Generally, a longer loan term will result in lower monthly payments but more interest paid over time. Conversely, a shorter term means higher monthly payments but less overall interest. Many lenders offer online calculators to help you estimate your monthly payments based on these factors.

Are there no credit check options for motorhome financing?

While traditional lenders typically require a credit check, some alternative financing options may be available for those with poor credit or who prefer to avoid credit checks:

  1. Buy-here, pay-here dealerships: Some RV dealers offer in-house financing without formal credit checks.

  2. Peer-to-peer lending: Online platforms connect borrowers with individual lenders, sometimes with more flexible requirements.

  3. Cosigner options: Adding a cosigner with good credit can improve your chances of approval.

  4. Rent-to-own programs: Some companies offer lease-to-own options that may not require a credit check.

It’s important to note that no-credit-check options often come with higher interest rates and less favorable terms. Always carefully review the terms and conditions before committing to any financing agreement.

What should you consider before applying for motorhome finance?

Before diving into motorhome financing, consider the following factors:

  1. Budget: Determine how much you can realistically afford for monthly payments, including insurance and maintenance costs.

  2. Credit score: Check your credit report and score to understand your financing options.

  3. Down payment: A larger down payment can reduce your loan amount and potentially secure better terms.

  4. Loan term: Consider how long you’re willing to make payments and how it affects the total cost.

  5. Interest rates: Shop around for the best rates, as they can significantly impact your overall costs.

  6. Additional fees: Be aware of any origination fees, prepayment penalties, or other charges.

  7. RV depreciation: Consider how quickly your motorhome may lose value compared to your loan balance.

Taking the time to evaluate these factors can help you make a more informed decision and avoid potential financial stress down the road.

How flexible are campervan payment plans?

Campervan payment plans can be quite flexible, depending on the lender and your financial situation. Some common flexibility options include:

  1. Variable loan terms: Many lenders offer terms ranging from 5 to 20 years.

  2. Seasonal payments: Some lenders allow higher payments during peak usage months and lower payments in off-seasons.

  3. Deferred payments: You might be able to skip a payment or two each year, usually with prior arrangement.

  4. Refinancing options: As your financial situation improves, you may be able to refinance for better terms.

  5. Early repayment: Some loans allow you to make extra payments or pay off the loan early without penalties.

When discussing financing options with lenders, inquire about these flexibility features to find a plan that aligns with your lifestyle and financial goals.

To give you a better idea of what’s available in the market, here’s a comparison of some popular RV financing options:


Lender Loan Amount APR Range Loan Term Minimum Credit Score
LightStream $5,000 - $100,000 5.99% - 17.49% 24-84 months 660
Bank of the West $10,000 - $2,000,000 4.74% - 11.74% Up to 240 months 680
USAA $5,000 - $500,000 6.55% - 14.15% 12-180 months Not disclosed
Good Sam $15,000 - $150,000 5.99% - 17.99% 60-180 months 640
US Bank $25,000 - $150,000 6.24% - 10.24% Up to 180 months 700

Prices, rates, or cost estimates mentioned in this article are based on the latest available information but may change over time. Independent research is advised before making financial decisions.


When choosing a financing option for your motorhome or campervan, it’s crucial to compare multiple offers and consider your long-term financial goals. By understanding the various loan types, payment structures, and flexibility options available, you can make an informed decision that aligns with your budget and lifestyle. Remember to factor in additional costs such as insurance, maintenance, and depreciation when planning your RV purchase to ensure a smooth and enjoyable journey on the open road.