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Can I Finance An RV?

04.24.2008 · Posted in Buying RV's, Selling RV's

You gotta love our free enterprise system. If there’s a buck to be made there’s someone ready to help, so yes of course you can finance. Banks in our area will finance new or near new RV’s for up to 20 years on an open loan. That means you can pay the loan down or pay it out anytime without penalty. They also sometimes finance with zero down, so getting into an RV can be very affordable. As the age of the RV increases the number of years you can finance decreases, so the payments per thousand borrowed increase. For example payments on a new RV might be $8.00 per thousand per month, where as on a 10 year old unit payments may be over 10 years and would be more like $15.00 per thousand per month. Talk to your Bank or Credit Union before you go shopping to get an idea. Often the dealer can set up favorable financing with the Dealer Plan Department of a local bank. Shop around, there are differences.

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