Best RV Loans for Bad Credit
Qualify with a credit score as low as 550
Getting zero down RV financing with bad credit will be tough, but there are plenty of lenders that offer bad credit RV loans designed for borrowers with credit scores under 600. Bad credit loans typically come with shorter loan terms and smaller loan amounts than typical RV loans, and you’ll likely have to put money down to qualify.
Best RV lenders for bad credit
*Rates, terms and loan amounts for GreatRVLoan are for borrowers with bad credit. Rates and loan amounts for Good Sam are for borrowers with credit scores between 600 and 679. Terms for other lenders in the table are for all borrowers regardless of credit score.
How to get an RV loan with bad credit
1. Choose your RV
Before you start the process of getting an RV loan, research what type of RV you want to buy. You’ll also need to know whether you want a new or used RV because lenders often restrict loans based on the age of the motorhome.
2. Check your credit
Knowing your credit score will help you determine what loans you’re likely to get. You can see your credit score for free with LendingTree Spring. Checking your score won’t damage your credit.
3. Shop around
The only way to make sure you’re getting the best possible rates for your RV loan is to get quotes from several different lenders. Many lenders allow you to prequalify for a loan — that is, to check your rates without any impact to your credit.
Make sure to submit any RV loan applications that require a hard credit pull within a 14-day period. FICO and VantageScore will count these applications as a single hard credit inquiry, minimizing damage to your credit.
4. Compare offers
Use our RV loan calculator to compare your offers. You can easily calculate your monthly payment and multiply it by the number of months in your loan term to determine how much you’ll pay over the course of the loan. Here are a few numbers to compare:
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Interest rate
The loan’s interest rate or annual percentage rate (APR) is the cost of borrowing the loan. Look for loans with lower interest rates to save money. -
Monthly payments
Make sure that you can comfortably fit the monthly payments into your budget. If you can’t afford the payments, you risk defaulting on your loan and losing your motorhome in the process. -
Loan term
The loan term is how many months it will take to pay off your loan. Longer loan terms come with lower monthly payments, but you’ll pay more in interest over the life of the loan. Choose the shortest term that gives you affordable monthly payments. -
Total interest paid
You can use our loan calculator to see how much interest you’ll pay on each RV loan. Choosing the loan with the lowest amount of interest paid is a good financial decision as long as you can afford the monthly payments.
5. Complete the loan application
Once you’ve chosen an RV loan, you’ll need to finish the application process. Depending on the lender, you may need to provide documents to prove your identity, income or employment. Then, you’ll sign the loan agreement to close on your loan.
Alternatives to bad credit RV loans
Used RVs
If you’re not approved for a new motorhome loan, consider buying a used RV. Since RVs lose value quickly, one of the main differences between new and used RV loans is that used RVs tend to be more affordable. It could be easier to qualify for a used RV loan, but keep in mind that many lenders only finance used RVs up to 12 or 15 years old.
Home equity loan
You may be able to use a home equity loan to fund your RV purchase. Home equity loans are second mortgages that allow you to trade equity (or ownership) of your home into cash.
These loans come with the risk of losing your home if you aren’t able to make payments, since your home is the collateral.
Paying with cash
If you can’t afford the monthly payments or aren’t approved for an RV loan, consider saving enough money to buy the motorhome in cash. You’ll save money in interest and you won’t risk losing your RV if you can’t make monthly payments.
If you can’t wait the amount of time it’ll take you to save the full amount, consider saving up enough cash for a larger down payment. This may be enough to help you qualify for a loan and reduce your down payment, since you’ll be taking out a smaller loan.
Renting an RV
If travel trailer financing doesn’t fit your budget, consider renting an RV. You can rent an RV by the week or month, so you won’t be stuck making monthly payments for a year or more like you would with a car lease.
What to do if you’re not approved
If you don’t qualify for RV loans for bad credit, take time to improve your credit. Your credit measures how much lenders trust you to pay back a loan, so improving your credit score is the best way to boost your chances of qualifying — and you’ll likely save money. A 2024 LendingTree study showed that you can save more than $39,000 by improving your credit.
Frequently asked questions
The longest term for RV loans is typically 240 months, but RV financing for bad credit generally comes with shorter terms.
The minimum credit score for an RV loan depends on the lender. The lenders highlighted on this page offer loans to borrowers with bad credit — GreatRVLoan advertises loans for people with scores as low as 550.
It’s possible to get a bad credit RV loan, but your credit will affect the terms of your loan. Loans for borrowers with bad credit typically come with higher interest rates, shorter terms and smaller loan amounts.
Our methodology
To identify the top four RV lenders for bad credit, we used the following criteria to review lenders that offer RV loans to consumers nationwide:
Accessibility to borrowers with bad credit. To make our list, lenders must extend loans to borrowers with credit scores at or below 600. We confirmed credit requirements directly with lenders, on lender websites and, when possible, within our own lending marketplace.
Transparent eligibility requirements. When possible, we prioritized lenders with clear eligibility requirements beyond the minimum credit score. We highlighted these publicly available eligibility requirements throughout the page.
We regularly review and fact check each of our lender rankings to ensure that the information is up to date.