Best RV Loans for Bad Credit

Qualify with a credit score as low as 550

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LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
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Lauren Nicholson, staff writer for LendingTree
Written by
Lauren Nicholson
Updated May 24, 2024

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.

GreatRVLoan

8.99%*

60 - 180 months*

$10,000 to $75,000*

550

Pros
  • Low minimum credit score
  • Offers loans for RVs up to 15 years old
  • Allows you to refinance with better rates when you qualify
Cons
  • 10% minimum down payment
  • Interest rates go up to 19.95%

What to know

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If your credit is holding you back from qualifying for an RV loan, you may still be eligible for financing with GreatRVLoan. The lender’s low minimum credit score and programs designed for borrowers with bad credit mean that your chances of getting an RV loan with it may be higher than with other lenders.

Before signing on the dotted line, make sure you can afford your monthly RV payments with GreatRVLoan. Its interest rates go up to 19.95%, making its loans potentially expensive for borrowers with bad credit.

*Rates, terms and loan amounts for GreatRVLoan are for borrowers with bad credit.

Eligibility requirements

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  • Credit score: 550+
  • Open to borrowers with credit issues including late payments, bankruptcies and foreclosures
  • Age of RV: up to 15 model years
  • Types of RVs: motorhomes, fifth wheels, utility trailers, travel trailers, horse trailers, toy trailers and toter homes
  • Offers loans for private-party and dealer purchases
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Southeast Financial

6.99%

Up to 240 months

$10,000 to $4,000,000

575

Pros
  • Fast loan decisions
  • Available in all 50 states
  • Offers RV refinancing
Cons
  • Doesn’t offer loans to full-time RV residents
  • Loans start at $10,000
  • Only offers loans for RVs up to 12 years old

What to know

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If you’re looking for a fast decision on your RV loan, consider Southeast Financial. It offers credit decisions in as little as three hours for new and used RV loan applications or refinances. Southeast Financial also offers RV warranties and GAP insurance to protect your new purchase.

Keep in mind that despite its low credit requirement, not everyone will be eligible for a Southeast Financial loan. You won’t qualify for financing if you want to buy a unit that is more than 12 years old, you plan to live in your RV or you want a loan under $10,000.

Eligibility requirements

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  • Credit score: 575+
  • Types of RVs: motorhomes (Class A and C), travel trailers, pop-ups, fifth wheels
  • Full-time RV residents not eligible for financing
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iNet

8.15%

Up to 240 months

$5,000 to $1,000,000

580

Pros
  • Private-party and dealership purchases
  • Loans for RVs up to 15 years old
  • Offers RV insurance through partner company
  • Loans start at $5,000
Cons
  • Only available in 48 states
  • Doesn’t offer refinancing
  • No additional information on eligibility requirements

What to know

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iNet offers RV loans for borrowers with bad credit with terms up to 20 years. You can finance a new or used RV through iNet, and getting insurance through its partner company makes the process of protecting your new RV purchase even more convenient.

If you’re looking to refinance your RV, consider other lenders on this list. iNet doesn’t currently offer RV refinancing.

Eligibility requirements

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  • Credit score: 580+
  • Age of RV: up to 15 model years
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Good Sam

7.24%

72-240 months

$10,000 to $50,000*

600

Pros
  • Loans for RVs up to 20 years old
  • Available to non-U.S. citizens
  • Loans for private-party and dealership purchases
Cons
  • Maximum loan amount of $50,000 for borrowers with bad credit
  • Charges loan processing fee
  • Full-time RV residents not eligible

What to know

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If you want to finance an older RV, you’re in luck: Good Sam offers loans for RVs up to 20 years old compared to a maximum of 12 or 15 years for most lenders. It also offers loans to non-U.S. citizens and for private-party purchases.

Budget-conscious borrowers should be aware that Good Sam charges fees for loan processing. These are also called origination fees and will be due when you sign your agreement.

*Loan amounts for Good Sam are for borrowers with credit scores between 600 and 679.

Eligibility requirements

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  • Credit score: 600+
  • Age of RV: up to 20 model years
  • Washington, D.C., residents not eligible
  • Financing not available for full-time RV residents, park models, rental units or tiny homes
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Trustpilot

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.

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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:

  • 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.

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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 $22,000 by improving your credit.

How we chose the best bad credit RV loans

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.

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 — GreatRVLoans.com 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.