what is a recreational loan

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Loan we offer for seasonal fun

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  • What is an RV loan?

  • An RV loan is a financial product designed to help finance the purchase of a recreational vehicle. RV loans are typically offered for motorhomes, fifth-wheels, travel trailers, pop-up campers, and even horse trailers in some instances.

  • What credit score do I need for a recreational vehicle loan?

  • Bank of the West (through Essex Credit) offers competitive rates on loans up to $2 million for a variety of recreational vehicles, as long as borrowers have a credit score of 700 or higher.

  • How long can you borrow from recrecreational for a car?

  • Recreational vehicles accepted for collateral can be as old as 15 years and loans are offered up to $75,000. Repayment terms range from 60 to 180 months, and there is no penalty if you pay off the loan early.

  • Can a motorhome be used as collateral for a secured loan?

  • But if you鈥檙e purchasing a higher-value RV, such as Class A or Class C motorhome, Truist requires the loan to be secured, using the motorhome鈥檚 title as collateral. Keep in mind that if you fail to make your payments on a secured RV loan, the lender can repossess your RV.

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