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Old 02-28-2022, 11:42 AM   #1
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RV Loan

Looking to fiance a 2005 motorhome for around 32,000. My bank will only go 36 months. Are their lenders out there that will go longer. Thanks for any help you can offer.
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Old 02-28-2022, 11:55 AM   #2
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I just purchased a 2005 Tiffin Allegro 30DA for 35k. I live in MN and went to the local credit union. They financed the total amount for 144 months at 4.99. Was a good deal. Credit Unions have the best deals on RV's as I found.
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Old 02-28-2022, 02:03 PM   #3
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Credit Union is the way to go. I'm with Navy Federal - many others are quite good as well.
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Old 02-28-2022, 09:14 PM   #4
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Got a HELOC? If I needed a loan, that's where I'd go.
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Old 03-01-2022, 05:37 PM   #5
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Have to agree about the credit union, but check around. When we got our 2006 Beaver Monterey we started with Navy Federal but they donít actually do RV loans and we had a personal loan (higher rate and shorter term). We did a little shopping and found a local CU (Chartway) that gave us a loan for a much better rate and 15 years.
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Old 03-02-2022, 05:34 AM   #6
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Got a HELOC? If I needed a loan, that's where I'd go.


Most HELOC have a draw time limit then you refinance or have a ballon note.
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Old 02-02-2023, 08:06 PM   #7
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credit union

Everyone always seems to says something like, "I recommend you check with your credit union like I did," but it would be much more helpful if they said "I got a quote of x% interest for y months on a loan for $z from ABC Credit Union in June of 2022."
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Old 02-03-2023, 06:24 AM   #8
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Everyone always seems to says something like, "I recommend you check with your credit union like I did," but it would be much more helpful if they said "I got a quote of x% interest for y months on a loan for $z from ABC Credit Union in June of 2022."
That could be because terms and interest rates arenít monolithic. Your FICA, debt load, etc., will influence the rate youíre offered and the term of exposure. Most institutions, for obvious reasons, arenít going to risk a longer term exposure on an 18 year old RV. If they do itís likely youíre going to pay a premium interest rate, the more risk they expose themselves to, the more youíre going to pay. While meantime, if you do find a lender willing to go long term on an older unit it will likely be a local institution, youíre not going to find them on a forum.
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Old 02-07-2023, 05:54 PM   #9
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Originally Posted by Edhick View Post
Looking to fiance a 2005 motorhome for around 32,000. My bank will only go 36 months. Are their lenders out there that will go longer. Thanks for any help you can offer.
I financed our 2006 Georgetown xl through Westlake Finance when we bought it last year. It's is an 8 year loan for 30000 plus.
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Old 02-08-2023, 06:17 PM   #10
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I'm a CU proponent, but the 3 different CUs I have belonged to all financed RVs as if they were just expensive cars, i.e. loans of 36-72 months depending on the age of the vehicle. Suitable for car-size loan ($40+K these days), but not so great for a new motorhome or high-end towable.


So shop around - do not assume that any one source of type of lender will be the lowest.
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