How do RV Loans Work?

By: South Thompson RV   |   27 Mar 2018
Man on a mountain overlooking a valley near his campsite

It’s one of the most common questions that we get asked, “how do RV loans Work?” Because people typically buy RVs less frequently than cars, it’s understandable that the ins and outs are little more complex to think about. The good news is that RV loans are easy to understand, and our team of financing experts is able to get you into just the right loan for your camping budget.

Are RV Loans Like Car Loans?

Yes! While many RVs can be more expensive than your average Honda Civic, some aren’t. No matter what the price range that your family’s ideal recreational vehicle falls into, there are financing options out there. RV loans work very similarly to car loans in the sense that they are a monetary loan for a vehicle, require a credit check, and can be provided by different lenders at different interest rates. You’re often able to finance with bi-weekly or monthly repayment schedules and choose the one that works best for you.

Based on the price of your recreational vehicle, different loan terms are available. Rates are variable as well and are determined by the market rates of our selected lenders. Because we work with a variety of different lenders, you can rest assured that we’ll always select a lender that has demonstrated reliability with credit situations like yours, and that is offering a competitive interest rate. We want to help you save as much money as possible and get you out there camping from Anvil Peak to Turtle Valley!

What is Included With My RV Loan?

Beyond just getting you into a great RV, we’re also able to set up warranties and protection plans for your RV to keep you rolling all summer and beyond. A unique new option, South Thompson also offers RV insurance to our valued customers. Depending on your needs, there are different types of RV insurance that can help you replace your RV in part or full, and at different payouts. Better safe than sorry!

When buying a new or used RV from South Thompson RV, our credit experts will sit down with you to assess your unique situation to determine what term, interest rates, and repayment schedule are best for you.

RV Loans If Your Credit Isn’t Perfect

Life happens, but that doesn’t mean that the fun has to stop. We get it, sometimes credit slips are unavoidable. We offer RV loan services for those with bad credit, no credit, and everything between and beyond!

Having credit issues is common, and that doesn’t need to stop you from enjoying the summer with your family. Better than that, getting into an RV and repaying your loan on-time and fully means that you’re rebuilding your credit. Smaller loans such as those for RVs and vehicles are a great stepping stone for rebuilding your credit, especially if you’re looking to finance a home or something more serious in the years to come.

You can get approved online quickly and easily at South Thompson RV. Once we receive your application, our credit experts will reach out to you directly to help get you into the right RV for your next adventure. Better yet, our team is happy to provide support and tips that will help you rebuild your credit. Contact us today for more information!


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(250) 374-4949