Travel Trailer Loan Rates

As you consider getting a new or used travel trailer, you may want to know some typical travel trailer loan rates. In this article, we share some insights you should definitely be aware of as you consider getting your travel trailer.

Purchasing a new travel trailer is more than just buying a vehicle; it’s about creating a new hobby and passion in your life. It opens the door to new experiences and new friends you would never have had otherwise.

travel trailer loan rates

Before it comes time to purchase your travel trailer, you’ll have to decide whether to pay in cash or to finance it. We recommend paying directly for as much as you can, but if you decide to finance all or part of the cost, you’ll definitely want to do some research on how to go about financing. Loans for travel trailers function much the same way as for a home or regular car: you get your principal and pay that back with your interest.

Financing Your Travel Trailer

Securing a loan on a travel trailer can be a complicated process, so that’s why it’s best to plan ahead. Even if you have good credit, since RVs are considered a luxury vehicle, you will still need to be well-prepared to get a great rate on your potential loan.

travel trailer loan rates

So, before you head out and get your loan, consult the info below to get as much of an advantage as possible!

Where to Finance

When you initiate the loan process for your travel trailer, the creditor is going to look for a few things:

  • Good credit score
  • Proof of income
  • A down payment
  • A history of meeting financial obligations

If you feel you meet all of these qualifications, great! There are various outlets to secure a loan on a travel trailer, and they function similarly to auto loans. Below we will explore a few of the options you have.

USAA

USAA looks to appeal to a more senior crowd, noting on their website that customers are “retired and ready to roll”. However, even if you don’t meet this target demographic, USAA offers competitive loan options either way.

travel trailer loan rates

You can get 100% financing and refinancing on loans of less than $100,000 and 80% financing and refinancing on loans of more than $100,000.

USAA claims to be able to get you a loan quickly and in three easy steps. You just have to 1) fill out their application, 2) wait for a loan decision, and then 3) give them a call.

Interest rates at USAA start from as low as 5.49% APR for motorhomes, fifth wheels, travel trailers, pop-up campers, and truck campers. Of course, this is for people with excellent credit that meet certain other obligations as well. If you don’t meet these requirements, rates can be a bit higher.

If you are interested in learning more, click here to check out USAA’s website.

U.S. Bank

U.S. Bank offers loans of up to $150,000 and as little as $5000 for motorhomes or other recreation vehicles. Included in the loan options are fifth wheels, pop-up campers, and truck campers.

U.S. Bank advertises flexible financing options as well as competitive interest rates. To get a better idea of how much you would have to pay and at what interest rate, they offer a loan calculator.

If you’re interested in a loan from U.S. Bank, you can find more info here.

Good Sam

Good Sam is a well-known name in the RV loan industry. They offer financing and refinancing for motorhomes, fifth wheels, and various other classes of travel trailers. Another benefit is that they offer financing for full-time RVers, which can be hard to come by.

Good Sam highlights competitive fixed interest rates and long-term loan periods of 20 years for loans over $75,000. Interest rates at Good Sam range from 6.59% on $10,000 loans to 3.99% on a $75,000 or greater loan.

Exact interest rates can vary based on your own financial situation, of course. If you are interested in a Good Sam loan, you can get more info here.

Interest Rates

When it comes to your travel trailer loan, the interest rate is a fundamental aspect. Travel trailer loan rates can vary based on your credit history, principal amount, and loan term. Fortunately, most companies will provide a loan calculator to help estimate your rate.

class c rv loan rates

Good Sam provides a helpful table that offers a general outlook of how interest rates vary loan by loan for a new or used travel trailer.

After consulting many different travel trailer loan providers, typical travel trailer loan rates range from 4% up to 7%, with some variation. Most loans will fall in between these two numbers.

What NOT to do

When looking for a loan, there a few common mistakes that buyers make. We want to help you avoid these costly mistakes, and get the best trailer you can for the lowest price.

The first BIG mistake: paying the sticker price. In our rush to hit the road, we leave our negotiation skills at the door. But, if you want to avoid paying that inflated price, you are going to need to negotiate a little bit.

It won’t take all that much work to bargain down thousands of dollars off the sticker price, but you’ll save a ton.

The second BIG mistake: not knowing your credit score. If you have a good score, above 650, you will be much more likely to qualify for a loan and be eligible for lower travel trailer loan rates. This is beneficial because you will pay lower interest rates than people with lower credit scores.

If you are below this number (650), you may only be able to get a personal loan, which has a much higher rate. If that’s the case, you might consider waiting to make your purchase, or paying in cash if you are able.

The last BIG mistake: not including the additional costs of ownership in the purchase equation. Making this mistake leaves buyers overextended and with a travel trailer that they simply can’t afford.

When you are determining your budget, you need to take into account the initial cost of the trailer plus maintenance and upkeep. Insurance fees, gas, and additional equipment are expenses that can’t be forgotten!

travel trailer loan rates

Summary: Travel Trailer Loan Rates & Financing

The loan you can get on your travel trailer will have an effect on your finances for years to come. Before you walk into the dealer’s office, you should do your research on what your loan options are, and make sure this effect will be a positive one!

It’s essential to keep in mind your budget before looking for a loan. Don’t let the availability of financing trick you into purchasing a trailer you can’t afford. Once you decide on your budget, you need to gather your credit score, a down payment, and your negotiation skills to get your trailer at the best possible price.

Getting a travel trailer loan can be a bit complicated, but we hope this information makes the process a little easier. Best of luck, and let us know if we can help any further!


Written by George Wright

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