RV financing secrets revealed
Understanding RV Financing
RV financing works similarly to auto loans, where the vehicle itself serves as collateral. Lenders typically offer terms ranging from 5 to 20 years, depending on the loan amount and the borrower's creditworthiness. Interest rates can vary significantly based on credit scores, with rates generally ranging from 4% to 15%1. It's crucial to shop around and compare rates from different lenders to find the most favorable terms.