How Long Can You Finance an RV: Loan Terms and 20-Year Costs

You can typically finance an RV for anywhere from two to 20 years, with 10 to 20 years being standard on new, higher-priced units. The exact ceiling depends on how much you borrow, the age and type of the RV, and your credit profile. A 20-year loan keeps the monthly payment manageable on a six-figure motorhome, but it also multiplies the total interest you pay, so the longest term available is not always the term you want.

Typical RV Loan Terms by Loan Amount

The dollar amount you borrow is the single biggest factor in how long you can stretch the loan. Lenders reserve their longest schedules for their largest brackets because a long term is what makes the payment realistic on an expensive unit. One widely used RV lender’s current tiers illustrate the pattern:¹

$10,000 to $24,999: up to 12 years (144 months)
$25,000 to $49,999: up to 15 years (180 months)
$50,000 and above: up to 20 years (240 months)

Shorter terms of two to five years exist mainly for older or less expensive used units. Other lenders set similar thresholds, though the exact cutoffs vary. Interest rates shift with loan size too. Larger balances in the $150,000-and-up range often qualify for lower APRs than a $50,000 loan at the same term, because the lender earns more total revenue on the bigger balance.¹

How the RV Itself Affects the Term

RV Type

Class A, B, and C motorhomes tend to qualify for the longest terms because they carry higher price tags and hold value somewhat better than towable trailers. Fifth wheels and travel trailers can still reach 15 or 20 years if the loan amount is high enough. Smaller pop-up campers and lightweight trailers rarely qualify for anything past 10 to 12 years.

Age of the RV

New units get the longest available terms. Older models face shorter caps: a lender offering 20 years on new motorhomes may limit a 10-year-old unit to a 10-year loan, or less, to keep the balance from outrunning the RV’s depreciated value. Some lenders publish a cutoff model year and add a rate surcharge for anything older.¹

New Versus Used

Used RVs still qualify for long-term financing, but the options narrow. Used-unit loans generally carry slightly higher rates and shorter maximum terms than new-unit loans at the same price. A used RV has already absorbed its steepest depreciation, but it also has a shorter remaining useful life to serve as collateral.

Borrower Factors That Set Your Term and Rate

Credit Score

Most RV lenders want a minimum FICO score around 670 to approve a loan at all. The lowest advertised rates, starting around 6.49% as of early 2026, go to borrowers with scores in the mid-700s or higher. Scores below 680 can still get financing, but the rate climbs steeply. At one major lender, a borrower with a 620 FICO on a $50,000 loan would pay nearly 18% APR, versus roughly 7% for someone above 800.¹

Debt-to-Income Ratio

Lenders look at how much of your gross monthly income already goes to debt. A DTI under 36% is the general threshold most want to see. If your existing obligations already consume a large share of your income, the lender may offer a shorter term or a smaller loan, or decline the application.

Down Payment

A down payment is not always required, but putting money down improves your terms. Most lenders look for 10% to 20% of the purchase price, and the requirement often scales with loan size. Some lenders require 20% down on loans above $250,000 and 10% on loans under $100,000.¹ Beyond satisfying the lender, a meaningful down payment protects you from the fast early depreciation that can leave you owing more than the RV is worth.

What a 20-Year RV Loan Actually Costs

A long term makes the monthly payment look comfortable, but the total interest can be steep. Take a $75,000 loan at 7.24% APR:

10-year term: roughly $880 per month, about $30,600 in total interest
15-year term: roughly $684 per month, about $48,100 in total interest
20-year term: roughly $592 per month, about $67,100 in total interest

The 20-year loan saves about $288 a month over the 10-year loan, but you pay more than double the total interest, an extra $36,500 over the life of the loan. Run the total cost before choosing the longest term the lender will grant.

Depreciation and Negative Equity

RVs lose value quickly. A typical unit drops 15% to 20% in the first year, then another 10% to 15% per year for the next few years. After five years, many are worth roughly half their original price. On a 20-year loan with a small down payment, you can spend several years “underwater,” owing more than the RV would sell for. If you need to sell or the RV is totaled during that stretch, you still owe the lender the difference.

Guaranteed Asset Protection (GAP) coverage pays the gap between an insurance payout, which is based on current market value, and your remaining loan balance if the RV is stolen or declared a total loss. Some GAP programs cover RV loans with terms up to 20 years and financed amounts up to $500,000. If you are financing a large share of the price over a long term, GAP is worth pricing before you sign.

If You Want to Pay Off or Refinance Later

Prepayment

If you take a 20-year loan and later decide to pay it down faster, check for a prepayment penalty. Federal law does not ban prepayment penalties on RV loans, but it does require the lender to disclose any penalty before you sign.² Some states prohibit prepayment penalties on certain consumer loans, so your protections depend on where you live. The prepayment section of your Truth in Lending disclosure states clearly whether a charge applies.³

Refinancing

Refinancing replaces your current RV loan with a new one, usually to lower the rate, change the term, or both. The new lender evaluates your credit, income, DTI, and the RV’s current condition, and may require an inspection. Refinancing tends to pay off when rates have dropped since you took out the original loan or your credit has improved significantly. Extending the term through refinancing restarts the interest clock, so it is possible to lower the payment while paying more overall.

A Note on Full-Time RV Living

If you plan to live in the RV full-time rather than use it for trips, say so on the application. Some lenders restrict their RV loans to recreational use and will not finance a unit that doubles as a primary residence. Others allow it but may require different insurance or adjust the terms. Full-time RV insurance carries higher liability limits and personal-property protection closer to a homeowner’s policy; living in the RV without the right coverage can lead a provider to deny a claim. Most full-time insurers treat you as a full-timer at roughly six months of occupancy per year.

1
Good Sam Finance Center. RV Loans from Good Sam
2
Consumer Financial Protection Bureau. Can I Prepay My Loan at Any Time Without Penalty
3
eCFR. 12 CFR Part 226 – Truth in Lending (Regulation Z)