How Old of an RV Can You Finance? Lenders, Restrictions Listed

How Old of an RV Can You Finance?

Banks, credit unions, and financial service companies offering RV financing set their own rules regarding used RVs. Some restrict funding by model year, while others have restrictions based on the RV’s mileage, price, and/or general condition. Lenders that restrict financing based on the age of the vehicle will generally only finance models up to 10 to 15 years old.

In addition to the age and condition of the RV, lenders will also consider your personal credit history when you apply for an RV loan. For RV loans for customers with less-than-perfect credit, see our related article.

To give you an idea of what to expect when applying for financing for a used RV, we contacted some of the top recreational vehicle lenders and dealerships in the country to find out about their individual policies. Our findings, including model year restrictions, are listed below. Dates are based on the time of this writing in June 2019.

Note: If you’re looking to finance an RV older than 10 years and you’re struggling to find a major lender that will work with you, you may want to check with smaller, local credit unions. Credit unions are more likely to offer RV financing with no model year or mileage restrictions.

Essex Credit

• Model year restrictions: Must be from model year 2008 or newer
• Other restrictions:
  • Mileage: For gas engines, the maximum is 60,000 miles; for diesel engines, the maximum is 100,000
  • Minimum loan amount: $10,000 (or $25,000 if using the RV full-time as a residence)
• RV types: Bus conversions, fifth wheels, horse trailers with 50% living quarters, motorhomes (Class A, B, and C), pop-ups, travel trailers, and truck campers
• Apply

General RV Center

• Model year restrictions: No set limit; loans for older RVs are considered on a case-by-case basis. General RV Center coordinates financing through several different banks and credit unions to find solutions that meet most customer needs.
• Other restrictions: Vary by lender
• RV types: Fifth wheels, motorhomes (Class A, B, and C), pop-ups, travel trailers, and truck campers
• Apply

Good Sam Finance Center

• Model year restrictions: Must be from model year 2008 or newer
• Other restrictions:
  • Mileage: For gas engines, the maximum is 60,000; for diesel engines, the maximum is 100,000
  • Minimum loan amount: $10,000 for recreational use and $25,000 for full-time use
• RV types: Bus conversions, fifth wheels, horse trailers with living quarters, motorhomes (Class A, B, and C), pop-up campers, travel trailers, and truck campers
• Apply

J. J. Best Banc & Co.

• Model year restrictions: J. J. Best Banc & Co. specializes in classic vehicles and will finance most model years.
• Other restrictions:
  • Minimum loan amount: $6,000
• RV types: RVs and motorhomes
• Apply

LightStream/SunTrust Bank

Note: LightStream is a division of SunTrust Bank. SunTrust Bank’s unsecured RV loan option follows the same restrictions as LightStream.

• Model year restrictions: None
• Other restrictions:
  • Minimum loan amount: $5,000
• RV types: Motorhomes, RVs, and trailers of any size or model
• Apply online through LightStream or visit SunTrust Bank’s unsecured RV loan page

Newcoast Financial Services

• Model year restrictions: Must be from model year 2004 or newer
• Other restrictions:
  • Minimum loan amount: $25,000
• RV types: Motorhomes and RVs
• Apply

Southeast Financial

• Model year restrictions: Southeast Financial will finance units up to 20 years old
• Other restrictions:
  • Minimum loan amount: $7,500 for recreational units
  • Southeast Financial does not finance RVs used as full-time residences.
• RV types: Class A and C motorhomes, fifth wheels, pop-up campers, and travel trailers
• Apply

In Summary

RV lenders will typically not finance an RV older than 10 to 15 years. As of the time of this writing, Essex Credit and Good Sam Finance Center set their cut-off year at 2008; Newcoast Financial Services will finance RVs as old as 2004, and Southeast Financial allows RVs to be up to 20 years old. Select lenders, such as some credit unions and SunTrust Bank’s LightStream division, have no restrictions on the age of an RV. Other factors, such as the vehicle’s mileage and the lender’s minimum loan amount, are also important to keep in mind.