RV Loans

RV Loans

RV loans allow you to finance a recreational vehicle for personal or business use with structured repayment terms and competitive bank rates. Unlike standard auto loans, RV loans are designed for higher loan amounts, longer terms, and specialized collateral.

Herring Bank RV loans are available for new and used recreational vehicles and allow borrowers to get pre-approved before shopping. Pre-approval helps you understand your budget, monthly payment, and rate expectations before selecting an RV.

Get Pre-Approved for an RV Loan

Getting pre-approved for an RV loan provides confidence and negotiating leverage before visiting a dealership. Pre-approval allows you to focus on selecting the right RV while knowing your financing structure is already in place.

Herring Bank RV loan specialists are available to help you understand rates, terms, and options so you can move forward with financing that supports your lifestyle and long-term financial goals.

Start your RV loan pre-approval with Herring Bank and take control of your RV financing.

Fifth Wheel Financing

Fifth wheel financing is designed for buyers purchasing towable RVs that offer expanded living space and residential-style features. Fifth wheels often represent a significant investment, making rate transparency and term flexibility critical.

With bank fifth wheel financing, borrowers can secure approval based on credit profile, down payment, and RV value rather than dealer incentives. This approach often results in lower long-term borrowing costs and clearer loan terms.

Travel Trailer Loans

Travel trailer loans cover a wide range of towable recreational vehicles, from lightweight campers to destination-style trailers. While travel trailers may carry lower purchase prices than motorhomes, financing structure still plays a major role in affordability.

Bank RV Financing vs Dealer Financing

RV buyers often choose between bank RV financing and dealer-arranged financing. While dealer financing emphasizes convenience, it may limit rate transparency and negotiation flexibility.

Bank RV financing allows you to:

• Secure pre-approval before visiting a dealership
• Understand your interest rate and loan terms upfront
• Negotiate the RV purchase price independently of financing
• Avoid bundled fees and inflated dealer margins

Dealer financing may offer speed, but bank financing provides control, clarity, and often lower total interest paid over the life of the loan.

RV Loan Rates: Bank vs Dealer

RV loan rates vary based on credit score, loan amount, loan term, RV type, and whether the RV is new or used. Bank RV loan rates are typically determined through standardized underwriting rather than dealer markups.

Dealer RV loan rates may appear competitive initially but can include higher margins embedded in the financing structure. Comparing bank RV loan rates before shopping allows borrowers to evaluate true affordability and avoid surprises at closing.

RV Loan Terms Explained

RV loan terms commonly range from 10 to 20 years depending on loan size, RV value, and borrower qualifications. Longer terms reduce monthly payments but increase total interest paid over time.

Herring Bank works with borrowers to structure RV loan terms that align with financial goals rather than defaulting to the longest available term. Understanding loan term options helps borrowers balance payment flexibility with long-term cost control.

Herring Bank travel trailer loans provide bank-level underwriting, fixed interest rates, and flexible terms. Securing financing before shopping helps buyers avoid dealer markups embedded in promotional offers.

New vs Used RV Financing

New RV financing typically offers lower interest rates due to vehicle condition and remaining asset life. Used RV financing may involve higher rates depending on age, mileage, and valuation.

Herring Bank offers financing for both new and used RVs, allowing borrowers to select the vehicle that best fits their budget without sacrificing financing quality or clarity.

RV Loan Calculator

An RV loan calculator estimates monthly payments based on loan amount, interest rate, term length, and down payment. Using an RV loan calculator before applying helps borrowers evaluate affordability and compare financing scenarios.

Herring Bank encourages borrowers to review estimated payments early in the process to make informed financing decisions.

How Credit Score Affects RV Loan Rates

Credit score is a primary factor in determining RV loan rates. Higher credit scores typically qualify for lower interest rates, longer terms, and lower required down payments.

Borrowers with lower credit scores may still qualify for RV financing but may experience higher rates or additional requirements. Understanding how credit score affects RV loan approval allows borrowers to prepare and improve terms before applying.