RV Financing Doesn’t Have to Be Hard! Here’s What to Know

Whether you’re planning cross-country road trips, long weekends at the lake, or a new snowbird lifestyle, an RV can give you the freedom to travel on your own terms. But unless you’re paying cash, RV financing will be part of the journey—and it’s important to do it the smart way.

At Crossroads Trailer Sales, we help buyers of all experience levels get the best RV for their needs—and the right financing to go with it. This comprehensive guide covers everything you need to know about financing your RV, including budgeting, loan options, insurance, tax tips, and more.

 Set a Realistic Budget

Before you fall in love with a particular RV model, figure out how much you can comfortably afford. While the monthly loan payment is a key factor, it’s just one piece of the puzzle.

Here’s what you should include in your RV budget:

Expense Estimated Annual Cost
Loan Payment Based on purchase and terms
Full-Coverage Insurance $800 – $2,000+
Maintenance & Repairs $1,000 – $2,500
Winter Storage $500 – $1,200 (if applicable)
Registration, Title, Taxes Varies by state
Campground Fees, Fuel, etc. Varies by usage

Many new owners are surprised by the cost of tires, roof resealing, battery replacements, and annual inspections. Build in room for those “hidden” costs and set aside a maintenance fund each year. If you find yourself in need of maintenance, call us for on-site RV service or mobile RV service in South Jersey!

A person checks their credit score on their phone for RV financing.

Check Your Credit and Know Your Loan Options

Your credit score plays a big role in what interest rate and loan terms you’ll qualify for. In 2025:

  • A credit score of 720+ generally qualifies for the lowest interest rates.
  • Scores between 650–719 may still get good terms, though possibly with higher rates.
  • Scores under 650 may require larger down payments or shorter loan terms, but financing may still be available.

RV Financing Options:

  • Dealer Financing: Convenient and fast. At Crossroads, we work with multiple lenders to help you compare options and secure competitive rates.
  • Credit Unions & Banks: Often offer lower rates, especially if you have an existing relationship.
  • Online Lenders: Easy to apply and compare terms, but be sure to check their reputation.

Most RV loans are available in terms from 10 to 20 years, depending on the amount financed. Shorter loans save you money on interest, while longer terms lower your monthly payment.

Get Pre-Approved Before Shopping

Getting pre-approved for an RV loan is a smart move that helps you:

  • Shop with a clear price range in mind
  • Strengthen your position when negotiating
  • Lock in a good interest rate before it changes
  • Move faster once you’ve found the perfect RV
A woman leans against a motorhome and checks her phone.

To get pre-approved, you’ll need documentation such as proof of income, employment history, a government-issued ID, and an idea of your down payment. Most lenders prefer 10%–20% down, but options are available for lower amounts depending on credit.

Plan for Maintenance and Unexpected Costs

Even the best RVs require regular upkeep. These are more than just a vehicle or a regular trailer. That means more systems, more moving parts, and more potential repairs over time.

Common Maintenance Needs:

  • Roof resealing and inspections
  • Tire replacements every 5–6 years
  • Generator and battery maintenance
  • Brake and suspension checks
  • Slide-out and seal lubrication

Setting aside $1,000 to $2,500 per year for maintenance and repairs is a good rule of thumb. It’s also a smart idea to consider an extended warranty for additional peace of mind.

Understand Depreciation and Resale Value

Like cars, RVs lose value over time. In fact, many depreciate 30%–40% within the first five years. That’s why it’s important to buy a model that fits your lifestyle now, but also holds value if you want to trade or sell in the future.

Ask our team which brands and floor plans retain their value best, especially if you’re thinking of upgrading in a few years.

Don’t Forget Insurance and Protection Plans

Financed RVs must carry full coverage insurance, including:

  • Collision and comprehensive coverage
  • Liability insurance (especially for motorized RVs)
  • Personal injury protection
  • Uninsured/underinsured motorist coverage

Other recommended coverage:

  • GAP Insurance: Covers the difference between your loan balance and the RV’s value if it’s totaled.
A couple reviews insurance options to decide which policy they should choose.
  • Extended Warranty: Helps cover major systems and repairs not included under manufacturer warranty.
  • Roadside Assistance: Critical if you’re traveling far from home.
  • Anti-Theft Devices: Some insurers offer discounts for GPS trackers, wheel locks, or hitch locks.

At Crossroads Trailer Sales, we can help connect you with trusted insurance providers and explain optional coverage add-ons.

Explore Tax Benefits and Incentives

Depending on how you use your RV, you might qualify for tax deductions or credits.

Potential tax benefits:

  • Mortgage interest deduction if the RV qualifies as a second home (must include sleeping, cooking, and bathroom facilities).
  • Federal tax credit for solar panel systems or clean energy upgrades.
  • Depreciation and expense deductions if you rent out your RV part-time.

We recommend speaking to a CPA or tax advisor to understand what’s available in your specific situation.

Ask About Green Financing and Eco Incentives

Energy-efficient RVs are gaining popularity, and some lenders now offer better rates if your RV includes green features like:

  • Solar panel packages
  • LED lighting and energy-efficient appliances
  • Electric or hybrid tow vehicles

You may also qualify for state or federal incentives if you invest in renewable energy upgrades.

Consider Refinancing Later

Just because you locked in a loan today doesn’t mean you’re stuck with it forever. Many RV owners choose to refinance after:

  • Improving their credit score
  • Market interest rates drop
  • Wanting to reduce monthly payments

Even shaving off 1–2% from your interest rate can lead to thousands in savings over time.

Work With a Dealer Who Has Your Back

At Crossroads Trailer Sales, we’re more than just a dealership; we’re your long-term RV partner. From helping you find the right RV to securing smart financing, to ongoing RV service, we’re here to guide you every step of the way.

Our finance experts are friendly, experienced, and dedicated to getting you into your dream RV, without hidden fees or last-minute surprises.

Ready for a New RV?

Start your search at Crossroads Trailer Sales in Newfield, New Jersey. You’ll find the best RV deals and the best customer service in the northeast at our dealership! We’ve been providing RV sales, parts and service for over 30 years. Get started by browsing our inventory online today!