What Is an RV Loan and How Does It Work?

Depending on the value of the RV, getting a loan can be easy or quite complicated.
What Is an RV Loan and How Does It Work?
An RV camp site at sunset. With RV prices ranging between $10,000 and $1 million, most people finance the purchase with an RV loan. Dreamstime/TNS
Tribune News Service
Updated:
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By Denny Ceizyk From Bankrate
RV loans work similarly to other types of installment loans. If you qualify, the lender gives you a lump sum to pay for your RV and you make monthly payments of principal and interest until it’s paid off.