RV Buying Tips: Can I Get a RV With Bad Credit?


One of the biggest surprises in 2020 was the jump in RV sales. RV sales jumped by 4.5% in 2020, and they could increase by 19% in 2021.

Since COVID-19 cut down on the ability to travel, people turned to RV travel for their vacations.

With so much demand for RVs, you might be wondering if it’s possible to get an RV with limited financing options. You could be in a situation where you have bad credit and you want to know what your options are.

Read these RV buying tips to learn how you can get the best RV with bad credit.

What’s Your Credit Score?

You need to check your credit score and look over your credit report to find out why your score is what it is. You might find that your score is low because of misreporting.

You can check your credit report at Annual Credit Report for free once a year. Ideally, your credit score should be above 700. You can still get an RV loan if your score is between 670-700.

However, you’ll have a hard time getting approved for a loan if your score is below 670.

Tips to Improve Your Credit Score

If you’re looking to purchase an RV 6-9 months down the road, you have some time to improve your credit score. The advantage to doing so is that you’ll pay a lower interest rate on your loan.

Even bringing up your score by 10 points can make a big difference in how much you pay for the entire RV purchase.

How can you bring up your credit score? Make sure that you make all of your debt payments on time. That includes student loans, credit cards, and mortgage payments.

The next thing to do is look at your credit utilization rate. This is the amount of credit you use and the amount you have available. This accounts for a significant portion of your credit score.

Your credit utilization rate should be around 30%. So if you have $10,000 in credit available and you have $7,000 in credit card debt, then your utilization rate is 70%. Bring that down to $3,000 to raise your credit score.

Look at Financing Options

If you know what your credit score is and want to buy an RV now, then you should look at your financing options.

For scores below 670, you should skip banks and traditional lenders. They’ll only turn you down for a loan, which will show up on your credit report and bring your score down a few points.

There are dealers that offer RV financing for people with lower credit scores. Be sure to check with a few dealers and compare their terms.

You want to check the interest rate of the loan and how long the loan is for. You could have low monthly payments, but the loan might be for 30 years, which will outlive the life of the RV.

New vs. Used RVs

An RV can cost anywhere between $10,000 and $100,000. That depends on the size and class of the RV.

You can bring down the cost of buying an RV by getting a used RV instead of a new one. A used RV can be a crapshoot because you don’t know the maintenance history of the RV.

At the same time, the money saved to buy the RV, and insure it can be worth it. You may find that it’s best to buy a used RV from a reputable dealer that has a warranty on the vehicle.

RV Buying Tips and Advice

Once you know how you can finance your RV, you can start shopping for the RV. These RV buying tips will help you make sure that you get the right RV that fits your needs.

Know Your Wants and Needs

You need to figure out how you’re going to use the RV before you get started. Do you plan to live in the RV or take it on long road trips? Are you traveling with your family?

Do you or your kids need access to WiFi while you’re on the road?

These questions will tell you what size RV you need and the features that are most important to you.

RV Classes

RVs are put in different categories or classes. An A-Class RV is likely to be large, luxurious, and have everything you could want. They’re also really expensive.

Class B RVs are smaller and have plenty of features. They’re not roomy, so if you’re not planning on spending a lot of time inside the RV, this can work for you.

A C-Class RV is smaller and easy to handle. They’re fuel-efficient and cost less than Class A and B RVs.

RV Parking and Storage

You go out and get an RV on an impulse. You bring it home and realize that parking is a problem. You don’t want to park it on the street, and you don’t have room in your driveway for it.

Before you go out and get the RV, figure out where you’ll keep it. There are RV storage companies that will keep your vehicle safe, but you’ll spend more money.

RV Maintenance

It’s not the actual work of maintaining your RV. You have to factor in the costs, too. If you know little about RVs, then you want to have a low-maintenance vehicle.

You should have an RV maintenance checklist that tells you what you need to do before you head out on a road trip. You’ll have to check the seams of the roof, tire pressure, and the water lines to make sure everything functions properly.

There are monthly and annual tasks as well. Some of these tasks can be done on your own and others require specialized help.

Take to the Open Road in Your RV

The COVID-19 pandemic changes how we live and vacation. If you’re looking at buying an RV for future vacations, these RV buying tips show that you can buy an RV with bad credit.

You need to know your credit score, find financing, and buy the right RV that matches your needs and your budget.

Be sure to visit the Maintenance section of this site for tips to maintain your RV and other vehicles.

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