RV Financing and Buyer Guide
Life in the RV
RV Buying & Financing Guide
Everything you need to know before you sign anything. Work through all three sections before you step foot in a dealership.
New vs Used RV
The right answer depends on your situation — not what the dealer tells you.
Mary’s take after 9 years full-timing
Most full-timers who’ve been on the road a while will tell you the same thing — used is almost always smarter for your first rig. Let someone else take the depreciation hit. Your second RV will be a much better purchase because you’ll know exactly what you actually need.
✔ Buying New
Full warranty coverage
Latest features and tech
No unknown history
Easier to finance
Depreciates fast — 20-30% in year one
Higher purchase price
New RVs often have quality issues
✔ Buying Used
Someone else took the depreciation
Lower purchase price
Known issues already fixed
More negotiating room
Unknown maintenance history
May need repairs sooner
Harder to finance if older
What full-timers consider differently
If this is your permanent home, reliability matters more than it does for weekend campers. A breakdown on vacation is inconvenient. A breakdown when it’s your only home is a crisis. Factor in the age of major systems — roof, slide mechanisms, plumbing, electrical — not just the overall price.
RV depreciation reality
A new $100,000 RV can lose $20,000–$30,000 in value the moment you drive it off the lot. By year 3, it may be worth 50-60% of what you paid. Buying a 2-3 year old RV in good condition lets you skip that initial drop while still getting a relatively modern rig with many of its useful years ahead.
⚠ Watch out for this
Dealers will push new because their margins are higher. “We can get you into this new one for only $200/month more” sounds small but adds up to $2,400/year and thousands in interest over the life of the loan. Run the full numbers, not just the monthly payment.
Financing Your RV
Don’t walk into a dealership without understanding this first.
660+
Credit score typically needed for RV loan
10-15%
Typical down payment required
7-20yr
Typical RV loan terms
Where to get financing
Credit unions — Usually the best rates. Apply before you shop so you know your budget.
RV-specific lenders — Companies like LightStream, Good Sam Finance, and Essex Credit specialize in RV loans.
Dealer financing — Convenient but often higher rates. Use it only if you can’t beat it elsewhere.
Banks — Your existing bank may offer competitive rates, especially if you have a good relationship.
Get pre-approved BEFORE you shop
Knowing your pre-approved amount and rate before you walk into a dealership gives you real power. You’re not dependent on their financing, you know your actual budget, and you can negotiate on price — not monthly payment. This is one of the most important things you can do before buying.
What lenders look at
Credit score — 700+ gets you better rates
Debt-to-income ratio — your monthly debts vs income
Down payment — 10-20% shows you’re serious
RV age — many lenders won’t finance RVs over 10-15 years old
Employment/income stability — remote work income counts if documented
Full-timing and financing
If you’re selling your home to buy an RV, some lenders get nervous about full-timers having no fixed address. Be honest about your plans but know that declaring the RV as your primary residence can affect your loan options. Some lenders specifically offer full-timer loans — worth asking about.
⚠ Never negotiate on monthly payment alone
Dealers love to talk monthly payments because they can hide a lot in the numbers — higher price, longer term, add-ons you didn’t ask for. Always negotiate the total purchase price first. Then figure out financing separately.
Getting an Inspection
This is the step most buyers skip. It’s also the step that saves the most money.
⚠ The PDI is NOT the same as an independent inspection
A Pre-Delivery Inspection (PDI) is done by the dealership — they’re checking their own work. An independent inspection is done by a certified RV inspector who works for YOU. They are not the same thing. For a used RV especially, always get an independent inspection.
PDI (Dealer)
Usually free
Covers basic systems walkthrough
Dealer is checking their own work
May miss or hide issues
Not independent
Independent Inspection
Works for YOU
Unbiased findings
Can find hidden issues
Negotiating leverage
Costs $300–$600
A $400 inspection can save you $10,000+
Water damage, roof delamination, slide issues, and electrical problems are common in used RVs and can cost thousands to repair. An independent inspector knows exactly where to look. If they find issues, you can negotiate the price down or walk away. Worth every penny.
Pre-purchase inspection checklist
Check all exterior seams and seals for cracking or separation
Inspect roof for soft spots, cracks, or delamination
Check all slideouts — they should extend and retract smoothly
Test all appliances — fridge, stove, oven, microwave, AC, heat
Run all water — check for leaks under sinks and around toilet
Check water heater — both electric and propane modes
Test all lights, outlets, and USB ports
Inspect undercarriage for rust, damage, or road rash
Check tires — age, tread, and signs of dry rot
Test leveling jacks and stabilizers
Check generator (if equipped) — start it and run under load
Smell for mold, mildew, or propane inside
Check for soft floors — signs of water damage underneath
Request full maintenance records
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How to find a certified RV inspector
Search NRVIA.org (National RV Inspectors Association) for certified inspectors near the RV’s location
Expect to pay $300–$600 depending on RV size and location
Ask for a written report with photos — not just a verbal summary
If buying privately, the seller should allow an inspection — if they refuse, walk away
Have questions about buying your first RV? The Full Time RV Roadmap community has experienced full-timers who’ve been through every part of this process. Join us and ask anything.
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