A Travel Trailer Loan Will Get You Your Dream RV

A travel trailer loan specifies exactly what the loan is, it is for a travel trailer. There is no mystery here, it is purely to give the loan a catogery into which it fits. What type of loan it is, is more important to the lender as this sorts out the risk and whether you will qualify for the loan.

You will either visit your branch and sit down with a lending officer or have a mobile lending officer from your branch come and see you.  


At a bank it is your history that is important to them and your ability to service the loan, and make the payments on time. It also means you have to have enough income left over to easily pay and that you also have a stable employment record.

With a bank all of these factors are used to qualify you for the travel trailer loan. The loan at a bank comes to you at the lowest interest. The banker also requires an asset like your home to back the loan in case of a default. 

Finance Companies

With a finance company it is very much the same, with you having to qualify for the loan. But usually they want proof of income and employment the same as the bank does.

This is usually done by the dealer who you are going to buy your dream RV from. The finance company does not want your home as corlateral as a bank does.

They prefer to take title over the travel trailer you buy. You will not own the travel trailer until it is fully paid for. This is done in case of a default so that they can take and sell the travel trailer to pay the outstanding loan. The interest is higher than at the bank because the risk is higher.


You may have your own home but are to busy to go to your branch so you call a broker to handle the paper work for you on you behalf. They will go out into the market to find you the best deal. In some cases they may advise you to move banks but this is a bad idea in the long run.

It is only suitable if your bank will not lend you what you need. Otherwise the broker will get you the best deal possible at your bank. Brokers are good for you to use if you want to save time and do not want to take time off work.

Credit Union

Another place you can get a travel trailer loan is at a credit union. Usually though you have to be a member of the credit union to qualify to use their service.

This is how it used be but this may have changed. Once again though they are going to want to qualify you for the loan the same as any other lending institution.

They are going to want proof of income and a stable employment history. And again they are only interested in your ability to pay the loan off.

They are the same as the finance company taking title over the travel trailer you purchase until it is paid off. The interest is higher due to the higher risk.

Credit Rating

Another important piece of information they will require is your credit rating. This shows the lender what kind of a risk you are to them. If your credit rating is low or has a mark on it this can be another reason for them not to lend to you.

So it pays to check your credit rating before applying to any lending institution. So make sure it is up to the level where you  qualify for the travel trailer loan. Then you will be able to purchase your dream RV.

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