RV & Motorhome Loan Rates in 2024

How to shop online for RV financing at the best rates.

The highly favorable RV loan rates that were common since the "Great Recession" until just a few years ago may be history. In 2024, with the "new and improved" outbreaks of the COVID-19 virus epidemic, RV loan rates and most other lending rates will begin trending downward this year since the Fed has finally chewed its collective fingernails down to the quick. Therefore, the rational option is to lower rates, heal those jagged "half-moon" nails, and maintain plausible deniability.

Just picture the dealers' large inventory as a herd of slide-out-equipped, self-leveling elephants munching on "their" loan interest daily. I see opportunities ahead and I can't help but feel bullish for the year to come.

Even though interest rates for RV financing may be higher than you may have hoped, the glut in RV dealers' inventory has created a buyer's market, so what you may lose in higher financing rates may be recovered in lower purchase prices. Just picture the dealers' large inventory as a herd of slide-out-equipped, self-leveling elephants ravenously munching and making copious daily deposits on the savanna of the dealers' floor-plan loan interest.

In other words, if you've been "hunting" for a new RV - Now may be the time to pull the trigger and bag one of those interest-munching "heavys." (At a bargain price, of course.)

Compare the RV market to the auto sales market for the last few years. Used car prices have been on the rise for the last 5 years. New car sales are beginning to gain momentum because used auto prices are almost as high as new units. Demand has finally caught up with supply.

This parallel could mirror the foreseeable future of the sales market for RVs. The limited supply produced by manufacturers in recent years, quickly becoming the sudden increase in dealer inventory, and the large numbers of retiring baby boomers suggest the demand for RVs will continue to climb. The economy, relating to RV sales, is moving from a buyer's market to the seller's. As demand continues to rise, supply will soon begin to become more limited.

For several years - and still going strong this year - we have seen a growing trend in sales of older, used, "Luxury RVs". They took a BIG hit in value over the recent "Fed-scapades", and now people are looking at these over-built - and now, under-priced beauties as an affordable option. Luckily, SOME of our lenders have seen the safety in financing older units, (Up to 8-10 model years old), and are approving loans on more and more older motorhomes.

At RV dealerships across the nation, spirits are high. Manufacturers shipments of RVs for this year have been forecast near their highest levels since the Great Recession. Currently, RV prices have remained more than reasonable, and for qualified buyers, financing rates and terms are exceptional, especially if you know how and where to look. Check today's best RV loan rates.

We all have our financial comfort zones, and know how much we can afford to reasonably add to that. When we look at all the facts, it becomes a compelling argument to buy now, rather than wait until the rates, and prices have risen beyond our financial ability.

Once again, if you're going to make a move - You might consider making it soon.

With all that we've been through in the "Covid-19 Crisis", it is a pleasure writing about good news. Looking forward, I see opportunities ahead and I can't help but feel bullish for the year to come.