For many RVers, buying a rig is one of the biggest purchases they’ll ever make—second only to buying a home. That’s why we’re curious: At this very moment, do you own your RV outright, or are you still making payments on it?
We all know that RV ownership comes with plenty of rewards—freedom, adventure, and the ability to bring your “home” just about anywhere. But it also comes with costs, and financing is a common part of the equation. Depending on the type of RV and the terms of the loan, monthly payments can stretch across 10, 15, or even 20 years. Some folks dive in with big down payments and aggressive payback schedules, while others are more comfortable spreading the cost out over time.
So today we want to know: Do most of you own your rigs outright, or is monthly financing the norm? If you’re someone still making payments, we’d love it if you’d share how much longer you expect to be making those payments. Your insight could help fellow RVers who are weighing their own financing options or just trying to understand what’s typical in the community.
Paying off an RV can be a huge relief—no more monthly bills, and more flexibility to use that money elsewhere, like fuel, campground fees, maintenance, or travel adventures. On the flip side, having an RV loan isn’t necessarily a bad thing. For many, it’s what makes RV life possible in the first place. Especially when interest rates are low, financing can be a reasonable way to hit the road sooner rather than later.
So tell us—where do you stand? Is your RV all yours, or are you still in payback mode? Take the poll and, if you’re willing, leave a comment with your loan timeline. You never know who might benefit from hearing your story.
MORE POLLS YOU MIGHT ENJOY:
- How many miles will you put on your RV this summer compared to last?
- Do you play Pickleball?
- Did you buy your present RV new or used?
- How many nights in a row do you wear the same pajamas?
RVDT2672
Cash is king.
Not when the dealer can make a fortune upcharging junk fees related to financing.
Paid cash for the first 3 but are over half way done due to extra principal payments.
Financed to get a big discount. One month later paid off the balance
Were there additional fees related to the financing? You can bet the dealer added a ridiculous upcharge to every one of them.
Never had a vehicle payment so I damn sure not going to have an RV payment!
2 year loan Paid off in 17 months in 2011
Same as one of the other comments. I wanted to pay cash, but was told that it would cost an extra 15% if I did. So, I financed it and paid it off 3 weeks later. Cost me $300 but saved me over $14500.
If we can’t afford to pay cash for it, we don’t buy it. We save up for any luxury item. That included our RV.
We always buy used, staying within our budget.
I make payments. Bought my trailer at 65 years old. If I waited until I had the cash I would be way too old to drive it. No regrets, loving every minute. (And besides, my payments are less than $200 per month.)
We originally financed it but decided to pay it off due to the high interest rate.
I paid $300 for my old MH 10 years ago and it’s still chugging along.
Somewhere in the back of my mind, I’m thinking it’s illegal to have two different prices – one for cash and another for financing. If it isn’t, then don’t deal with that dealer – they’re crooks. My dad taught me long ago, “Son, always pay cash for your adult toys.” Sage advice.
Thank you for the question, RV Travel! We do own RV #2 outright and we did pay cash for it. But, we also make payments that are necessary only because of it. The payments are to a local S&L to reduce our home equity line of credit, which was used to allow us to pay cash for RV #2. Have a great day and safe travels!
We financed about a fourth of the cost of our motorhome. Tax deductible and we are paying interest on a declining balance rather than earning interest on a lower balance in the account we could have used to pay for the whole thing. Probably won’t be paid off until we sell the motorhome when we go into the “home”.
Bought new in 2010, we keep it in our shop building. 2010 Nash small fifth wheel we love!
financed for 20 yrs to get low monthly payments, made 2 payments and then paid it off with maturing CD
I never bought a new car but once-that cured me into buying used cars between 2 and 4 years old- but only from a used car lot of the same brand- IE Used Chevy from a Chevy lot- indicates owners were happy with their experience I bought my Lil Snoozy cash, but only because I’d come into a $$ windfall
We just bought our camper brand-new, and we make payments on it, but it was less than $18k so we should be able to pay it off before the original payoff time.