What if your score is a 580? Should you just give up and rent a tent? Not so fast. Some lenders specialize in “subprime” loans. They’re out there.
But be ready: you’ll need a down payment of at least 20%. Also, your interest rate might make your camper payment feel like a second mortgage. Ouch.
Or you could get a co-signer. Someone with great credit who loves you enough to risk their score for your wanderlust. That’s a real friend.
What About “No Credit” People?
Ah, the invisible credit ghosts. If you have no score, lenders get nervous. They can’t judge you, so they default to “danger.”
Your best bet? Save up a huge down payment—like 30-40%. Or buy the camper from a private seller who doesn’t care about your FICO. Cash is king in this barter.
Which FICO Score Is Used for RV Loans: Understanding Credit Scores for
Just don’t be shocked if a dealer offers you a loan with a 20% interest rate. That’s their “I don’t know you” price.
