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The average rate for an RV loan for borrowers with good credit was 11.45% in May 2024, versus 9.39% for those with very good credit, according to online marketplace LendingTree. Borrowers with ...
And the best RV loan rates generally go to people with excellent credit scores. That said, some lenders offer loans for borrowers with credit scores as low as 550, but the rate and monthly payment ...
The best RV loan rates typically go to borrowers with scores in or above the mid-700s. You may also get an extra incentive on your rate with a down payment of 10 to 20 percent.
Lenders use credit scores to gauge your level of credit risk or likelihood of repaying the loan. Most lenders require a FICO score of at least 670 to qualify for an RV loan. However, some will ...
Studies have shown that the average per-unit finance cost can be higher when financing through a dealership than independent lenders. For example, one study found that the price increased by $674 when dealer financing was used, potentially due to additional products or services (an average of 4.63 add-ons per deal) in the financing package. [7]
An excellent credit score is one of the most important factors when it comes to securing competitive rates for all loans, RV loans included. A score that falls in the mid-700s or higher will ...
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