In 2023, 3.7% of American consumers took out car title loans. But did you know you can also take out a title loan using your RV?
RV title loans let RV owners borrow against their vehicles’ value. If you own an RV with a clear title, you may be eligible to borrow money against it to address a financial emergency.
Having bad credit doesn’t necessarily disqualify you. Lenders focus instead on factors like your income and the market value of your RV. These loans are made to help those with bad credit who need emergency funds.
Key Takeaways
- If you own an RV, you can potentially secure a same-day loan by using your RV title as collateral.
- With RV title loans, you can still get approved even with bad credit, as long as the title is in your name.
- An RV title loan can range from $100 to $50,000, or 25% to 50% of your RV’s value.
- You can keep your RV and continue to use it freely while you are repaying the title loan.
- If you don’t repay the loan, then your RV can be repossessed, meaning that you lose the vehicle.
How to Get a Quick Online RV Title Loan
1. Apply in Minutes
Complete our online application in about 7 minutes* to see if you pre-qualify and get a free estimate. Provide basic information about your RV, income, and contact details. Prefer in-person service? You can also apply at a Swift Title Loans store near you. To talk it through with someone first, give us a call.
2. Send Documents & RV Photos
If you want to continue, upload your income documents and RV photos. We use them to verify your information, review your title, and estimate your RV’s value. In most cases, photos replace the physical vehicle inspection,^ but in-person service is also available if needed.
3. Review Your Offer & Get Funded
Review your final offer, including your payments and total loan cost. If you accept the terms, sign your agreement and receive your funds. Same-day funding may be available if the process is completed before noon on a business day. You keep your RV and continue driving while repaying the loan.
What Is an RV Title Loan?
An RV title loan works like any other vehicle title loan.
You use your recreational vehicle title as collateral to secure the loan. The loan amount is based on the value of your RV and your capacity to repay the loan, not just your credit score. This means you can still get an RV title loan even with bad credit.
Once you get the money, you repay the loan with interest through monthly payments while keeping your RV. However, if you fail to repay the loan, the lender can repossess your vehicle.
How Much You Can Borrow and Which RVs Qualify
An RV title loan lets you use your RV title as collateral to receive funds while continuing to travel and use your RV with your family. In most cases it can also be handled as one of our online title loans with no store visit.^
You can borrow based on your RV’s value, typically around 25% to 50%, depending on your equity and your ability to repay. Most types of RVs may qualify, including motorhomes and other recreational vehicles, as long as the title is in your name and has enough equity.
After full repayment, the title is returned and the lien is removed.
RV Title Loans Pros and Cons
Pros
- Get the money quickly, sometimes even in just a few hours
- You can get approved if you have no credit or poor credit history
- Pay off the loan early without any penalties or fees
- Use the money for whatever you want or need
- Get your RV title back when the loan is repaid
Cons
- Many loans come with high interest rates
- Risk of losing your RV if you don’t repay the loans
What Are the Requirements for RV Title Loans?
To get an RV title loan, you will have to share the following documentation:
- RV title in your name
- Some proof of income
- A government-issued ID
You will sometimes also be asked to share these documents:
- Photos of the RV exterior and interior
- Proof of insurance
- Proof of residence (typically in the state where you are getting the loan)
- Proof that there are no existing loans on the RV
RV Title Loans vs. Mobile Home Title Loans vs. Travel Trailer Title Loans
We provide title loans for various types of vehicles, but some may be easily confused.
Here is a Table for Your Reference
| Type of Vehicle | Description | Is It a Vehicle? | Is It a Home? | Can You Take Out a Title Loan? |
| RV | An RV, which stands for Recreational Vehicle, is a vehicle with living quarters attached to it. | Yes | Yes | Yes |
| Mobile Home | A mobile home is a home or structure that is pre-fabricated and then transported to a certain location to be used as a permanent home | No | Yes | No |
| Travel Trailer | A travel trailer is a caravan or camper that you hook to the back of another vehicle and pull. | No | Yes | No |
Understanding the Risks of RV Title Loans
When signing the contract on your title loan, remember to check the terms closely. If you do not pay the loan according to the terms, then your RV can be repossessed. We recommend taking out a title loan as a sort of last-resort option for when you are really in dire straits financially.
Frequently Asked Questions
Can an RV Be Used as Collateral?
Yes! You can use an RV as collateral for a title loan. Since an RV is a vehicle, it qualifies for this type of loan. The process is quick and can be conveniently completed online.
What Credit Score Do You Need for an RV Loan?
You don’t need to have any particular credit score in order to take out an RV title loan. You can even get an RV title loan if you have no credit score at all. title lenders want to see your financial situation “big picture,” and their primary concern is the ability to repay the loan.
Is it Hard to Get Approved for an RV Loan?
RV title loans are secured loans that use your RV as collateral, which can make approval easier than many other loan types. While a credit check may be performed, it is not the main factor for approval.
As long as you are over 18, have an RV title in your name, and can show the ability to repay, approval is usually straightforward.
