What credit score is used for RV loans?

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Many sources say that the lowest credit score range at which to qualify for an RV loan is around 650-660. Ideally, your credit score should be closer to (or over) 700. Such a score demonstrates strong creditworthiness, usually through a consistent payment history and low balance utilization.

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Additionally, can I get an RV loan with bad credit?

Depending on the RV dealership you work with, you may be able to get an RV loan, even with bad credit. … If you shop around for a loan at a bank, credit union or online lender first, you can take that offer to the RV dealership and ask them to beat the rate you have in-hand.

Accordingly, does Capital One do RV loans? You can’t get a Capital One loan for just any new or used car; there are some factors that make certain vehicles ineligible. … Commercial vehicles, motorcycles, ATVs, recreational vehicles (RVs), and camper vans are also excluded.

Moreover, what is the average rate for an RV loan?

The average RV loan has a higher interest rate than the typical car loan, and also tends to be longer. According to data from S&P Global, the average RV loan’s interest rate is 6.17% for a new RV purchase and a 36-month loan term, and 6.15% for a 60-month loan on a new RV purchase.

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