What Is A RV Title Loan And How To Apply

RV title loans are an excellent way to get cash when other lenders have turned you down. Many people use the equity from a motor vehicle to pay for emergency expenses when they have no other lending options, and an RV title loan can be great for someone looking to borrow $2,000 or more. Car Title Loans 123 enables RV owners to use their titles as collateral against a loan without selling their RV for cash! You can get approved in less than 24 hours and don't have to hand over the RV itself! Instead, your lender uses the motorhome's title as security for the loan, and you'll get the title back once the loan has been fully paid off!

If you own an RV and need money fast, several options may be available to help make your life easier.  This type of loan is great for people with valuable recreational vehicles because you can get a large amount of cash, even with bad credit.

RV title loans are available to applicants who have paid their RV off and, in other situations, for those with significant equity. You can get cash by using the equity in your RV as collateral for an instant online title loan. These loans allow RV owners to use their motorhomes, travel trailers, fifth wheels, and other RVs as collateral for fast cash! In some cases, you can get up to $100K in 24 hours or less with RV title loans.

Loan Amounts With RV Title Loans

How much money you can borrow with RV Title Loans depends on the value of your RV as well as the current condition and mileage. You can tell you exactly how much they are willing to loan based on your RV's value, but as of 2024, the average RV title loan amount is $3,500. Loan amounts are typically smaller for lower value RVs such as fifth wheels and toy haulers.  Lenders may be more interested in offering higher loan amounts if your title is free and clear and you have no current loans and liens. Repayment terms vary based on your interest rate, but you should expect a 9 to 36 month payoff term.

In some situations where a recreational vehicle carries a high value, you can expect far more money than you would get from a typical car title loan with amounts of $5,000 to $30,000. RV title loans are considered high risk because of the collateral, but they can be helpful when you need money for one-time expenses or emergencies.

Benefits Of Title Loans With Recreational Vehicles

If your RV is paid off, RV title loans are an excellent way to get cash for a financial emergency. With RV title loans, you can borrow up to 75% of your RV's value, and you can always repay the balance of your title loan early with no prepayment penalty. You do not have to take out a loan with a dealer who could charge you high interest rates on your loan. Another benefit is that you can be approved with bad credit or no credit record. Lenders are mainly looking at how much your property is worth and whether the RV value is enough to get qualified, even with poor credit!

RV owners may also consider using equity lines of credit to tap into the available equity from their motor home or travel trailer. RV title loans can be a good option for owners in a bind who have a lot of equity to use as collateral. These loans are one of the most common types of short term funding for owners of recreational vehicles, campers, and travel trailers. While RV owners make up a small percentage of customers approved for title loans, the loan amount is often much higher.

Another advantage of working with an online company is receiving money without giving up your RV. When you go through a local lender, you may run into issues when your RV has a high resale value, and they may decide not to let you borrow all that you need or want to charge excessive rates on your loan. In some cases, they may even want to hold the RV itself as collateral, whereas they should be fine with just the pink slip as security for the loan. Reach out to Car Title Loans 123 if this happens, as we'll get multiple quotes from companies that offer secured RV title loans!

Interest Rates And Fees For RV Title Loans

RV title loans offered online have high interest rates, mainly because you don't need good credit, which are high dollar loans. Interest rates start at 20% and go up to 100%, depending on your underwriting profile and loan repayment ability. The good thing about bad credit title loans on a recreational vehicle is that anyone with a lien free title can qualify. Even if you have no credit history, you can still get funded and expect a loan of $5,000 or more if you have a paid off RV that's worth at least $10,000!

Work with Car Title Loans 123 to find online title loans without pre-payment penalties. If you want a lower monthly payment, consider your RV's current resale value for a better repayment term. Ideally, you'll get a funding amount that takes care of your financial issues, but nothing that's too high where you would ever need to get out a title loan contract!

Car Title Loans 123 offers same-day quotes and repayment estimates for RV title loans and you should qualify if your recreational vehicle is paid off. You can apply online or call us at 844-567-5011. Get started to see how much equity you have in your motorhome, travel trailer, or fifth wheel today!