Getting an RV loan with 620 credit score: Financing a recreational vehicle, also known as an RV, will allow you to see the country, vacation comfortably, or visit relatives and friends. 

Once you’ve decided to purchase an RV, your first step is figuring out RV financing, especially since an RV is probably the second most expensive purchase you’ll ever make, after your home.

A 620 credit score isn’t good or bad, it’s fair. According to Experian: 17% of all consumers have FICO® Scores in the Fair range (580-669)

So, if you aren’t happy with the interest rates quoted for your current situation, there is room for improvement.

The good news is you are definitely eligible for a new, used, or refinance RV loan.


Can You Get A RV loan with 620 credit score?

Depending on the type of recreational vehicle you wish to purchase — and how much it costs — a personal installment loan may be an option. 

Personal loans typically range from $500 up to $35,000 for well-qualified applicants, however, so they may only be an option for used and/or smaller RVs or non-motorized campers.

The amount of financing you are able to obtain through a personal loan lender will vary significantly with your credit profile. 

One of the easiest ways to get multiple quotes and compare offers is to use an online lending network like our expert-rated picks below.

Your ability to qualify for RV financing through a dealer will depend a lot on your individual credit risk, the dealer, and the size of your down payment. 

Dealers may require smaller down payments than banks, but they will still likely require at least 10% to 20%.


Want to Improve Your Score For A Better RV Loan?

The better your score the lower your interest rates. If your credit score is at 620, that just means you are 80 points from a 700 FICO score. 

With a 700 or above you will be quoted better monthly payments and interest rates. 

A few things you can do increase your credit score:

  • Improve your credit to debt ratio (pay down debt)
  • Call A Professional For Free Consultation 
  • Get A Credit Increase
  • Dispute Negative Items
  • Get a New Credit Line (don’t abuse it)

Among consumers with FICO® credit scores of 620, the average utilization rate is 72.3%.- Experian 

Here are 3 legitimate credit repair companies that you can call for a free consultation:

  1. Ovation Credit Services 
  2. Lexington Law


How Many Points Do You Need To Get A Better RV Interest Rate? 

Moving Forward

Good luck getting your RV loan with 620 credit score. We hope this information and resources gets you closer to your new motorcycle.  

You definitely can get an RV loan with a 620 credit score but, if you can, hold off until you improve your credit score by 100 points.

Finding the best auto interest rates can save you thousands. It just takes some planning, a bit of persistence, and compromise.

James Willaims

Hey There, James here. I am the co-founder and editor of this site. I have over 10 years experience in business and 5 in the credit repair world

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