If you’re planning a travel adventure across Canada or even all of North America, an RV offers a comfortable home away from home when you go exploring. But an RV is also a major purchase, so you’ll need to compare RV financing in Canada to help you get on the road.
In this guide, we’ll show you where to get motorhome financing in Canada, including loans for trailers and campers too, and how to get the best RV loan rates.
Compare RV loans in Canada
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Loan search platforms like My Auto Approval make it easy to compare and choose RV financing options. Once you fill out a single online application, you can compare offers for travel trailer financing in Canada from multiple lenders.
There are RV loans for good and bad credit available, and if you get an offer you like, you can apply directly with the lender. Rates and terms vary depending on the lender you choose, but you’ll pay a higher interest rate if you have bad credit.
Pros of finding an RV loan through a loan search platform
Compare multiple loan offers in one place
Easy online application
Platforms are free to use
Loans for good and bad credit available
What to watch out for
High interest rates if you have bad credit
Platforms are not lenders
You’re restricted to the platform’s network of lenders
2. Get RV financing through the dealer
How it works
Dealer financing lets you borrow money directly from the dealer where you buy your RV. This means you can apply in person for fast RV financing, and the dealer will handle the details of your loan from start to finish.
You may be able to borrow the full amount of your RV, camper or trailer’s purchase price, but your payments will usually be secured by your vehicle. You also get the opportunity to take advantage of special promo offers that allow you to access reduced interest rates.
Pros of getting RV financing through the dealer
Convenient and fast RV financing
The dealer can walk you through the application process
Options for good and bad credit
Take advantage of special RV financing offers
What to watch out for
Don’t feel pressured into getting dealer financing
Shop around first so you know if you’re getting a good deal
Special financing offers may only apply to specific models
3. Get an RV loan directly from a bank or credit union
How it works
Your third option for RV financing in Canada is to get an RV loan from a bank or credit union. You can usually borrow between $1,000 and $200,000 with RV loans in Canada, but you’ll need good to excellent credit to qualify. If you have strong credit, you’ll get some of the best RV loan rates on offer.
Pros of getting an RV loan directly from a bank or credit union
Competitive interest rates
Fixed or variable rates
Flexible repayment terms
Deal with a trusted lender
What to watch out for
Not an option if you have bad credit
May have a slower approval process
Your bank may want you to shop at a partner dealership
How much do RVs cost?
RVs can cost anywhere from $10,000 to $500,000 or more, depending on which type you buy. The following table outlines prices for common types of RVs:
Type of RV
Common features
Average cost
Class A
21-40 feet
Sleeps up to 6-8
Large living area
Slide-out panels
Expensive on gas
All amenities
$90,000 – $500,000+
Class B
16-22 feet
Sleeps up to 4
Smaller living area
Pop-up roof (on some)
Cheaper on gas
Limited amenities
$90,000 – $300,000+
Class C
21-35 feet
Sleeps up to 8
Large living area
Over-cab sleeping or storage space
Mid-range for gas
Most amenities
$80,000 – $300,000+
Fifth wheel
21-40 feet
Sleeps up to 8
Large living area
Detachable
Need truck or SUV to haul
Most amenities
$15,000 – $100,000+
Travel trailer
12-35 feet
Sleeps up to 6-10
Smaller living area
Detachable
Need truck or SUV to haul
Limited amenities
$10,000 – $40,000+
Truck camper
8-20 feet
Sleeps up to 6
Available as pop-ups or with hard sides
Capable of going off-road
Loaded onto the bed of a pickup truck
Can be unloaded when you just want to use your truck
$20,000 – $80,000+
Popular RV models
The amount you need to borrow when you get RV financing varies depending on the type of RV, camper or travel trailer you purchase. Check the table below for a guide on the prices of a selection of popular RVs in Canada. However, it’s worth noting that many manufacturers offer models with a variety of different sizes and floorplans, so the price for a single model can vary by thousands of dollars depending on the layout you choose.
Manufacturer
Model
Type of RV
Price
Thor Motor Coach
A.C.E. 29D
Class A motorhome
$285,041
Tiffin
Phaeton 35CH
Class A motorhome
$768,995
Winnebago
Vista 33K
Class A motorhome
$331,000
Coachmen
Beyond 22C
Class B motorhome
$289,965
Jayco
Swift 20E
Class B motorhome
$171,300
Roadtrek
Zion SRT
Class B motorhome
$219,939
Roadtrek
Chase
Class B motorhome
$223,450
Winnebago
Travato 59K
Class B motorhome
$250,978
Coachmen
Entourage 330DSC
Class C motorhome
$242,498
Tiffin
Wayfarer RW
Class C motorhome
$294,397
Winnebago
Minnie Winnie 26T
Class C motorhome
$260,359
Grand Design RV
Solitude 388MBS
Fifth wheel
$205,995
Heartland RV
Bighorn 391MFB
Fifth wheel
$215,832
Jayco
Eagle HT 25RUC
Fifth wheel
$48,750
Keystone RV
Montana 3231CK
Fifth wheel
$135,888
Airstream
Classic 33FB
Travel trailer
$304,805
Airstream
Basecamp 16X
Travel trailer
$91,967
Forest River
Wildwood 26DBUD
Travel trailer
$66,548
Forest River
Rockwood Ultra Lite 2614BS
Travel trailer
$84,635
Heartland RV
North Trail Ultra Lite 27DBH
Travel trailer
$87,700
Jayco
Jay Flight SLX 170BH – Sport Edition
Travel trailer
$15,995
Keystone RV
Cougar 25FKD
Travel trailer
$75,088
Palomino RV
Puma 26FKDS
Travel trailer
$68,950
Palomino RV
Solaire 208SS
Travel trailer
$70,575
Northern Lite
Limited Edition 8-11EXLEDB
Truck camper
$81,516
Lance
650
Truck camper
$68,801
Palomino
Real-Lite HS1803
Truck camper
$49,670
Representative example: Jeremy gets RV financing in Ontario
Jeremy, a Toronto local, wants to buy a Class B RV to tour across Canada. He shops around and settles on a 2025 Jayco Jay Flight Swift 20T, which has a ticket price of $133,900 (including taxes). Jeremy has $30,000 to give as a down payment on his new RV, but he needs to find RV financing in Ontario to cover the rest of the purchase price. His bank agrees to loan him $103,900 in RV financing with an interest rate of 5% and a term of 15 years.
This is what his loan will look like:
Total cost of RV
$133,900
Down payment
$30,000
Loan type
RV loan
Loan amount
$103,900
Interest rate (APR)
5%
Loan term
15 years
Monthly payment
$821.63
Total loan cost
$147,894.22
*The information in this example, including rates and terms, is provided as a representative transaction. The actual cost of the product may vary depending on the retailer, the product specs and other factors.
RV loan calculator Canada: How much does an RV loan cost?
You can use an RV loan calculator in Canada to find out how much you’ll have to pay for an RV loan. Access Finder’s RV financing calculator below:
RV finance calculator
Find out how much your RV financing repayments could cost.
Enter how much you want to borrow under Loan amount.
Enter in your loan term in years (not months) under the Loan terms field.
Enter in your loan’s interest rate if it doesn’t come with any fees under Interest rate. If your loan does come with fees, enter the annual percentage rate (APR), which includes interest and fees combined.
Hit Calculate.
Review your results.
Not only will our calculator show your monthly repayments, but also how much you’ll pay in interest over the life of your loan.
Current RV loan rates in Canada
It’s very difficult to determine current RV loan rates in Canada, since your rates will be based on a number of factors. These include your credit score, income and whether you can secure your loan with assets.
As a rough estimate, you can likely expect to pay between 5% and 30% interest on your RV loan. If you apply for RV financing with bad credit, you can expect RV interest rates on the higher end.
RV financing with bad credit in Canada
If you’ve got bad credit, you likely won’t qualify for RV or camper trailer financing from a bank or credit union. But you may still be eligible for dealership financing or a loan from an alternative lender.
Rather than focusing on your credit score, lenders that offer bad credit RV financing will assess your income and employment situation along with your existing debts to determine your ability to repay a loan. However, you’ll get higher RV interest rates in Canada than borrowers with good to excellent credit.
You can improve your chance of getting approved for RV financing and potentially get a better rate by doing the following:
Get a cosigner. If you get a friend or family member with excellent credit to cosign your RV loan with you, you’ll boost your chance of approval.
Secure your loan. Using your RV or other assets as collateral could help you get a lower interest rate, but you risk losing your RV or assets if you can’t keep up with repayments.
Build up your credit. Taking steps to improve your credit score will help you get a lower interest rate and potentially qualify for funding from a bank or credit union.
Can I get used RV financing in Canada?
You may be eligible for used RV financing in Canada if your RV is still relatively new. Most lenders will look at the market price of your vehicle along with its age, condition and mileage to determine if they want to lend to you. As a general rule, the RV you’re buying will typically need to be no more than 10 years old.
The age and condition of the RV helps the lender figure out its market value. Not only does this play a part in determining your loan amount, it also gives the lender an idea of how much they could sell the RV for to recoup their losses if you default on the loan.
How to compare RV financing options
Look at the following features when comparing RV financing in Canada to find the best loan for your needs:
Interest rates. RV financing rates in Canada can be fixed or variable and tend to fall between 5% and 30%. The rate you get will depend on factors like your credit score, income and debt-to-income ratio.
Fees. Some lenders charge fees that you’ll need to factor into your overall loan cost. These can include origination fees, late fees and early repayment fees. Remember to check the loan’s APR for a better idea of its total cost.
Loan amounts. The amount you need to borrow will affect which lender you choose. Banks tend to offer higher amounts, while you may only qualify for $100,000 or less with private lenders and credit unions.
Turnaround time. You should get a decision on your RV financing within a couple of hours or days with most lenders. As a rule of thumb, banks tend to take longer while private lenders and dealers will usually offer a faster turnaround.
Loan terms. Loan terms can range from one to 20 years, depending on the size of your loan. You’ll have higher monthly payments with a short-term loan, but you’ll pay less interest over time. Long-term loans have more manageable monthly payments but will increase your total interest.
Vehicle requirements. Check if the lender offers new or used RV financing in Canada. The lender may also place restrictions on the maximum age of your RV, for example, only financing vehicles less than 10 years old.
RV financing eligibility criteria
To qualify for RV financing in Canada, you will generally need to:
Be at least 18 years old or the age of majority in your province or territory
Be a Canadian citizen or a permanent resident with a valid Canadian address
Be employed and have a steady income
Meet credit score and income requirements
Required documents
To apply for an RV loan in Canada, you may need to supply the following documents and information:
Identity documents. Personal identification, such as your passport or driver’s licence.
Proof of income. Pay stubs, employment records, tax records and other documents.
Debt-to-asset ratio. Lists of assets and debts to make sure you can qualify for funding.
Credit score. Consent for your RV loan provider to run a credit check.
How to get the best deal on RV financing
Tick the following boxes to make sure you get the best deal on your RV loan:
Compare your RV financing options. Compare multiple loans and lenders to make sure you get a suitable term and the best RV interest rates in Canada.
Save a larger down payment. If you delay purchasing an RV until you’ve saved a bigger down payment, this will not only mean you can borrow less (and therefore pay less interest), but it could also increase your chance of getting approved.
Build up your credit score. Make sure you know your credit score and work to build it up before applying for RV financing in Canada.
Watch for hidden fees. Ask your lender about their fees and read your contract carefully so you know what you’re getting into.
What are the other costs of owning an RV?
You’ll need to consider much more than just the sticker price when buying an RV. Check the table below for details on the running and maintenance costs you’ll need to cover to keep your RV on the road.
Expense
What you pay for
Typical cost
Engine maintenance (for class A, B and C RVs)
Includes oil changes and other engine maintenance costs
$100 to $500 per year
Interior maintenance (for all RVs)
Can include electrical, heating, cooling and plumbing issues as well as problems with appliances
Hundreds or thousands of dollars, depending on the issue
Fuel costs
Factor an average of 12 to 30 litres per 100 kilometres into your budget
$18 to $45 per 100 km based on conservative estimates
Campground fees
Accounts for utilities hookup fees and additional space
$25 and $90 per night on average
Storage
Costs to rent a space to store your RV
Hundreds of dollars per month
Insurance
Cover for liability and property damage
$250 – $5,000 per year, depending on the type of RV
Bottom line
No matter whether you’re buying a camper, travel trailer or motorhome, there are several ways to get RV financing in Canada. Compare lenders and loans to find the best RV loan rates, and use our RV financing calculator to figure out how much your loan payments might be.
Frequently asked questions
The minimum credit score for an RV loan varies between lenders. Traditional lenders like banks and credit unions have strict eligibility criteria, so you'll generally need a good to excellent credit score of 660 or higher to qualify. But you may be able to get bad credit RV financing through a dealership or online lender.
Lenders who offer RV loans for bad credit will look at your income and employment situation when assessing your ability to make timely repayments. They may also require a larger down payment than other lenders, and bad credit loans generally come with higher interest rates.
There are multiple options available if you need camper, trailer or RV financing in Canada. You can compare loan offers through a loan search platform, apply for dealership financing or get RV or travel trailer financing directly from your bank or credit union.
Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio
Learn where to get a motorcycle loan in Canada and how to qualify for motorcycle and dirt bike financing.
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