How to Finance a Pop-Up Camper
The pop-up camper is classified as a recreational vehicle and financing is available. Financing a pop up requires excellent credit and approval from a lender. The process is simple, but the approval is dependent on the lender standards and decision. Financing a full-size RV or trailer is more common but pop-up campers do carry a high price tag and financing is a viable option. The interest rate is higher than a typical mortgage, but usually lower than a credit card.
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Instructions
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Locate the pop-up camper you want to purchase. Write down the make, model, year condition and as many details as possible. Determine the price of the camper and research the value, before committing to purchase.
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2
Locate a lender with a reasonable interest rate for RV and personal loans. Your local bank is an option and national RV lenders are available. Look for an interest rate at less than 8-percent with something closer to 5-percent being ideal.
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Research the requirements provided by the lender. RV lenders often require a minimum amount for the loan with stipulations regarding the year and condition of the vehicle. Call the lender if you find any points of concern in their requirements. They may be willing to work with you on different aspects of the loan.
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4
Fill out the paperwork for the loan and pay the processing fee, if required. Wait until the lender responds with approval or denial.
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Purchase the camper and make the monthly payments to fulfill the lender obligations.
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Tips & Warnings
Take your time and shop for the best lender. Find a lender that is transparent and communicates all of the terms of the loan.
Do not finance a pop-up camper if the price and payments are outside your means. The value of a camper depreciates quickly and you will not experience a return on the investment.
References
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