240-Month RV Financing (20-Year Terms)

Luxury Living for a Low Monthly Payment.

One of the biggest advantages of buying an RV over a standard vehicle is the financing structure. Because RVs are durable, long-term assets (often with bathrooms, kitchens, and bedrooms), Canadian lenders view them more like vacation homes than cars. This allows us to secure amortization terms up to 240 Months (20 Years).

By spreading the principal balance over a longer period, you can drive a luxury Motorhome or Fifth Wheel for a monthly payment comparable to a standard pickup truck.

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RV interested in:

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How 240-Month Loans Work

1. The "Open Loan" Advantage The biggest myth about 20-year financing is that you are "locked in" for two decades. This is rarely the case. The vast majority of our long-term loans are Open Loans.

Flexibility: You get the safety of a low required monthly payment (great for months when cash flow is tight).
Freedom: You can put extra money against the principal or pay the entire loan off early without any penalties.

2. Eligibility Requirements Not every RV qualifies for a 20-year term. Lenders generally require:

Loan Amount: Typically, the amount financed must be over $50,000 (though some lenders start at $25,000 or $40,000).
Age of Unit: The RV usually must be less than 10 years old. Older units may be limited to 60-180 month terms.
Credit History: These are "Prime" lending terms. If you have credit challenges, check our [Bad Credit Financing] options.

3. Handling Negative Equity The 240-month term is a powerful tool for trading in an RV where you owe more than it is worth. By using a longer term, we can absorb the "negative equity" from your trade into the new loan while keeping the payments manageable. Learn more about Refinancing Negative Equity.

Protecting a Long-Term Asset

If you plan to finance an RV over 10 to 20 years, unplanned repair bills can be devastating to your budget. It is highly recommended to pair long-term financing with an Extended Warranty to ensure your repair costs don't outlast your loan term.

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Learn about our Protection Plans and Extended Warranty Offerings.