RV financing in Canada

Compare RV financing in Canada to find the best fit for your lifestyle and budget.

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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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My Auto Approval Powersport/RV Loan
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0% - 35.00%
$5,000 - $75,000
3 - 60 months
Requirements: Min. income of $1,800 /month, 3+ months employed
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RBC Powersport Vehicle Loan
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$7,500 - No max.
1 – 20 years
Requirements: Canadian resident, of the age of majority in your province, with a steady source of income, good to excellent credit.
Access a range of loans for cars & trucks, RVs, boats and business vehicles.
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LendCare Powersport Vehicle Loan
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Up to 180 months
Requirements: Steady income, employed
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National Powersports Financing logo
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National Powersports Financing
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Where can I get RV financing in Canada?

There are three main ways to get motorhome and camper trailer financing in Canada:

  1. Find an RV loan through a loan search platform
  2. Get RV financing through the dealer
  3. Get an RV loan directly from a bank or credit union

1. Find an RV loan through a loan search platform

How it works

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 RVCommon featuresAverage 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+

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.

ManufacturerModelType of RVPrice
Thor Motor CoachA.C.E. 29DClass A motorhome$285,041
TiffinPhaeton 35CHClass A motorhome$768,995
WinnebagoVista 33KClass A motorhome$331,000
CoachmenBeyond 22CClass B motorhome$289,965
JaycoSwift 20EClass B motorhome$171,300
RoadtrekZion SRTClass B motorhome$219,939
RoadtrekChaseClass B motorhome$223,450
WinnebagoTravato 59KClass B motorhome$250,978
CoachmenEntourage 330DSCClass C motorhome$242,498
TiffinWayfarer RWClass C motorhome$294,397
WinnebagoMinnie Winnie 26TClass C motorhome$260,359
Grand Design RVSolitude 388MBSFifth wheel$205,995
Heartland RVBighorn 391MFBFifth wheel$215,832
JaycoEagle HT 25RUCFifth wheel$48,750
Keystone RVMontana 3231CKFifth wheel$135,888
AirstreamClassic 33FBTravel trailer$304,805
AirstreamBasecamp 16XTravel trailer$91,967
Forest RiverWildwood 26DBUDTravel trailer$66,548
Forest RiverRockwood Ultra Lite 2614BSTravel trailer$84,635
Heartland RVNorth Trail Ultra Lite 27DBHTravel trailer$87,700
JaycoJay Flight SLX 170BH – Sport EditionTravel trailer$15,995
Keystone RVCougar 25FKDTravel trailer$75,088
Palomino RVPuma 26FKDSTravel trailer$68,950
Palomino RVSolaire 208SSTravel trailer$70,575
Northern LiteLimited Edition 8-11EXLEDBTruck camper$81,516
Lance650Truck camper$68,801
PalominoReal-Lite HS1803Truck 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 typeRV loan
Loan amount$103,900
Interest rate (APR)5%
Loan term15 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.
Your loan
Loan amount
$
Loan terms (in years)
Interest rate
%
Calculate

Fill out the form and click on “Calculate” to see your estimated monthly payment.

or

Compare RV loans now
You can expect to pay back $ per month
Based on your loan terms
Principal $
Interest $
Total Cost $

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:

  1. 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.
  2. 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.
  3. 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.

ExpenseWhat you pay forTypical 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 appliancesHundreds or thousands of dollars, depending on the issue
Fuel costsFactor an average of 12 to 30 litres per 100 kilometres into your budget$18 to $45 per 100 km based on conservative estimates
Campground feesAccounts for utilities hookup fees and additional space$25 and $90 per night on average
StorageCosts to rent a space to store your RVHundreds of dollars per month
InsuranceCover 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

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To make sure you get accurate and helpful information, this guide has been edited by Leanne Escobal as part of our fact-checking process.
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Tim Falk is a freelance writer for Finder. Over the course of his 20-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

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