Frequently Asked Questions – RV Loans
If your loan questions are not answered below, please contact one of our local offices or representatives.
What types of RVs can I finance?
We offer financing options for: Class A, B, C Motorhomes, 5th Wheels, Travel Trailers, and Horse Trailers with living quarters. We do not offer financing for: Park Models, Tiny Homes, “Toter” style motorhomes, Horse Trailers without living quarters, Truck Campers, Pop-up trailers or Rental Units.
What is the oldest RV you can finance?
We can finance RVs up to 15 model years old
Is there a minimum credit score requirement?
Yes, our minimum credit score is 660.
Are loans available for people residing in all 50 states?
We offer RV loans in 48 states (excluding Alaska, Hawaii, & Washington, DC).
What are the largest and smallest RV loan amounts available?
The minimum loan amount considered for financing is $25,000. The maximum loan amount is $2,000,000. Call our office for credit requests greater than $2,000,000.
What are the shortest and longest terms available?
We offer a variety of terms ranging from 5 – 20 years depending on the loan amount.
How much of a down payment will I need?
Typically, 10% to 30% is standard depending on the size of the transaction.
Is financing available for Full-Timers?
No, we do not currently provide financing for Full-Timers (RV used as a primary dwelling)
Can I finance my RV if I am Non-US Citizen?
Yes, we do have some options for non-US Citizens. Additional documentation and restrictions may apply.
Can I get preapproved for my loan?
Yes, initial loan approval commitments can be valid for 30 to 180 days from the date of pre-approval.
Is financing available for both purchase & refinance transactions.
Yes, financing can be obtained for either a purchase or refinance transaction
Are refinance rates the same as RV purchase rates?
Refinance rates may vary from that of purchase rates.
Does Trident Funding work with both new RV dealers and used RV brokers?
Yes, we work with dealers and brokers across the U.S.
How do I apply?
Fill out and submit our secure online application or download our pdf application and then fax, mail, or email it to your nearest Trident Funding office or sales representative.
How long does it take to get a credit decision?
Usually, we have a decision in 24-48 hours, often less.
How long is my loan approval good for?
Approval commitments are generally valid for 30 to 180 days (varies by lender) and rate commitments typically range from 30 to 60 days.
Is there an application fee?
No, we do not charge an application fee.
Are there closing costs or other fees?
Yes, a loan processing fee will apply. Please contact one of our Sales Representatives for more detailed information.
Can I finance any taxes, title, registration and/or processing fees?
Yes, taxes, title, registration (official government fees) and/or loan processing fees may be included in your loan amount, (subject to lender approval). You may also choose to pay for all fees out of pocket; in which case, payment must be received prior to funding your loan.
Do you offer stated income loans?
Yes, up to $150,000. However, we reserve the right to require income verification on any application.
What other documentation will I need to provide prior to closing my loan?
For a purchase transaction, you will be asked to provide:
- Copy of your current driver’s license – clear & legible
- Copy of purchase agreement
- Copy of current title and/or registration
- Proof of Deposit (if applicable)
For a refinance transaction, you will be asked to provide:
- Copy of your current driver’s license
- Copy of your current registration
When is a RV inspection required?
Inspections may be required, if your request for credit is approved. This will be communicated by the Sales Representative.
How do I get an RV inspection completed?
Trident Funding will arrange for an independent 3rd party vendor to contact you and set a date and time to complete the inspection.
If I am approved, how long will it take to fund my loan?
Funding times will vary depending on several factors, but generally funding can occur within 3 to 7 business days from the date of approval.
Is there a pre-payment penalty?
Most loans do not have a prepayment penalty, but if a prepayment penalty does apply, it will be communicated at the time of credit approval.
Can I defer my first payment?
Yes, you may defer your first payment up to 45 days on purchase transactions.
How long does it take to obtain my plates and registration?
Each state varies in length of time that it may take to process the title work. The standard time to receive your plates and registration is 6 to 8 weeks after your loan funds; however, your experience may vary.
What documents are needed to transfer ownership into my name?
Documents required to transfer ownership into your name vary from state to state and may also depend on the type of transaction. You will be provided with a checklist indicating what title documents are needed when you receive your loan package. It is very important to deliver all the documents requested within 5 business days of your loan funding.
Do I have to send my title to Trident Funding if I live in an “owner held” state?
Yes, the title is needed to secure our lien and update your registration with the new lienholder information.
Can I transfer my personalized plates?
Yes, personalized plates can be transferred to your new unit if it is the same type of RV. For example, a travel trailer plate cannot be transferred to a motorhome. Remember to inform your Sales Representative of your plans prior to your loan closing.
What happens if I am traveling/out of town and unable to provide supporting documents needed to title and register?
If you are unable to provide the required documentation within 5 business days of funding your loan, you may incur additional fees including state penalties.
Does my registration have to be current?
Yes, your registration must be current to update it with the new lienholder information. If your registration is due within 30 days of completing your loan application, please let your Sales Representative know.
What is a VIN verification and will I need to get one?
A VIN (Vehicle Identification Number) Verification is a procedure in which a licensed automobile dealer, police officer or other government official verifies that a unit’s vehicle identification number matches the unit’s paperwork. A VIN verification is required in some states for an RV that has never been titled or registered in that state. Your Sales Representative will let you know if this will be required for your loan.
Who will be handling the titling and registration of my RV?
In most cases, it is necessary for us to use an independent 3rd party vendor to complete the titling and registration. Where required by law, for Dealer purchase transactions, the dealer is responsible for completing title and registration. In certain purchase and refinance transactions, the borrower may be required to complete title and registration.
Are RV loans tax deductible?
For a qualifying RV, interest on the loan can be tax deductible, but you should consult with your tax professional to be certain.
Can I own my RV in a LLC or Trust?
In most cases it can be owned in a Trust or LLC – check with your attorney and tax advisor for more detail.