Vehicle Financing Options
Know your loan choices before you buy. Use the tools on this page to guess your payments. Put in the price, down payment, term, and rate. See how each change shifts your cost.
Searchshop has loans for RVs, boats, bikes, ATVs, cars, trucks, and sleds. Rates and terms vary by type, age, and credit. Many dealers offer their own loans or work with lenders.
Use this tool to set a budget before you visit a dealer. A clear price range helps you focus your search. It also puts you in a stronger spot to talk price. Check each listing page for dealer loan offers too.
Loan terms vary significantly by vehicle type. Auto loans typically run 24 to 72 months with rates tied closely to your credit score and the age of the vehicle. RV and boat loans are classified differently by lenders — often as personal property loans — and can extend up to 180 months on higher-value units. A longer term reduces your monthly payment but increases the total interest paid over the life of the loan. The calculator on this page lets you compare multiple scenarios side by side before you commit.
Your credit score is the single biggest factor lenders use to determine your interest rate. Scores above 720 typically qualify for the best available rates. Buyers with scores between 620 and 720 will generally qualify but at higher rates. Some dealers and specialty lenders work with buyers below 620 through programs that require a larger down payment or shorter loan term. Knowing your score before you shop prevents surprises at the dealership.
Getting pre-approved by your bank or credit union before visiting a dealer gives you a significant advantage. Pre-approval tells you exactly what you can borrow and at what rate, so you walk in with a concrete number. Many dealers will try to match or beat a pre-approved rate to earn your financing business. This competition works in your favor and can save hundreds or thousands over the life of the loan.
Down payment size affects both your monthly payment and your total interest paid, but it also affects your loan approval odds. For recreational vehicles like RVs and boats, lenders typically prefer 10 to 20 percent down. A larger down payment reduces the lender's risk and often unlocks better rates. If you are trading in a vehicle, the trade-in value counts toward your down payment — factor that in when using the calculator above.
Gap insurance is worth considering on financed vehicles, particularly for new units with rapid early depreciation. If a vehicle is totaled or stolen, gap coverage pays the difference between what your standard insurance reimburses and what you still owe on the loan. This protection is especially relevant for new RVs and boats, which can lose 15 to 25 percent of their value as soon as they leave the dealership. Ask your lender or dealer whether gap coverage is included or available to add.
For buyers considering a used vehicle, specialty lenders often have different requirements than standard auto lenders. Used vehicle age, mileage, and condition all factor into loan approval. Some lenders set a maximum age or mileage cap. Knowing these limits in advance helps you target your search to vehicles that are financeable through your preferred lender. Dealers who work with multiple lenders can often find a solution for older or higher-mileage units that standard lenders decline.
