How is an RV loan interest rate different from a car loan interest rate?

On average, an RV loan has a higher interest rate than a conventional car loan and the terms are much longer. S&P Global states that the average RV loan's interest rate is 6.17% APR for a new RV purchase and a 36-month loan term, and 6.15% APR for a 60-month loan on a new RV. There are many factors that determine your rate including your credit score and the make and model of your recreational vehicle. At Alliant Credit Union, we offer competitive RV loan rates.