RV Loans and Refinancing

A secured RV loan uses your RV as collateral. Staying current on payments helps you maintain ownership of your collateral. An unsecured RV loan does not have collateral. Because of that, it may have a higher interest rate compared to a secured RV loan.

Both secured and unsecured loans generally provide simple applications, quick approvals, and funding as soon as today.^{Disclosure 2, Disclosure 3}

For secured RV loans, there is no set credit score requirement, although higher credit scores are generally viewed more favorably and can result in lower interest rates. Other factors are also considered when you apply for a loan, including but not limited to your income, debt-to-income ratio, and any down payment you plan to make.

The LightStream unsecured loan requires good-to-excellent credit profiles.

Here are some characteristics we find people with good-to-excellent credit share:

• Credit history: Several years of credit history (excellent credit profiles have 5 or more years) with a variety of account types, including major credit cards, installment loans, vehicle loans, and mortgage debt, if applicable.

• Assets: The ability to save money, shown by retirement or investment accounts, as well as liquid assets such as checking and savings accounts.
• Income vs debt: Stable income and assets with the ability to repay current debt obligations in addition to the new LightStream unsecured loan. (Excellent credit profiles typically include little, if any, credit card debt.)

• Payment history: A good-to-excellent payment history with few or no late payments, and no other problems repaying debt.


Everyone’s credit profile is unique, and during our approval process, we look beyond your credit score and examine your entire credit profile. Please note: A high FICO® score doesn’t guarantee approval.

Note for joint applicants: Each party on an application is reviewed equally since they share responsibility for this loan.

Refinancing your RV loan can be a great way to take advantage of lower interest rates and decrease your monthly payments.

Depending on your location, we offer two different options for RV refinance: the Truist secured RV loan and the LightStream unsecured RV loan.

Some things to know about each:

• If you have an existing Truist secured RV loan, you’ll need to make six (6) contractual payments before you can refinance.
• LightStream unsecured RV loan proceeds cannot be used to refinance an existing LightStream loan or be used for cash out refinance purposes.

Keep in mind that the RV title must be in your name, and you’ll need a copy of your current registration before you can refinance your existing loan. A Truist teammate can help you explore the best option for your situation.

With a secured refinance loan, Truist will mail your payoff amount to your previous lender, and you’ll begin making payments to Truist under the terms of the new loan.

With an unsecured refinance^{Disclosure 1} loan, you’ll use funds from your new Truist loan to pay off the remaining balance on your existing RV loan. You’ll then make monthly payments to Truist under the terms of the new loan.