Institutions like Merrick Bank give RV loans to people with bad credit. Unfortunately, it can be difficult to get an RV loan from a bank if the buyer has a low credit score or a history of delinquencies.
Rather than applying at banks, consumers should check out credit unions or lenders who specialize in working with high-risk clients. Some dealers also offer credit to buyers with bad credit. Generally, in exchange for a high-risk loan, the borrower should expect to pay a relatively high interest rate. The best way to avoid a high interest rate is to borrow money from one's family or get a co-signer. With a co-signer, it is typically easier to convince a bank to grant the loan.