How to Finance RV Repairs: Travel Trailers, Motorhomes and Fifth Wheels

You can minimize the sticker-shock of major RV repairs by purchasing an extended warranty, and insurance will cover some repairs if it’s part of your policy. But what will you do if it’s a non-covered major repair and you don’t have the cash on hand?

You can price-shop, consider fixing some things yourself, but some repairs will simply have to be done by a professional—and most RV shops require payment in full at the time of service. Will a major repair bring your RVing adventure to a screeching halt? It doesn’t have to.

Creative financing for RV repairs

Home equity loans: Some financial institutions allow the use of home equity to back personal loans for RV repairs. The cost of borrowing on these loans might be less than other options.

Charge it on a credit card: Especially if you are stranded on the road and need immediate service, this might be a good way to handle repairs. You can pay off the balance later using another method—a good idea, because the interest rate is likely higher than other options.

Get a family loan: If someone in your family is willing to give you a short-term loan, this can be a great option. Potentially disappointing your mom might provide just the motivation you need to make sure the loan gets paid back.

Signature loan: If your credit is good and you have a great relationship with your banker, you might be allowed to take out a short-term unsecured loan to pay off repairs.

Consolidation loan: Your bank might allow you to roll the repair into a consolidation loan along with other credit accounts. The interest rate might be higher, but the convenience might be worth it.

Trade in: If you have equity in your rig, you might be able to trade in the RV and make paying off the repair loan part of the deal. This depends solely on the dealer you are working with.

Don’t give up! There are many options out there to cover the cost of your repairs. Don’t let one major repair bill keep you from continuing your pursuit of the Great American RV Dream!