Shopping for a camper can be exciting, but concerns about credit scores and hefty down payments may hold you back. Buy here, pay here (BHPH) camper programs may offer a solution by allowing dealerships to approve and service loans in-house. This approach can often provide more flexible credit requirements and lower initial costs, making it an attractive option for many buyers.
What Is Buy Here, Pay Here for Campers?
In traditional RV financing, a bank or credit union reviews and funds your loan application, and you make monthly payments to them. In a BHPH arrangement, however, the dealer acts as both the seller and the lender. This means you purchase and make payments directly to the dealership, sometimes online or in person. Since dealers carry the financial risk, they may set more flexible approval criteria, potentially accommodating those with thin or bruised credit files.
While BHPH options can result in faster approvals and lower up-front cash requirements, expect higher interest rates and shorter loan terms compared to prime RV loans. It is essential to understand that BHPH dealers typically offer older, used travel trailers, fifth-wheels, or motorhomes, with late-model units being limited. Therefore, inspections and test drives are critical to ensure the vehicle's condition.
Comparing Buy Here, Pay Here to Other Camper Financing Options
Understanding how BHPH financing stacks up against other camper financing methods can help you make an informed decision. Here are some key comparisons:
1) Bank or Credit Union RV Loans
These loans may offer the lowest annual percentage rates (APRs) and longest terms, sometimes extending from 60 to 180 months for qualified buyers. They may also allow larger loan amounts on newer rigs. Some credit unions consider members with fair credit and offer pre-qualification without a hard credit check.
- **Pros:** Lower total cost of ownership, longer terms, broad eligibility.
- **Cons:** Stricter underwriting, larger down payments, longer time to fund.
You can explore options through
Navy Federal Credit Union and the
NCUA Credit Union Locator.
2) Dealer-Arranged Financing (Not BHPH)
Large RV dealers often submit your application to a network of lenders, presenting you with approved offers. Although not BHPH, this approach can be convenient if you wish to shop multiple lenders quickly.
- **Pros:** Single application, multiple lender decisions, potential promotional rates.
- **Cons:** Possible APR markups, pressure to add on unnecessary products.
Consider options like
Camping World Financing and
Good Sam Finance Center.
3) Specialized RV Loan Brokers and Online Lenders
These providers connect you with banks and credit unions that focus on RVs, sometimes offering options for those with fair or challenged credit. They typically do not offer BHPH but can serve as accessible alternatives.
Examples include
My Financing USA,
Southeast Financial, and
LightStream RV Loans.
4) Personal Loans and Credit Cards
Unsecured personal loans may fund quickly but often carry higher APRs and shorter terms than secured RV loans. Credit cards are usually best for accessories or small repairs due to their high interest rates.
Pros and Cons of Buy Here, Pay Here Campers
Before opting for BHPH camper financing, it’s crucial to weigh its advantages and disadvantages.
- **Faster Approvals:** Decisions can occur the same day, allowing you to secure a camper before peak-season demand rises.
- **Lower Up-Front Cash:** Smaller down payments and fewer fees reduce the initial cost. Some dealers might offer no-money-down promotions on select units.
- **Credit Flexibility:** Dealers may approve applicants with limited credit history or past credit issues.
- **Simplified Paperwork:** BHPH offers a one-stop shop for unit selection, financing, and titling.
However, consider these drawbacks:
- **Higher APRs:** Expect significantly higher interest rates than prime RV loans, increasing the total cost.
- **Shorter Terms:** Monthly payments are often higher because repayment periods are shorter.
- **Limited Selection:** Older or higher-mileage campers dominate inventories.
- **Potential Tracking Devices:** Some BHPH dealers install GPS or starter-interrupt devices; ask for written disclosures.
When BHPH Makes Sense (and When It Doesn’t)
BHPH may be suitable if you need a camper quickly for seasonal work, travel nursing, or family trips, have limited savings for a down payment, or if your credit is still recovering. However, if you qualify for a substantially lower bank or credit union APR, can wait a few weeks to fund, or are shopping for newer, higher-priced rigs, other financing options may be more cost-effective.
Choosing the Right Financing Option
Selecting the best financing option requires careful consideration of several factors:
1) Know Your Credit and Budget
Check your credit reports for free at
Annual Credit Report. Estimate an affordable payment using tools like the
Bankrate RV Loan Calculator. Aim to keep your total RV payment (loan + insurance + storage) under 10–15% of your take-home pay.
2) Compare Total Cost, Not Just the Payment
Ask for the APR, term, amount financed, and all fees. For example, on an $18,000 used travel trailer over 60 months, a 10% APR costs about $4,900 in interest, whereas a 22% APR (a common BHPH rate) jumps the interest to roughly $11,300.
3) Inspect the Camper Thoroughly
Older rigs can hide expensive issues. Check for soft spots, roof leaks, delamination, tire age, and appliance function. An independent inspection before signing can prevent costly surprises.
4) Scrutinize the Contract
Determine if there’s a prepayment penalty, if you can refinance later, and if the dealer reports to major credit bureaus. On-time payments could help improve your credit score. Are there GPS or starter-interrupt devices? What are the policies on late payments and repossession? Verify required insurance levels and get quotes from providers like
Progressive RV Insurance.
5) Cross-Shop Alternatives in Parallel
Even if BHPH seems appealing, submit applications to a credit union and a specialized RV lender on the same day. This approach lets you confirm whether BHPH is the best path or if a cheaper option is available.
How BHPH Can Speed Delivery and Cut Up-Front Costs
Because BHPH approvals are in-house, you might go from test drive to keys in just a few hours. Dealers can also roll taxes, title, and add-ons into the note, reducing your initial cash outlay. This convenience is valuable during peak buying months when the ideal floorplan might sell quickly.
Case Study: Maria's Experience with BHPH
Maria, a travel nurse with a fair credit score (620 FICO), chose a 2014 bunkhouse trailer priced at $16,500. Her BHPH dealer approved her the same day at 21.9% for 48 months with $1,000 down, resulting in about a $470 monthly payment. Later, a local credit union pre-approved her at 14.5% over 60 months with $2,500 down, reducing the monthly payment to about $380. She initially took the BHPH option to start a contract job on time and refinanced with the credit union six months later after on-time payments lowered her rate.
Available Buy Here, Pay Here Camper Options and Alternatives
Availability of true BHPH RV programs is highly local and subject to change. Always verify current terms, inventory, and licensing, and check dealer reviews with the Better Business Bureau.
Buy Here, Pay Here RV Dealers (Examples)
- **RV Depot (Cleburne, TX):** Offers in-house financing on a range of used travel trailers, fifth-wheels, and motorhomes, with credit-flexible programs advertised.
For more options, search “buy here pay here RV” or “in-house RV financing” plus your city on marketplaces like RV Trader and local maps results. Confirm they truly carry the note and not just arrange third-party financing.
Alternative Financing Providers for Campers
- **Camping World Financing:** Offers dealer-arranged financing through partner lenders nationwide.
- **Good Sam Finance Center:** Provides RV-focused financing programs that may accommodate wider credit bands.
- **My Financing USA:** Connects buyers to multiple RV lenders, including options for fair credit.
- **Southeast Financial:** National RV loan specialist.
- **LightStream RV Loans:** Offers unsecured loans for qualified borrowers with fast funding.
- **Navy Federal Credit Union:** Provides competitive rates for eligible members with longer terms on newer rigs.
Smart Shopping Checklist
- Obtain at least two written offers (BHPH and non-BHPH) on the same day to compare APR, term, and total interest.
- Bring proof of income, residence, and insurance to speed approval.
- Inquire whether on-time payments are reported to credit bureaus and prefer dealers that report.
- Budget for taxes, registration, insurance, storage, and maintenance.
- Have a mechanic or inspector review any used camper before signing.
For additional guidance, consider resources from the CFPB on
auto financing shopping tips and the FTC on
buying a used vehicle.
Bottom Line
Buy here, pay here camper financing can help you hit the road sooner with lower upfront costs, but this convenience comes with a trade-off of higher APRs and potentially older inventory. By comparing total costs, conducting thorough inspections, and securing alternative quotes, you can make a confident decision—and potentially plan to refinance later if a better rate becomes available.