USAA Bank Capping RV Loans

[Fsalmy]

While getting an insurance quote on our on-order Solitude, out of curiosity I asked to speak to an USAA banking rep to check RV loan terms and rates. I was told that, due to the pandemic and the incredible upsurge in RV purchases, they have had to cap loan amounts at $35,000. Advertised interest rates are a minimum of 5.24% which seems high. I didn't ask anything further. According to the bank rep, this is the first time in USAA's history they have had to put a loan cap on any loan product. Crazy times.

 

[Second Chance]

USAA has never written RV loads for full-timers, either. We've gone through Bank of the West (via Essex Credit) both times.

Rob

 

[AZMike]

The best deal I found was from US Bank, 4.99% for 180 months.

 

[jkwilson]

Probably a good precaution. The potential exists for people to be out of work and upside down on an RV loan. Nobody wins if that happens.

 

[Tgunter5]

For comparison, we are financed thru bank of the west at a rate of 5.99. Not happy about that rate but it is what it is :-(