Most RV purchases are financed with a secured loan, where the RV itself is the collateral. Terms, rates and eligibility vary by lender and by borrower, so compare several offers. This page is general information, not financial advice.
💰 Where to Look
Banks and credit unions
Many Canadian banks and credit unions offer recreational vehicle loans or secured lines of credit. Ask your own bank first — an existing relationship can help.
Dealer financing
Dealers arrange financing through partner lenders. Convenient, but compare the offer with your own bank’s terms.
Home-equity options
Some buyers use a home-equity line of credit. These carry different risks because your home is the collateral.
📘 What to Know
Before you sign
- Compare the full cost, not just the monthly payment: interest rate, term, fees and any penalty for paying the loan off early.
- Taxes. GST/HST and, in some provinces, provincial sales tax can apply to an RV purchase. Rules differ for new, used and private sales — ask for a fully taxed price.
- Check for liens on a used RV from a private seller. Each province runs a personal property registry where you can search for registered liens.
- Budget for ownership costs — insurance, storage, fuel, maintenance and campground fees.
- Consider warranties carefully: read what an extended warranty covers, what it excludes and who honours it.