The latest Survey of Lenders’ Experiences by the RV Industry Association (RVIA) found that the dollar volume of RV wholesale loans was over $15.5 billion in 2024. Meanwhile, there were over 200,000 retail indirect loans to consumers by reporting institutions in 2024, totaling more than $11.5 billion in dollars funded. The average down payment on retail indirect loans for RV purchases was just above 18.5%. The average amount financed was $61,891 for new RV purchases and $56,313 for used RV purchases.
The annual Survey of Lenders’ Experiences details the results of the RV Industry Association’s nationwide survey of financial institutions concerning their RV lending portfolios. Together these lenders constitute approximately 80% of RV lending activity in the United States, according to the RV Industry Association’s News & Insights.
The report provides an in-depth look at key data from both the wholesale and retail indirect RV lending markets and illustrates why RV loans continue to be an attractive product for financial institutions to include in their portfolios.
Faced with stubborn inflation, slowly falling interest rates and the rightsizing of retail inventory, the RV industry managed to rebound slightly in 2024, with 333,733 wholesale shipments with a retail value of $20 billion. The long-term outlook for the RV market continues to be favorable, with interest in the outdoors and RVing rising over the last few years. Meanwhile, RV owners are becoming younger with a median age of 49 years old, more diverse and with more young families and first-time owners than ever before. RVers are enjoying the health benefits of recreating in nature.
By documenting the stability and potential profitability of RV loans, this survey continues to be a helpful tool for RV industry members to use in educating banks and financial institutions about the RV lending market. Members can view the study below and copies are available for sale to non-members in the RV Industry Association store.
