Annually, the RV Industry Association (RVIA) conducts a nationwide survey of financial institutions concerning their RV lending portfolios. Together these lenders constitute approximately 80% of RV lending activity in the United States. The Survey of Lenders’ Experiences 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.
The latest survey 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.
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.
RVIA members can view the full study here.
Purchase a copy (available for sale to non-members) here.
