Outdoor Hospitality News
For Campground & RV Park Owners

News for October 24, 2021

RV Financing Marketable Profit For Banks—RVIA

Share this article

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on email

The 2020 Survey of Lenders’ Experiences provides the findings of the RV Industry Association’s (RVIA) nationwide survey of financial institutions regarding their portfolios of RV loans, the RVIA reported.

The report offers a comprehensive review of key information from both retail and wholesale indirect RV lending markets. It also explains why RV loans continue to be a popular product for banks to add to their portfolios.

The study revealed that the value for RV wholesale loans in 2020 was $11.2 billion. There were 255,343 indirect retail loans to consumers from reporting institutions in the year 2020 which amounted to over $9.6 billion in dollars financed.

The median down payment for retail indirect loans to purchase RVs was 18.2 percent, with the median amount borrowed $45,869 for brand new RV purchases, and $49,036 for second-hand RV purchases.

“With the RV market continuing to grow and the dollar volume for RV lending also on the rise, the data shows that RV financing continues to be a profitable market for banks, especially when considering the delinquency rate for RV loans continues to be among the lowest of other consumer loans tracked by the American Banker Association,” the News & Insights article said.

In assessing the potential and stability of RV loans, the survey is an excellent instrument for RV industry players to use to inform financial and banking institutions about the RV loan market.

This survey focused on the top lenders within the Wholesale and Retail Indirect markets which comprise around 80 percent of all national lending activity.

Share this article

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on email
Modern Campground

Modern Campground

Modern Campground is the most innovative news source in the Outdoor Hospitality industry. We provide global news coverage for RV Park and Campground owners, operators, managers, and their team members.
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Connect on Social Media
MC Fireside Chats
Latest Outdoor Hospitality News
BCLCA Ideas Forum 2021 Was a Resounding Success
New Family-Friendly Winter Business Coming To South Lake Tahoe Campground
Solar-Powered RV Wraps Up First Journey
Business As Usual for Most Snowbirds, Despite Ongoing Pandemic
Winter Camping Season In Qatar Brings Campers Close To Nature

Stay Updated
Outdoor Hospitality News