Getting the chance to buy a recreational vehicle can seem like a dream come true, but that doesn’t mean your purchase should be taken lightly. After all, recreational vehicles (RVs) can cost tens of thousands of dollars, and the top models can easily top $100,000 or more. Not only that, but the type of RV you should get (5th wheel or Class A) varies from person to person, and so does the best financing option for your needs.

As you search for the right RV, you’ll also want to explore RV loans and how they compare across different RV loan companies. This review of SeaDream RV Loans promises to explain what you can expect from this lender, the types of loans they offer, and how they stack up to the competition.

   

SeaDream RV Loans: At a Glance

SeaDream RV loans / GreatRVLoan.com logo

SeaDream RV Loans works in conjunction with GreatRVLoan.com, and both offer boat loans and RV loans with competitive terms. Founded in 2002, this company has an A+ rating with the Better Business Bureau (BBB), where they have been accredited since 2015. 

In terms of its RV loans, this company offers loans for new and used RVs that last for up to 20 years, and they even extend options to borrowers with bad credit. You can also apply for a loan or get pre-qualified for financing online through their loan web-based loan portal. 

Pros:

  • Repay your loan over a flexible timeline
  • Finance a new or a used RV
  • Low rates for those with excellent credit
  • Bad credit loans available
  • No prepayment penalties

Cons:

  • Longer term loans only available for RV loans over $100,000
  • A hard inquiry is required to get pre-qualified online

Who SeaDream RV Loans is Best For

Because SeaDream RV Loans offers exceptionally low rates for those with good credit, this lender is best for borrowers who have credit scores in the good, very good, or excellent range, which typically entails a FICO score of 670 or higher. And since RV loans from this provider offer lower rates for larger loan amounts, this lender may also be a good option for RV enthusiasts who need to borrow $100,000 or more. 

Pros Explained

  • Repay your loan over a flexible timeline: RV Loans from SeaDream can be repaid over 60 to 240 months. This type of flexibility can help you work out a monthly payment that makes sense for your needs and your budget. 
  • Finance a new or a used RV: You can use SeaDream to finance a new or a used RV from a private party or a dealership.
  • Low rates for those with excellent credit: Rates as low as 3.99% are offered depending on your loan amount and your repayment timeline.
  • Bad credit loans available: You may be able to qualify for an RV loan if your credit score is as low as 550, although you need to put 10% down and you have to buy a model that is 15-years-old or newer if you have bad credit. 
  • No prepayment penalties: You can pay your loan off early if you prefer, and you won’t face any additional charges for doing so. 

Cons Explained

  • Longer term loans only available for RV loans over $100,000: According to SeaDream RV Loans, you can only repay your loan over 20 years if you borrow $100,000 or more. 
  • A hard inquiry is required to get pre-qualified online: Where some online lenders let you get pre-qualified for their loan products without a hard inquiry on your credit report, SeaDream RV Loans doesn’t offer this option.

SeaDream RV Loans: The Details

Before you apply for an RV loan from this provider, it helps to know more about their loan products and who can qualify. The following chart outlines the most important details you should consider with SeaDream RV Loans.

Company NameSeaDream RV Loans
Loan Terms60 to 240 months, depending on loan amount
Loan amount$10,000 to $2 million or more
Interest Rates3.99% to 17.95%
RV Types New or used models
Purchase TypeDealership or private purchase
Minimum Credit Score550 
 

Customer Service Experience

SeaDream RV Loans offers customer service options via email or the telephone. If you choose to call into customer service, their hours of operation are Monday through Friday from 9 a.m. to 5 p.m. PST. 

While there aren’t a ton of user reviews for SeaDream online, this company does have an average of 4.43 out of 5 stars among their ratings with the BBB. Some of their user testimonials boast about excellent customer service and responsiveness to customer inquiries. 

How to Apply

If you want to apply for a loan with SeaDream RV Loans, you’ll need to gather some information ahead of time. Details you’ll need to know before you apply include:

  • The type of loan you need (private party, broker purchase, or refinance)
  • Year and model of the RV
  • RV length
  • Manufacturer
  • Fuel type 
  • Horsepower

You’ll also need to be prepared to share information about yourself and your finances, including your name and address, income information, Social Security number, date of birth and more.

You can fill out a loan application with SeaDream RV Loans online, and it’s possible to hear about the status of your loan within a few business days. 

RV Loan Comparison 

Company NameSeaDream RV LoansLightStreamAlliant Credit Union
Loan Terms60 to 240 months, depending on loan amountUp to 84 months120 to 240 months
Loan amount$10,000 to $2 million or more$5,000 to $100,000Up to $300,000
Interest Rates3.99% to 17.95%4.29% to 11.89% with autopay4.24% to 5.24%
RV Types New or used modelsNew or used modelsNew or used models
Purchase TypeDealership or private purchaseDealership or private purchaseDealership or private purchase
Minimum Credit Score550 Not disclosedNot disclosed
 

As you shop around for an RV loan, you’ll find out there are many reputable companies offering financing in this space. Some have longer available repayment timelines and higher (or lower) loan amounts, and a handful of lenders offer more borrowing options for those with imperfect credit. 

Because of its loan offerings, SeaDream RV Loans can be a good option for borrowers who need to borrow over $100,000. Not only do its loans come with lower starting interest rates at that point, but larger loan amounts qualify for longer repayment periods. 

SeaDream RV Loans can also be an option for consumers with bad credit, or credit scores as low as 550. LightStream doesn’t disclose a minimum credit score, and their rates seem to suggest they don’t offer loans for bad credit. The same is true for Alliant Credit Union.

The Bottom Line

If you’re hoping to find your dream RV, you should also strive to find the best financing option for your needs and your budget. After all, you’ll want to pay the lowest interest rate you possibly can, but you’ll also want to wind up with a monthly payment you can easily afford.

At the end of the day, the right RV can help you see the world on your own terms. However, the right RV loan can make your dream much more affordable.