Good Sam RV Loan Reviews (Benefits & Drawbacks)

Good Sam Rv Loan Reviews

Reading Good Sam RV loan reviews lets you determine if this company can realize your dream of owning a recreational vehicle. A trusted name in the motorhome market, Good Sam sounds like an excellent choice for cash-strapped would-be RV owners.

Although we can tell you outright that Good Sam is an excellent choice for an RV loan, you might want to read this article before calling them up to secure RV financing.

Overview About Good Sam RV Loan


Financing a recreational vehicle can be a hit or miss, especially with so many options. However, Good Sam stands out because of its unique philosophy and equally “interesting” services.

1. About Good Sam


Established in 1966, with headquarters in Englewood, Colorado, Good Sam started as a small club of RV owners. With founder Art Rouse at the helm, the organization grew to more than two million members.

Today, Good Sam continues to champion the needs of its growing RV owner-members, offering one-of-a-kind camper-related services and exclusive benefits.

2. How Good Sam RV Loans Work


Good Sam RV loans work like any other RV financing program. However, according to a Forest River member, Good Sam channels the loan application to the Essex Bank of The West, implying the organization only “facilitates” the financing.

Good Sam uses its RV loan calculator to consider a borrower’s credit rating, the RV’s condition, and repayment terms to determine the loan amount.

You can finance almost any RV type, including Class A to C motorhomes, bus conversions, horse trailers, fifth wheels, travel trailers, and campers with this company.

3. Services


We must point out that Good Sam doesn’t only offer aspiring RV owners a chance to secure their dream recreational vehicles at reasonable prices and attractive borrowing rates. It also provides optional services to safeguard member investments.

  • RV Purchase – Good Sam lets you own an RV, whether it’s a brand-new unit or second-hand option.

Interest rates vary, depending on the recreational vehicle’s overall condition (newness and model year), your credit rating, and payment scheme (RV loan term or months).

  • RV Refinancing – If repaying your RV loan proves challenging, Good Sam can refinance the loan with an interest rate identical to the original financing program.

This feature effectively reduces the monthly loan repayment amount, easing the burden of cash-strapped RV owners without sacrificing their rides.

  • Financing for RV Full-timers – Few RV loan banks and financing institutions are willing to finance recreational vehicles for full-time RVers. The risks of being nomadic are too high (e.g., natural calamities, accidents, theft, etc.).

Thankfully, Good Sam understands RV full-timers’ plight, though documentary requirements for this loan are more substantial than financing a second-hand or brand-new RV for leisure purposes.

Still, Good Sam can shoulder at least $24,500 of the cost of an RV for residential use.

Other financing institutions might require a $100,000 minimum. Unfortunately, a higher loan amount translates to higher monthly repayments.


  • Roadside Assistance – Roadside emergencies occur, regardless of how prepared or careful you are when driving the RV. Thankfully, Good Sam will tow your RV to the nearest “repair” location.
  • Full-time RVers Insurance – Full-time RVers will have peace of mind with this Good Sam service, which covers their personal belongings, emergency expenses, medical costs, and personal liabilities.
  • Full Replacement Insurance – Here’s an insurance product you rarely see in financing institutions. It allows you to receive compensation for a totaled or stolen RV equivalent to the vehicle’s original five-model-year purchase price.
  • Mexico Insurance – About 25 million Americans visit Mexico yearly. The company partners with Mexico Insurance Online to give RVers comprehensive third-party liability and vehicle incident (i.e., vandalism, collision, and theft) coverage as they enjoy Mexico’s popular destinations.
  • TravelAssist Plan – You can call it Good Sam’s travel insurance, freeing you from worries about medical emergencies on the road. Good Sam can drive the RV to your home if you’re incapacitated.
  • Vanishing Deductible Scheme – The safer you drive the RV (i.e., “fewer” road “mishaps” and zero traffic violations), the lower the deductible amount. You can consider it an incentive.

The Benefits of Choosing Good Sam RV Loans


Is Good Sam RV loan good? Aspiring RV owners ask this nagging question a lot. We can always say it’s good, but we prefer to highlight the benefits you can get from this program.

  • Reasonable loan rates – Good Sam offers average RV loan rates of 3.7 to 9.5 percent, making it a suitable solution for budget-constrained aspiring RV owners. The best part is these rates apply to any vehicle type (i.e., new, 2nd hand, refinancing, or full-timers).
  • Highly variable loan amount – Aspiring RV owners can borrow as little as $10,000 from Good Sam. Borrowers can also apply for a $2 million RV loan for more luxurious models.
  • Finances 15-year-old RVs – Other RV financing institutions cap their loans at 8-year-old RVs. Meanwhile, Good Sam understands that a 15-year-old unit can still be road-worthy, provided a petrol RV has less than 61,000 miles on its odometer (105,000 for diesel units).
  • Budget-friendly processing fees – Although Good Sam waives its RV loan application fee, it does levy a processing fee.

The good news is the cost is the lowest on the market (equals about 1% of the loan). Moreover, Good Sam is upfront about the charge before they process the application. If you disagree with the processing fee, you can discuss options.

  • Flexible repayment – Good Sam allows aspiring RV owners to repay their loans in as short as four years to as long as two decades.

Good Sam RV Loans Drawbacks


  • Borrowers must earn a reliable income and have a clean banking history (i.e. bankruptcy or low credit scores can disqualify aspiring RV owners).
  • Loan applications may also take a long time to get processed, even with frequent calls to customer service. Some borrowers had to wait for weeks and not hear one word from Good Sam.

Application Process and Approval

The basic steps to apply for Good Sam RV loans are:


  1. Provide the details of the RV and check out the corresponding loan terms.
  2. Apply online and wait to receive an offer.
  3. Sign the loan documents.

Although Good Sam RV loans look enticing, some aspiring RV owners might dislike the stringent qualification criteria, complicated online application, and credit score restrictions, among others.

So, here are some tips to choose the best financing service for your RV.


  • Determine a budget you can work with and consider the loan’s repayment term (i.e., 10, 15, or 20 years) and extra RV costs (i.e., registration, fuel, maintenance, insurance, and repairs).
  • Decide whether to get a secured or unsecured RV loan. Most aspiring RV owners prefer a secured loan with a larger down payment and a shorter term.
  • Shop for an RV that matches your budget (please, stick to it). Should you go second-hand or pick a brand new unit instead? Is it for permanent residency or for leisure?
  • Shop for an RV financing institution, considering their rates, services, loan application ease, customer service, and reputation (i.e., BBB rating).


Good Sam RV loan reviews say many good things about this RV owners club’s financing program. And because it embodies the spirit of the American RVing community, aspiring camper owners can look forward to more competitive and flexible financing solutions.

Like any organization, Good Sam has drawbacks. However, its RV-loving community sets it apart, welcoming qualified loan borrowers to enjoy many exclusive benefits. It is more than enough reason to apply for an RV loan with Good Sam.

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