Financing A 2nd Motorhome

One of the biggest things is going to be income. If you are self employed, or retired, it will be much more difficult to get a loan. Most self employed people have a very hard time proving their income. Assets really don't matter, because there is no way the lending institution can touch those short of forcing the borrower into bankruptcy, which is virtually impossible on a personal loan. Net worth is very easy to fake. Verifiable income is not. High net worth individuals borrowing money for toys is a red flag to lenders, especially when they already have a similar toy. They aren't picking on you personally, the banks just have to justify their loans much more thoroughly now. A loan from a bank today have to pass through their internal credit scoring, pass muster with their internal credit review committee, and not raise any alarms with the federal auditors. A second RV will definitely raise a red flag and the suspicion will be it is a straw purchase (purchase made by you for another person who is not qualified to buy it themselves) or a purchase of an asset prior to a foreclosure or repossession (see it all the time with cars and homes, people look to buy a new one right before defaulting on the other, especially when they are way upside down).