What is RV short selling?

If you have an RV listed for short selling, it is usually sold for a lower price. Short selling occurs because you are experiencing financial difficulties and are unable to make regular payments on your RV loan. Selling an RV as soon as possible reduces your debt and minimizes losses to your lender.

What Is a RV Short Sale?
What Is a RV Short Sale?

Unable to repay the loan

If you’re struggling financially and have a loan on an RV, you may find that you can no longer afford to make your regular payments. If the situation persists, the lender may consider you to have defaulted on the loan, recover the RV, and sell it to minimize the damage. This scenario hurts your credit score, making it difficult for you to get a loan in the future. Short selling will minimize the effect of financial problems on your credit score.


If you think you can’t pay off your loan, contacting a lender right away will give you more options. Your lender may offer you options for short selling, loan modifications, or other ways to get your credit score back. In a short sale, the lender agrees to sell the RV and use the proceeds of the sale to repay the loan. Even if the sale price is lower than the unpaid amount, the lender will not ask you to repay the balance.


If you can’t pay off your loan, the lender usually gives you a deadline that you have to contact if you don’t want to have your debt reclaimed. Beyond this term, the lender may claim your RV and your credit score may drop. You need to talk to the lender to explain your situation and provide supporting documents, such as pay stubs. Once the lender agrees to a short sale, you no longer need to make regular payments on the loan.


The RV short sale aims to quickly turn the RV into cash to pay off the loan, so you may have to sell it below market price. Depending on your specific situation, the Internal Revenue Service may consider an RV your home. If so, you may be able to get a tax deduction on the interest on your federal tax return. Before selling your RV, talking to a tax professional will help you determine the tax impact of a short sale.

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