#United States #Elkhart #RV financing #Aven #Forest River

Aven and Forest River: A Milestone in RV Financing

In a groundbreaking move within the recreational vehicle industry, Aven Financial and Forest River, Inc., a prominent name under the Berkshire Hathaway umbrella, have launched the first-ever co-branded home equity line of credit (HELOC). This innovative product not only streamlines the financing process for RV purchases but also integrates additional financial options for Forest River's extensive customer base.

The New Financing Solution

Unveiled on September 28, 2026, the Forest River Homeline Card is a dual-purpose card that merges a HELOC with a credit card. This unique financial tool allows homeowners to leverage their home equity to finance substantial RV investments while earning rewards at Forest River dealerships, giving an edge to customers when making these significant purchases. With over 80% of RV owners also being homeowners, this financing solution presents a valuable opportunity for many within the RV community.

How It Works

Aven places a strong emphasis on speed and convenience, enabling qualified homeowners to secure a pre-qualification offer in as little as three minutes. Gone are the days of tedious wait times typical with traditional HELOCs, which can often take weeks to process. With Aven, customers can potentially access their funds in as little as three days, making it far more feasible to finalize transactions at the dealership. The integration of a credit card means that customers can directly utilize their line of credit, which could lead to reduced cash requirements when purchasing an RV and more manageable monthly payment plans.

Expanding Financial Services

Not limited to just the Homeline Card, Aven and Forest River's partnership extends to two additional co-branded financial products aimed at enhancing the purchasing experience for RV consumers:

1. Forest River Journey Rewards Card: This card is tailored for RV owners making both sizeable and smaller purchases, providing 3% cash back at Forest River dealerships on up to $10,000 worth of annual purchases, plus 1% on all other purchases.
2. Forest River Trailhead Deposit Card: This everyday banking card imposes no homeownership requirement and links to a high-yield rewards checking account, offering users 2% cash back at Forest River dealerships on up to $5,000 in annual purchases.

These initiatives, introduced at the Forest River Expo taking place in Elkhart, Indiana, are designed to furnish the dealer network with versatile financial products that can be offered throughout the customer journey—from initial RV financing to ongoing rewards on accessories and services.

The Technology Behind the Model

Sadi Khan, co-founder and CEO of Aven, highlighted the technological advancements that make this innovative model possible. Aven's machine-banking platform employs automation to streamline processes like income verification and HELOC origination. This breakthrough in efficiency allows for accelerated access to essential funding combined with the convenience of credit cards, thereby offering customers a sophisticated, user-friendly financing approach.

Alexandra Atlas, Aven's head of strategic partnerships, remarked on the compatibility of home equity financing with the RV buying experience; this strategy not only furthers customer loyalty to the Forest River brand but also equips dealers with robust tools to foster longer-lasting relationships with their customers.

The Future of RV Financing

Forest River President Doug Gaeddert articulated the company's vision behind this collaboration. By incorporating home equity financing, rewards, and accessible banking under the Forest River brand, dealers are empowered to assist customers more effectively, leading to increased customer satisfaction and sales growth in service parts and accessories.

As Aven aims to replicate this co-branded model across other consumer brands, this partnership stands as a testament to the evolving landscape of RV financing—one that benefits both consumers and manufacturers alike.

To discover more about Aven's financing options created for Forest River customers, visit aven.com/forestriver.

About Aven

Aven is a financial technology company dedicated to enhancing banking efficiency by reducing borrowing costs. Its pioneering machine-banking platform automates various financial services, offering products like the Home Equity Visa Card and other innovative financial tools designed to help homeowners save significantly.

About Forest River, Inc.

Since its inception in 1996, Forest River, Inc. has grown to become North America's largest manufacturer of recreational vehicles and commercial vehicles. With a commitment to quality and customer-centric service, it remains a leading force in the RV industry.