🏕️ RV Loan Calculator
Calculate RV loan payments
RV loans typically require 10-20% down payment
RV loans typically 5-20 years
How to Use This Calculator
Enter RV Price
Input the purchase price of the RV you want to finance.
Enter Down Payment
Enter your down payment amount (optional). RV loans typically require 10-20% down payment. A larger down payment reduces your loan amount and monthly payment.
Enter Interest Rate and Term
Enter the annual interest rate and loan term (typically 5-20 years for RV loans). RV loan rates and terms vary based on RV age, credit score, and lender.
Review Results
See your monthly payment, total interest, and total cost. Use this to plan your RV purchase and financing.
Formula
Loan Amount = RV Price - Down Payment
Monthly Payment = Loan Amount × [r(1 + r)ⁿ] / [(1 + r)ⁿ - 1]
Example Calculation:
If RV price $50,000, down payment $10,000 (20%), rate 6.5%, term 10 years:
• Loan amount = $50,000 - $10,000 = $40,000
• Monthly payment: ~$455
• Total interest: ~$14,600
• Total cost: ~$64,600
About RV Loan Calculator
An RV loan calculator helps you calculate monthly payments, total interest, and total cost for RV (Recreational Vehicle) loans. RV loans are used to finance the purchase of motorhomes, travel trailers, fifth wheels, and other recreational vehicles. RV loans are secured loans (the RV serves as collateral) and typically have terms ranging from 5 to 20 years. This calculator helps you understand the costs and payments associated with financing an RV purchase.
When to Use This Calculator
- RV Purchase Planning: Plan financing for RV purchases
- Budget Planning: Understand monthly payment requirements
- Loan Comparison: Compare different RV loan options
- Cost Analysis: Understand total cost including interest
Understanding RV Loans
- Secured Loans: RV serves as collateral
- Down Payment: Typically 10-20% required
- Terms: Typically 5-20 years (longer than auto loans)
- Rates: Vary based on RV age, credit score, and lender
- RV Age: Older RVs may have higher rates or shorter terms
Why Use Our Calculator?
- ✅ Payment Planning: See exact monthly payment amount
- ✅ Interest Analysis: Understand total interest costs
- ✅ Budget Planning: Plan your RV purchase budget
- ✅ Loan Comparison: Compare different RV loan options
- ✅ 100% Free: No registration or payment required
Frequently Asked Questions
What is an RV loan?
An RV loan is a secured loan used to finance the purchase of a recreational vehicle (motorhome, travel trailer, fifth wheel, etc.). The RV serves as collateral, and loans typically have terms of 5-20 years. RV loans are similar to auto loans but often have longer terms and may require higher down payments.
How much down payment do I need for an RV loan?
RV loans typically require 10-20% down payment, though this varies by lender, RV age, and credit score. New RVs may require 10-15% down, while older RVs may require 20% or more. A larger down payment reduces your loan amount, monthly payment, and interest costs.
What interest rates can I expect on an RV loan?
RV loan interest rates vary based on credit score, RV age, loan term, and lender. Rates typically range from 4-12% APR. New RVs and borrowers with excellent credit may get rates around 4-6%, while older RVs or borrowers with fair credit may see rates of 8-12% or higher. Shop around and compare offers.
How long are RV loan terms?
RV loan terms typically range from 5 to 20 years, longer than auto loans. Shorter terms (5-10 years) have higher monthly payments but less total interest. Longer terms (15-20 years) have lower monthly payments but more total interest. Choose based on what you can afford monthly and your financial goals.