RV Loan Calculator
Calculate your monthly payment for an RV, camper, or motorhome loan. Compare terms from 5 to 20 years and see total interest with amortization schedule.
Monthly RV Payment
$547/mo
Loan Amount
$48,150
Total Interest
$17,458
Total Paid
$65,608
Sales Tax
$3,150
Amortization Schedule (First 12 Months)
| Month | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | $547 | $261 | $286 | $47,864 |
| 2 | $547 | $259 | $287 | $47,577 |
| 3 | $547 | $258 | $289 | $47,288 |
| 4 | $547 | $256 | $291 | $46,997 |
| 5 | $547 | $255 | $292 | $46,705 |
| 6 | $547 | $253 | $294 | $46,411 |
| 7 | $547 | $251 | $295 | $46,116 |
| 8 | $547 | $250 | $297 | $45,819 |
| 9 | $547 | $248 | $299 | $45,520 |
| 10 | $547 | $247 | $300 | $45,220 |
| 11 | $547 | $245 | $302 | $44,918 |
| 12 | $547 | $243 | $303 | $44,615 |
๐ก How to Use the RV Loan Calculator
How to Calculate RV Loan Payments
RV loans can extend up to 20 years for higher-value units, making them more similar to mortgage financing than auto loans. The same PMT formula applies, but the longer terms and larger amounts create unique financing considerations.
RV Loan Tiers
| Loan Amount | Max Term | Typical APR |
|---|---|---|
| Under $25,000 | 7โ10 years | 7%โ12% |
| $25,000โ$75,000 | 10โ15 years | 6%โ9% |
| $75,000โ$150,000 | 15โ20 years | 5%โ8% |
| Over $150,000 | 15โ20 years | 5%โ7% |
New RVs typically qualify for lower rates than used. Credit unions and marine/RV specialty lenders often offer better rates than banks.
RV Ownership Costs Beyond the Payment
- Insurance: $1,000โ$3,000/year for full coverage
- Storage: $100โ$400/month if you don't have space at home
- Fuel: Class A motorhomes average 6โ10 MPG; Class C 10โ14 MPG
- Campground fees: $30โ$80/night (RV parks), $500โ$1,500/month (seasonal)
- Maintenance: $1,000โ$3,000/year (tires, engine, generator, roof sealing)
- Winterization: $150โ$500 annually in cold climates
Worked Example
$45,000 used RV, 7% sales tax, $5,000 down, 6.5% APR, 10-year (120-month) term:
- With tax: $48,150 โ $5,000 = $43,150 loan
- Monthly payment: $490/mo
- Total interest: $15,656
- Total cost: $63,806
Tips for Getting the Best RV Loan
- Get pre-approved from multiple lenders before visiting a dealer
- Credit unions often beat dealer financing by 1โ2%
- Negotiate the RV price separately from the financing
- Consider a shorter term โ the interest savings on a 10-year vs. 20-year loan can be $20,000+