RV loans often run 10–20 years for larger motorhomes, with 10–20% down. Long terms lower the payment but RVs depreciate quickly, so you can owe more than it’s worth for years.
How to use the RV Loan Calculator
- Loan amount
- Interest rate (APR)
- Loan term
Results update as you type, and every field accepts the units shown in its menu.
How it works
Enter the loan amount, interest rate and term.
Tips
- Compare loans by APR and total cost, not just the monthly payment.
- Extra payments go straight to principal and can save a lot of interest.
- Pay off the highest-rate debt first if you want to save the most money.
- Check for prepayment penalties before paying a loan off early.
Common mistakes to avoid
- Stretching a loan term to lower the payment without seeing the extra interest.
- Paying only the minimum on credit cards.
- Forgetting fees that are rolled into the loan.
Inputs explained
| Field | What to enter |
|---|---|
| Loan amount | Amount in your currency |
| Interest rate (APR) | In % |
| Loan term | Units: years, months |
What each result means
- Monthly payment = pmt([Interest rate (APR)]÷1200, [Loan term], [Loan amount])
- Total interest = [Monthly payment]×[Loan term] – [Loan amount]
- Total of all payments = [Monthly payment]×[Loan term]
Example values
How the main result changes when Loan amount changes and everything else stays at the example values above:
| Loan amount | Monthly payment |
|---|---|
| 37,500 | 369.28 |
| 56,250 | 553.92 |
| 75,000 | 738.55 |
| 93,750 | 923.19 |
| 112,500 | 1,107.83 |
| 150,000 | 1,477.11 |
Formula
Monthly payment = L × i ÷ (1 − (1 + i)^−n), i = APR ÷ 12, n = monthsTotal interest = payment × n − LWorked example
Inputs — Loan amount: $75,000; Interest rate (APR): 8.5 %; Loan term: 15 years.
Results — Monthly payment = $738.55; Total interest = $57,939.84; Total of all payments = $132,939.84.
Frequently asked questions
How long can you finance an RV?
Up to 15–20 years for expensive motorhomes, 5–12 for smaller ones.
What credit score do I need?
Usually 680–700+ for the best rates.
Is RV loan interest deductible?
It can be if the RV qualifies as a second home.
What formula does the RV Loan Calculator use?
Monthly payment = L × i ÷ (1 − (1 + i)^−n), i = APR ÷ 12, n = months.