What will my RV loan cost?
Find your monthly RV payment, the total interest, and the month the loan is paid off.
- Your monthly payment
- $694.57
Borrowing $64,000.00 at 5.5% APR over 120 months costs $694.57 a month, with $19,348.18 of interest in total.
- Number of payments
- 120
- Paid off in
- October 2036
- You pay each month
- $694.57
- Payments last
- 120 months
- Loan
- $64,000.00
- Interest
- $19,348.18
- Total you’ll repay
- $83,348.18
- Paid up frontCash down, plus tax and fees not in the loan
- $16,000.00
- What the RV really costsPrice, tax, fees and interest
- $99,348.18
- Months
- 120
Answer for the example date Monday, October 5, 2026. It changes to today's date when the page loads.
Your monthly payment: $694.57. Borrowing $64,000.00 at 5.5% APR over 120 months costs $694.57 a month, with $19,348.18 of interest in total.
How much of what you repay is interest?
Where does each payment go?
What does every payment look like?
The results are estimates for information only. They are not financial, tax, or legal advice. Check the numbers with your lender or a qualified professional before you decide. Terms of use
How to calculate
Computes the monthly payment, total interest, payoff date, and full payment schedule of a fixed-rate loan for the RV.
Example with the default inputs (Price of the RV $80,000.00, Cash down $16,000.00, Trade-in value $0.00, Interest rate (APR) 5.5%, Loan start date October 5, 2026, Length of loan (months) 120, Sales tax rate 0%, Dealer and registration fees $0.00, Roll tax and fees into the loan Yes, Extra each month $0.00) on the example date Monday, October 5, 2026: Borrowing $64,000.00 at 5.5% APR over 120 months costs $694.57 a month, with $19,348.18 of interest in total.
Method: payment = L × r ÷ (1 − (1 + r)^−n), with L the amount borrowed, r the APR ÷ 12, and n the number of months; each month, interest = balance × r and the rest of the payment lowers the balance.
- The rate is fixed for the whole loan and interest is charged monthly at APR ÷ 12.
- Payments are made at the end of each month, starting one month after the start date.
- Sales tax is charged on the price minus the trade-in value, as most US states do.
- Extra payments go straight to the balance; the last payment is whatever is left.
- Values are not rounded to the cent between months; only the display is rounded.
Worked examples
Each example is checked against the calculator on every build.
- Price of the RV $60,000.00, Cash down $10,000.00, Trade-in value $0.00, Interest rate (APR) 9.99%, Length of loan (months) 84, Loan start date 2026-10-01 gives Loan $50,000.00, Your monthly payment $829.80, Interest $19,703.27, Paid off in 2033-10-01.Source: Consumer Financial Protection Bureau, Can I prepay my loan at any time without penalty? https://www.consumerfinance.gov/ask-cfpb/can-i-prepay-my-loan-at-any-time-without-penalty-en-843/
- Price of the RV $80,000.00, Cash down $16,000.00, Trade-in value $0.00, Interest rate (APR) 5.5%, Length of loan (months) 120, Loan start date 2026-10-01 gives Loan $64,000.00, Your monthly payment $694.57, Interest $19,348.18, Paid off in 2036-10-01.Source: Consumer Financial Protection Bureau, Can I prepay my loan at any time without penalty? https://www.consumerfinance.gov/ask-cfpb/can-i-prepay-my-loan-at-any-time-without-penalty-en-843/
- Price of the RV $80,000.00, Cash down $16,000.00, Trade-in value $0.00, Interest rate (APR) 5.5%, Length of loan (months) 180, Loan start date 2026-10-01 gives Your monthly payment $522.93, Interest $30,128.01, Paid off in 2041-10-01.Source: Consumer Financial Protection Bureau, Can I prepay my loan at any time without penalty? https://www.consumerfinance.gov/ask-cfpb/can-i-prepay-my-loan-at-any-time-without-penalty-en-843/
- Price of the RV $80,000.00, Cash down $16,000.00, Trade-in value $0.00, Interest rate (APR) 5.5%, Length of loan (months) 120, Loan start date 2026-10-01, Extra each month $200.00 gives Number of payments 87, Interest $13,733.04, Interest saved by paying extra $5,615.14, Months saved by paying extra 33.Source: Consumer Financial Protection Bureau, Can I prepay my loan at any time without penalty? https://www.consumerfinance.gov/ask-cfpb/can-i-prepay-my-loan-at-any-time-without-penalty-en-843/
How the payment is worked out
The calculator uses the standard formula for a fixed-rate loan repaid in equal monthly payments:
payment = L × r ÷ (1 − (1 + r)^−n)
- L is the amount you borrow: the price, minus your cash down and trade-in value, plus the sales tax and fees when you roll them into the loan.
- r is the monthly rate: the APR divided by 12, written as a decimal (6% APR gives r = 0.06 ÷ 12 = 0.005).
- n is the number of monthly payments, from 1 to 240 (120 for a 10-year loan).
- At 0% APR the payment is simply L ÷ n.
Each month, the interest is the balance times r. The rest of the payment lowers the balance. The last payment is whatever is left, so the principal parts add up to exactly the amount borrowed. The total interest is the sum of the monthly interest amounts.
Assumptions
- The rate stays the same for the whole loan.
- The first payment is one month after the loan start date, and payments are made at the end of each month. The payoff month is the start date plus n months.
- Sales tax is charged on the price minus the trade-in value. Fees are added on top. Both start at 0.
- The tax and fees are borrowed when “Roll tax and fees into the loan” is on (the default). When it is off, they are paid up front with your cash down.
- An extra monthly amount is paid with every payment and goes straight to the balance. “Interest saved” compares the interest with n level payments and no extra.
- If the cash down and trade-in cover the price with the tax and fees, nothing is borrowed: the payment, the number of payments, and the interest are 0, and there is no payoff month.
- You pay each month is the payment plus the extra monthly amount (the payment alone when there is no extra). Payments last is the number of monthly payments, with any extra payments, in months. The answer sentence uses both (“over 58 months costs $612.50 a month”, “over 1 month”). The last payment is whatever is left, so it can be smaller.
- “Interest saved” and “Months saved” appear only when the extra is above 0 and something is borrowed.
- “What the RV really costs” is the price plus the sales tax, the fees, and all the interest.
- Values are not rounded to the cent from month to month. Only the display is rounded, so a lender’s schedule can differ by a few cents.
Worked examples by hand
A $60,000 RV with $10,000 down, 9.99% APR, 84 months. L = $50,000, r = 0.0999 ÷ 12 = 0.008325 and n = 84. (1 + r)^−84 = 0.498374. The payment is 50,000 × 0.008325 ÷ (1 − 0.498374) = $829.80. The interest is 84 × 829.80 − 50,000 = $19,703.27. For a loan that starts on October 1, 2026, the last payment is in October 2033.
The page’s default: an $80,000 RV with $16,000 down, 5.5% APR, 120 months. L = $64,000, r = 0.055 ÷ 12 = 0.0045833 and n = 120. (1 + r)^−120 = 0.577675. The payment is 64,000 × 0.0045833 ÷ (1 − 0.577675) = $694.57. The interest adds up to $19,348.18. For a loan that starts on October 1, 2026, the last payment is in October 2036.
The same loan over 15 years. With n = 180, (1 + r)^−180 = 0.439062, so the payment is 64,000 × 0.0045833 ÷ (1 − 0.439062) = $522.93. The interest is $30,128.01. The last payment is in October 2041.
Paying $200 extra each month. On the 10-year loan, pay $694.57 + $200 = $894.57 a month. Each month the interest is the balance × 0.0045833 and the rest lowers the balance. The balance runs out after 87 payments, 33 sooner than 120. The interest adds up to $13,733.04, against 120 × 694.57 − 64,000 = $19,348.18 without the extra, so the extra saves $5,615.14.
Other questions people ask
How is an RV loan different from a car loan?
While both are installment loans used to purchase a vehicle, there are a few key differences: Loan Term: RV loans often have much longer terms. While car loans typically max out around 7 years, RV loan terms can range from 10 to 20 years, especially for larger, more expensive models. Loan Amount: RVs are generally more expensive than cars, so the principal loan amount is usually higher. Interest Rates: Interest rates can sometimes be slightly higher than prime auto loan rates, as RVs are considered luxury items. However, rates are still very competitive.
Is the interest on an RV loan tax-deductible?
It can be! For an RV loan's interest to be tax-deductible, the RV must qualify as a second home. According to the IRS, a property qualifies as a home if it has basic living accommodations: a place to sleep, a toilet, and cooking facilities. Most Class A, Class C, and many Class B motorhomes, as well as larger travel trailers and fifth wheels, meet this requirement. If your RV qualifies and the loan is secured by it, you can deduct the interest as home mortgage interest when you itemize deductions. Always consult with a tax professional to confirm your specific situation.
Does the type of RV I buy affect the loan?
Yes, it can. Lenders consider the type, age, and value of the RV. Motorized vs. Towable: Loans for motorized RVs (Class A, B, C) can sometimes have different terms or rates than loans for towable RVs (travel trailers, fifth wheels). New vs. Used: You can finance both new and used RVs. However, lenders often have age restrictions on used models (e.g., not older than 10 years) and may offer slightly shorter terms or higher rates for older units.
What are typical loan terms for an RV?
Loan terms for RVs are very flexible and depend on the loan amount and the age of the RV. Small Loans (< $25,000): 5-10 years. Medium Loans ($25,000 - $75,000): 10-15 years. Large Loans (> $75,000): 15-20 years. Longer terms result in a lower monthly payment, but you will pay more in total interest over the life of the loan. Use our calculator above to see how different terms affect your payment.
How much of a down payment do I need for an RV?
Most lenders require a down payment of 10% to 20% of the RV's purchase price. Providing a larger down payment is always beneficial as it reduces your loan amount, lowers your monthly payment, and can help you secure a better interest rate. It also reduces the risk of being "upside down" on your loan (owing more than the RV is worth).
What credit score do I need to get an RV loan?
Generally, a credit score of 680 or higher will give you a good chance of approval with competitive rates. Applicants with scores of 720 and above will likely be offered the best rates and terms. While some lenders may approve loans for scores in the low-to-mid 600s, the interest rates will be significantly higher.
What other costs should I budget for besides my monthly loan payment?
Your loan payment is just one piece of the puzzle. Remember to budget for these additional RV ownership costs: Insurance: Comprehensive and collision coverage is required by all lenders. Storage: If you can't park it at home, you'll need to pay for a storage facility. Maintenance & Repairs: RVs have multiple systems (plumbing, electrical, mechanical) that require regular upkeep. Fuel: This can be a significant expense, especially for large Class A motorhomes. Taxes & Registration: Just like any other vehicle, you'll have annual fees. Campground Fees: Unless you primarily boondock, you'll be paying for campsites.
Where can I get an RV loan?
You have several options, and it pays to shop around: Banks and Credit Unions: Your local bank or credit union is a great place to start, especially if you have an existing relationship with them. Online Lenders: There are many national lenders that specialize in recreational vehicle financing. Dealership Financing: The RV dealer will have relationships with multiple lenders and can handle the paperwork for you. While convenient, their rates may not always be the most competitive, so it's good to arrive with a pre-approval from another source.
What is the difference between pre-qualification and pre-approval?
Pre-qualification is a quick estimate of what you might be able to borrow based on self-reported financial information. It doesn't involve a hard credit check. Pre-approval is a conditional offer for a specific loan amount from a lender. It requires a formal application and a hard credit inquiry, which will appear on your credit report. A pre-approval gives you serious negotiating power at the dealership.
Can I pay off my RV loan early? Are there prepayment penalties?
Most RV loans are simple interest loans and do not have prepayment penalties. This means you can make extra payments toward the principal or pay the entire loan off early to save on interest without incurring a fee. However, you should always verify this with your specific lender before signing the loan agreement.