# What will my RV loan cost?

Computes the monthly payment, total interest, payoff date, and full payment schedule of a fixed-rate loan for the RV.

- Page: https://www.acalculator.org/finance/rv-loan-calculator
- JSON spec: https://www.acalculator.org/finance/rv-loan-calculator.json
- Version: 616b7c22c794

## Default answer

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.

## Inputs

| Key | Label | Description |
| --- | --- | --- |
| price | Price of the RV | The price of the RV before tax and fees. |
| down | Cash down | The cash you pay up front, which lowers the amount you borrow. |
| trade | Trade-in value | What the dealer pays for your current vehicle. It lowers the amount you borrow and the taxed price. |
| rate | Interest rate (APR) | The yearly interest rate of the loan. The monthly rate is this divided by 12. |
| start | Loan start date | The day the loan starts. The first payment is one month later. Leave it empty to number the payments without dates. |
| term | Length of loan (months) | The number of monthly payments, from 1 to 240. |
| tax | Sales tax rate | The sales tax rate, charged on the price minus the trade-in value. |
| fees | Dealer and registration fees | Fees and add-ons charged on top of the price, for example documentation and registration. |
| taxin | Roll tax and fees into the loan | When on, the sales tax and fees are borrowed. When off, you pay them up front. |
| extra | Extra each month | An extra amount paid with every payment. It goes straight to the balance. |

## Outputs

| Key | Label | Description |
| --- | --- | --- |
| payment | Your monthly payment | The level monthly payment that repays the loan over its length, without extra payments. |
| payments | Number of payments | How many monthly payments it takes to repay the loan, with any extra payments. |
| payoff | Paid off in | The month of the last payment, when a start date is given. |
| each | You pay each month | The monthly payment plus any extra amount. The last payment is whatever is left, so it can be smaller. |
| span | Payments last | How many months of payments it takes to repay the loan, with any extra payments. |
| amount | Loan | The amount borrowed: price minus cash down and trade-in, plus tax and fees when rolled in. |
| interest | Interest | All the interest paid over the life of the loan. |
| paid | Total you’ll repay | The amount borrowed plus all the interest. |
| upfront | Paid up front | Cash down, plus the sales tax and fees when they are not rolled into the loan. |
| cost | What the RV really costs | The price plus sales tax, fees, and all the interest. |
| saved | Interest saved by paying extra | The interest the extra monthly amount saves, compared with no extra payments. |
| sooner | Months saved by paying extra | How many months sooner the loan is paid off with the extra monthly amount. |

## 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.

## Assumptions

- 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

1. price = $60,000.00, down = $10,000.00, trade = $0.00, rate = 9.99%, term = 84, start = 2026-10-01 gives amount = $50,000.00, payment = $829.80, interest = $19,703.27, payoff = 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/.
2. price = $80,000.00, down = $16,000.00, trade = $0.00, rate = 5.5%, term = 120, start = 2026-10-01 gives amount = $64,000.00, payment = $694.57, interest = $19,348.18, payoff = 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/.
3. price = $80,000.00, down = $16,000.00, trade = $0.00, rate = 5.5%, term = 180, start = 2026-10-01 gives payment = $522.93, interest = $30,128.01, payoff = 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/.
4. price = $80,000.00, down = $16,000.00, trade = $0.00, rate = 5.5%, term = 120, start = 2026-10-01, extra = $200.00 gives payments = 87, interest = $13,733.04, saved = $5,615.14, sooner = 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/.

## FAQ

### 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.

## Sources

- IRS Publication 936, Home Mortgage Interest Deduction (a home includes a house trailer or boat with sleeping, cooking, and toilet facilities). https://www.irs.gov/publications/p936
- 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/
- Amortized loan payment (annuity) formula: S. A. Broverman, Mathematics of Investment and Credit, chapter 3 (loan payment and amortization schedule).