How to use the RV loan calculator
- 1 Enter the purchase price, down payment and any trade-in.
- 2 Enter sales tax and fees, and whether they are paid upfront or financed.
- 3 Enter the interest rate.
- 4 Choose the loan term and read your payment and total cost.
Worked example
A $90,000 RV with 10% down, 6% sales tax and $1,500 of fees paid upfront, at 8% for 15 years. The amount financed is $81,000 and the cash due at purchase is $15,900. The payment is $774.08 a month with $58,334.07 of interest. At 7%, the payment would be $728.05.
Buying an RV
- Plan for depreciation: avoid very long terms.
- Get an inspection on a used RV.
- Budget for insurance, storage and campgrounds.
- Compare dealer and credit union rates.
Add the tow vehicle with the Car Loan Calculator, compare with a Boat Loan Calculator, and save up with the Savings Goal Calculator.
Features
Long terms
Typical RV loan terms from 5 to 20 years.
Full cost
Sales tax, fees, interest and cash due at purchase.
Rate and term what-ifs
See the payment with a lower rate or a shorter term.
When to use it
Full-time RV living
Compare with housing costs in the Rent vs Buy Calculator.
Weekend camping
Fit the payment in your budget with the Budget Calculator.
Tow vehicle
Add the truck payment from the Car Loan Calculator.
Paying cash instead
Plan savings with the Savings Goal Calculator.
Related Home and Auto tasks
Frequently asked questions
How long can you finance an RV?
Loans over about $50,000 often have 15 to 20-year terms; smaller loans 5 to 12 years. Older RVs may get shorter terms.
What down payment do RV lenders want?
Usually 10% to 20%. A larger down payment helps because RVs depreciate quickly.
Is RV loan interest deductible?
It can be, if the RV has sleeping, cooking and toilet facilities and qualifies as your main or second home, and you itemize.
What credit score is needed for an RV loan?
Many lenders want 680 to 700 or more for the best rates, especially for large loans.
Do RVs lose value quickly?
Yes. Many lose 20% or more in the first year and about half their value in 5 to 7 years. Long loans can leave you owing more than it is worth.
Do I pay sales tax on an RV?
In most states, yes. Some states let you register in another state with lower tax, but rules on where you live apply.
What other costs come with an RV?
Insurance, fuel, maintenance, campground fees, storage, registration and repairs.
Can I finance a used RV?
Yes, often with shorter terms and higher rates for older models. Get an inspection before buying.
Is a dealer loan or a bank loan better?
Compare both. Dealers arrange loans through lenders and may mark up the rate; credit unions often offer competitive RV rates.
How much RV can I afford?
Keep the payment, insurance, storage and running costs to a small share of your budget. Many lenders look at your debt-to-income ratio, often wanting total debt payments under about 40% to 45% of gross income.
Can I get an RV loan with no down payment?
Some lenders offer it to borrowers with strong credit, but with nothing down you will likely owe more than the RV is worth for years because of fast depreciation.
Is it better to pay cash for an RV?
Paying cash avoids interest on a fast-depreciating asset. If you finance, a shorter term limits the interest.
Results are estimates based on the official rates linked above. Confirm important figures with the issuing authority or a qualified adviser before you act on them.
Built and reviewed by Hamza Farooq, founder and lead developer
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