RV loan calculator
This RV loan calculator is set to a long term, because RV loans often run 10 to 20 years, and it shows how much interest that adds.
Amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $2,586.86 | $6,275.74 | $72,413.14 |
| 2 | $2,815.47 | $6,047.13 | $69,597.67 |
| 3 | $3,064.36 | $5,798.24 | $66,533.31 |
| 4 | $3,335.21 | $5,527.39 | $63,198.10 |
| 5 | $3,630.03 | $5,232.57 | $59,568.07 |
| 6 | $3,950.88 | $4,911.72 | $55,617.19 |
| 7 | $4,300.10 | $4,562.50 | $51,317.09 |
| 8 | $4,680.18 | $4,182.42 | $46,636.91 |
| 9 | $5,093.88 | $3,768.72 | $41,543.03 |
| 10 | $5,544.14 | $3,318.46 | $35,998.89 |
| 11 | $6,034.18 | $2,828.42 | $29,964.71 |
| 12 | $6,567.55 | $2,295.05 | $23,397.16 |
| 13 | $7,148.06 | $1,714.54 | $16,249.10 |
| 14 | $7,779.89 | $1,082.71 | $8,469.21 |
| 15 | $8,469.21 | $395.05 | $0.00 |
Why RV loans run so long
RVs are expensive, so lenders offer terms of 10 to 20 years on larger loans. The long term keeps the payment manageable but multiplies the interest, and RVs depreciate quickly, so you can owe more than the vehicle is worth for many years. A larger down payment, often 10% to 20%, is common.
Costs beyond the loan
Insurance, storage, maintenance, campground fees and fuel add up. Some RVs qualify as a second home for tax purposes if they have sleeping, cooking and toilet facilities, but rules vary, so ask a tax professional before relying on it.
$75,000 at 8.5% by loan length
Borrowing $75,000 at 8.5% over 15 years costs $738.55 a month and $57,941 in interest, $132,941 in total. Shorter terms raise the payment but cut the interest, and longer terms do the reverse. The table shows the trade-off across common terms.
| Term | Monthly payment | Total interest | Total paid |
|---|---|---|---|
| 12-month | $6,541.48 | $3,498 | $78,498 |
| 2-year | $3,409.18 | $6,820 | $81,820 |
| 3-year | $2,367.57 | $10,232 | $85,232 |
| 4-year | $1,848.62 | $13,734 | $88,734 |
| 5-year | $1,538.74 | $17,324 | $92,324 |
| 7-year | $1,187.74 | $24,770 | $99,770 |
| 10-year | $929.89 | $36,587 | $111,587 |
How your rate changes the cost
Personal loan rates vary widely with credit score, from the mid single digits for strong borrowers to 30% or more for weak credit. On $75,000 over 15 years, moving from 8.5% to 11.5% adds $24,766 in interest.
| APR | Monthly payment | Total interest |
|---|---|---|
| 5.5% | $612.81 | $35,306 |
| 7% | $674.12 | $46,342 |
| 8.5% | $738.55 | $57,941 |
| 10% | $805.95 | $70,073 |
| 11.5% | $876.14 | $82,706 |
How much can you borrow for a given payment?
Working backwards at 8.5% over 15 years, here is the loan size each monthly payment supports.
| Monthly payment | Loan amount |
|---|---|
| $200/month | $20,310 |
| $300/month | $30,465 |
| $400/month | $40,620 |
| $500/month | $50,775 |
When is half of a $75,000 loan repaid?
With a $738.55 payment, the balance falls below half ($37,500) after 117 payments, about 9.8 years into a 15 years loan. Because interest is highest at the start, the second half of the loan is paid down much faster than the first.
| After | Balance left | Paid so far |
|---|---|---|
| 1 year | $72,413 | $8,863 |
| 2 years | $69,598 | $17,725 |
| 3 years | $66,533 | $26,588 |
| 5 years | $59,568 | $44,313 |
| 7 years | $51,317 | $62,038 |
| 10 years | $35,999 | $88,626 |
Frequently asked questions
How long can you finance an RV?
Often 10 to 15 years, and up to 20 years for larger loans and strong credit.
Is the RV loan rate higher than a car loan?
Often slightly, because of the longer term and faster depreciation, though rates vary by credit, term and RV type.
How is a loan payment calculated?
The payment is principal × r ÷ (1 − (1 + r)^−n), where r is the monthly rate (APR ÷ 12) and n is the number of months. Each payment covers that month’s interest first, and the rest reduces the balance.
What is the difference between interest rate and APR?
The interest rate is the cost of borrowing the money. APR also includes certain fees, so it is the better number for comparing offers. This calculator treats the rate you enter as the rate that accrues on the balance.
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Estimates from standard loan formulas, not a loan offer or financial advice. Example rates are assumptions: use your own quote.