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RV Loan Calculator

Use our free RV loan calculator to estimate what your monthly payments might be. Simply input the RV price to see what your results are.

Asset Brief is an independent publisher focused on helping you improve your financial decisions. Some of the products featured may be from our partners. This does not influence our reviews, which are based on many hours of research.

$
Your monthly payment
  $532
10 year loan
RV price
 $50,000
Loan amount
 $49,000
Your auto loan
Total principal paid $49,000
77% of total loan payment
Total interest paid $14,813.45
23% of total loan payment
Total loan payment = $63,813.45
RV
$
$
%
Sales tax of $2,500
Loan terms
120 months
%

RV loan calculator

Purchasing an RV is a major financial decision and is similar to choosing a home. An RV is a home in a way, a home with wheels. This RV loan calculator can help you plan your budget and understand how much RV you can afford.

How to use the RV loan calculator

This RV loan calculator will provide you with an estimate of your monthly loan payments. Start by entering the price of the vehicle you are interest in, the loan term and interest rate on the loan. You can optionally enter your down payment, trade-in value and sales tax for a more granular result. 

Here’s what the inputs means:

  • RV price: This is the price of the RV you are interested in purchasing.
  • Loan term: This is how long you are looking to borrow for.
  • Interest rate: Enter the annual interest rate on your loan.
  • Down payment: Enter the amount of money you plan to put down on your RV. A higher down payment will reduce the size of your auto loan. Most dealerships will require 10% to 20% of the purchase price as a down payment. Larger down payments will lower your RV loan amount.
  • Trade-in value: Oftentimes you can trade in your previous vehicle for cash at the dealership.
  • Sale tax: Sales tax is charged on vehicle purchases and most state’s sales tax range from around 5% to 10%.

How much do you want to borrow?

The amount of money that you need to borrow is the RV price, adjusted for sales tax, less any down payment and trade-in value.



RV loan = RV price x (1 + Sales tax rate) − Down payment − Trade-in value



The more money you put down and the higher the trade-in value on your existing vehicle, the lower your loan amount will be. A smaller loan amount reduces your monthly payment.

RVs typically cost between $10,000 and $300,000 depending on the size, type, and features.

How long will your loan be for?

RV loans terms are in between those for auto loans and home loans (mortgages). RV loan terms, on average, are between 10 to 15 years, but some can be for up to 20 years.

With longer loan terms, you will pay less each month, but more overall as your interest payments will be greater. Shorter loan terms have bigger monthly payments, but your overall loan costs will be reduced because you will pay less in interest over the life of the loan.

What interest rate will you pay?

The average annual interest rate for an RV ranges from about 5.5% to 6.5%. Your interest rate will vary based on the lender, loan term, and your credit score. The better your credit score, usually the lower the interest rate you pay.

Understanding your calculated results

  • Monthly payments: This is what you can expect to pay each month towards your loan repayment.
  • Loan amount: Your loan amount is how much money you need to borrow to finance your vehicle purchase. The loan amount includes the vehicle price, sales tax, down payment, and any trade-in value.
  • Total principal paid: The principal of the loan is the original loan amount that you borrow.
  • Total interest paid: This is the sum of all interest you pay over the life of the loan.
  • Total payment: The total payment is the sum of the principal and the interest payments that you will pay over the life of the loan.

A guide to RV living

The RV life and the freedom it offers can be enticing to many. You can live wherever you want and move with the climate. There are many different types of RVs that you can pick and choose from. This guide helps you understand the right RV for you.

What is an RV?

An RV, or a recreational vehicle, is a motor vehicle that includes basic house accommodations, such as a kitchen, sleeping area, and working area. RVs have wheels and can be driven or towed by an SUV for example.

There are several different types of RVs, such as fifth-wheel trailers, camper vans, truck campers, motorhomes and popup campers. RVs can also come in different forms — some can be towed or can be a standalone vehicle.

There is no right answer which RV is the best. The best RV for you is dependent on your budget, lifestyle, and needs.

Types of RV

There are three primary types of RVs, and within each of these, there are various options. The three primary types are:

  • Motorhomes: Motorhomes are generally what you think of when you think of an RV. Motorhomes are homes with motors. They are standalone vehicles with living accommodations.
  • Trailers: Trailers do not have motors and need to be towed by a truck.
  • Campers: Campers are smaller than trailers and also need to be towed by a truck or large SUV. These are typically used for short trips.

Class A motorhomes

Pros
Lots of living area
Kitchen and bathroom amenities (refrigerator, oven, microwave, toilet, shower)
Great for long distance travel
Cons
Expensive
Size limits ability to travel to some areas

Class A motorhomes are the largest and fanciest motorhomes available. These look like Greyhound buses and have average lengths of 25 th 48 feet. These are excellent for full-time RVings with plenty of living space and storage area under the coach.

Most Class A motorhomes will have a slide out, kitchen, bathroom, dining table, and bedroom. Some may have showers and ovens. Most have air conditioning units.

Class B motorhomes

Pros
Easy to drive
Good for quick travel excursions
More fuel efficient
Cons
Smaller living space
Fewer kitchen and bathroom amenities

These motorhomes are a little bit bigger than a van and are easy to drive. Class B motorhomes are smaller than Class A and C motorhomes. They are the smallest of all the motorhomes.

Class B's can be parked in regular parking spaces. They generally will include a bathroom and kitchen. However, there is very little storage and therefore are not suitable for full-time living.

Class C motorhomes

Pros
Great for short trips
Good living space
Kitchen and bathroom amentities
Cons
Can be expensive
Less space than Class A motorhomes

Class C motorhomes look similar to a U-Haul moving truck and are excellent for vacations and weekend getaways. They are easier to drive than Class A motorhomes and some have slides.

However, compared to Class A motorhomes, Class C motorhomes generally have less storage, are shorter and smaller, and might not have a full bedroom. They are not as well suited to full-time living. There is usually only one air conditioning unit.

Travel trailers

Pros
Can be towed
Good price
Popular with families
Cons
Requires a large SUV or truck to tow
May be difficult to back up

Travel trailers are also known as campers and come in a variety of sizes. These are less expensive than a motorhome but require an SUV to tow them. There is little storage space, but you can make up for this with the storage space in your SUV.

Travel trailers have amenities like a bathroom, kitchen, bedroom, and dining area. Unlike motorhomes driving is separated from living. In a motorhome, when one person is driving, the other person could be working at in the dining area or stretching their legs. This is not possible with a travel trailer.

Fifth wheel trailers

Pros
Layout is similar to a house
Excellent for full-time living
Very large
Cons
Requires a heavy-duty truck to tow
"Home" and driving are separate

Fifth wheel trailers are excellent for full-time living and are the largest of the travel trailers. There is a good amount of storage space and most have slides. However, they do require a big truck to tow them which adds to your overall RV expense.

Fifth wheel trailers have layouts that are most similar to house. There will be a couch, two air conditioning units, kitchen, and more. It generally has the best amenities. Fifth wheel trailers are great if you plan to stay in one place for a few weeks. If you want to move around more frequently, a motorhome may be better.

Popup camper

Pros
Easy to use
Lightweight
Great for short trips
Cons
Fewer amenities
May not have air conditioning

Popup campers are not well suited for full-time living due to its small living space and lack of air conditioning. They are better for weekend travel or short trips.

Truck campers

Pros
Easy to drive
Great for faster-paced travel
Lightweight
Cons
Requires a truck
Fewer amenities

Truck campers are among the smallest RV options. They usually have a small kitchen, dining room, bathroom, and a bed.

Choosing the right RV for you

When choosing your RVs, there are a few factors that are more important than others.

Camping style

Whether you are planning to use your RV as your primary home for several years, or only for a couple months a year should factor into what size RV you need. Those who plan to live in their RV full-time may want a bigger RV, while those using their RV only occasionally might consider a smaller one.

Number of people

How many people will be staying in the RV? More people requires a bigger RV.

Weight

The weight of an RV is important particular if you are buying a camper or a trailer that would be towed. How much weight you can tow is dependent on the towing capacity of your truck or SUV and the weight of the RV.

Weight is less important for motorhomes.

Floor plan

Because you will be spending a lot of time inside your RV and space is a precious commodity, the RV’s floor plan is an important factor in determining which RV to buy. What are the must-haves you want? Some people might prioritize having counter space or enough sleeping space for four people, while others might want tables where they can work remotely.

Slide outs

Slide outs are parts of your RV that slide out when you are parked and provide you with more living space. This is a great way to get extra space when you are camped.