RV Loan Calculator
Calculate monthly payments and total costs for your RV financing
RV Loan Details
Quick Scenarios:
Enter your RV details to calculate your monthly payment
How RV Loans Work
RV loans are similar to auto loans but often have longer terms (up to 20 years for new RVs) due to the higher purchase prices. The loan amount is based on the purchase price plus taxes and fees, minus your down payment and trade-in value.
Interest rates for RV loans typically vary based on your credit score, the type of RV, and whether it's new or used. Class A motorhomes generally qualify for better rates than travel trailers due to their higher value.
Like mortgages, RV loans are amortized, meaning each payment includes both principal and interest. Early payments are mostly interest, while later payments go more toward principal.
Tips for RV Financing
- Put down 10-20%: A larger down payment reduces your monthly payment and can get you better interest rates
- Consider shorter terms: While 15-20 year loans have lower payments, you'll pay significantly less interest with a 7-10 year term
- Shop around for rates: Compare offers from banks, credit unions, and RV dealers to find the best rate
- Factor in all costs: Don't forget insurance, storage, maintenance, and fuel costs when budgeting
- Get pre-approved: Know your budget before shopping to negotiate better and avoid overspending
Frequently Asked Questions
What credit score do I need for an RV loan?
Most lenders require a credit score of at least 660 for RV loan approval, though some may approve scores as low as 600 with higher interest rates. Credit scores above 700 typically qualify for the best rates. If your score is lower, consider making a larger down payment or finding a co-signer to improve your chances.
How long can RV loan terms be?
RV loan terms typically range from 5 to 20 years, depending on the loan amount and type of RV. Class A motorhomes and large fifth wheels often qualify for longer terms (15-20 years) due to their higher values, while travel trailers and smaller RVs may have shorter maximum terms (10-15 years). Longer terms mean lower monthly payments but significantly more interest paid over time.
Do I need a down payment for an RV loan?
While some lenders offer 100% financing, most require a down payment of 10-20% of the purchase price. A larger down payment reduces your monthly payment, lowers your interest rate, and helps you avoid being underwater on your loan (owing more than the RV is worth). It also shows lenders you're financially responsible, improving approval chances.
Are RV loan interest rates higher than car loans?
RV loan rates are typically 1-2 percentage points higher than auto loan rates. As of 2025, expect rates between 5-9% for new RVs and 6-11% for used RVs, depending on your credit score and loan term. Rates are higher because RVs depreciate faster than homes but slower than cars, and they're considered recreational rather than essential vehicles.
Can I deduct RV loan interest on my taxes?
Yes, if your RV qualifies as a second home. To deduct interest, the RV must have sleeping, cooking, and toilet facilities. The deduction is limited to interest on up to $750,000 of qualified residence loans ($375,000 if married filing separately). Consult a tax professional to determine your eligibility, as tax laws change and individual situations vary.
What other costs should I budget for besides the loan payment?
Beyond your monthly loan payment, budget for RV insurance ($1,000-$4,000/year), storage or campground fees ($50-$500/month), maintenance and repairs ($500-$2,000/year), fuel costs (6-12 MPG for motorhomes), registration and licensing fees, and roadside assistance. First-time RV owners often underestimate total ownership costs—plan for at least $300-$800/month in additional expenses.