RV Loan Calculator
Estimate the monthly payment and total interest on an RV or motorhome loan.
An RV loan is a fixed-rate installment loan secured by the recreational vehicle. The payment depends on the amount, the rate, and the term. On a $60,000 RV loan at 8.25% over 15 years the payment is about $582 a month, with roughly $44,800 in total interest. Enter your numbers to see the payment and total cost.
These results are estimates for informational purposes only and are not financial, tax, or legal advice. Your actual figures from a lender or the IRS may differ. Consult a qualified professional before making decisions.
Estimated monthly payment
$582.08
Principal vs. interest paid per year
Amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $2,114 | $4,871 | $57,886 |
| 2 | $2,295 | $4,690 | $55,591 |
| 3 | $2,492 | $4,493 | $53,100 |
| 4 | $2,705 | $4,280 | $50,395 |
| 5 | $2,937 | $4,048 | $47,458 |
| 6 | $3,189 | $3,797 | $44,269 |
| 7 | $3,462 | $3,523 | $40,808 |
| 8 | $3,758 | $3,227 | $37,049 |
| 9 | $4,080 | $2,905 | $32,969 |
| 10 | $4,430 | $2,555 | $28,539 |
| 11 | $4,810 | $2,175 | $23,729 |
| 12 | $5,222 | $1,763 | $18,507 |
| 13 | $5,669 | $1,316 | $12,838 |
| 14 | $6,155 | $830 | $6,683 |
| 15 | $6,683 | $302 | $0 |
About the RV Loan Calculator
An RV loan is secured by the recreational vehicle, and the terms swing widely with the type of rig. A towable travel trailer is financed much like a car, often over 5 to 10 years, while a large Class A motorhome can carry a loan of 15 to 20 years because the amounts are closer to a house than to a vehicle. That long term is a double-edged tool: it makes a six-figure motorhome affordable month to month, but the interest adds up fast, and RVs depreciate quickly enough that a long loan can leave you owing more than the rig is worth for years. Lenders look closely at whether the RV is new or used and how old it is, since they are reluctant to write a 15-year loan on a unit that may not last the term. As with a boat, an RV with sleeping, cooking, and toilet facilities can qualify as a second home, which may make the loan interest deductible. Full-time RVers — people with no separate permanent residence — face stricter terms, because a lender treats a primary-residence RV as higher risk. This calculator assumes a fixed rate and level payments; compare offers by APR.
Frequently asked questions
How long can you finance an RV?+
It depends on the type and price. Travel trailers are often financed over 5 to 10 years, while large motorhomes can be financed for 15 to 20 years because the loan amounts are much larger. Longer terms lower the payment but raise total interest.
Is an RV loan interest tax deductible?+
It can be. An RV with sleeping, cooking, and toilet facilities may qualify as a second home, making the loan interest deductible like a mortgage. This does not apply if you already deduct interest on a second home. Check with a tax professional.
What credit score do you need for an RV loan?+
Rates are best for scores above 700, and many lenders look for a score in at least the mid-600s for a large motorhome. Older used units and full-time use can tighten requirements and raise the rate.
Why might I owe more than my RV is worth?+
RVs depreciate quickly, especially in the first few years, while a long loan pays down the balance slowly at first. On a 15- or 20-year term this can leave you underwater — owing more than the resale value — for a stretch, so a larger down payment helps.