RV Loan Calculator

How RV Loans Work

An RV loan is a secured installment loan specifically designed for purchasing recreational vehicles, including motorhomes, travel trailers, fifth wheels, and camper vans. Like an auto loan, the RV itself serves as collateral, which generally keeps interest rates lower than unsecured personal loans. However, because RVs are more expensive and depreciate differently than standard automobiles, RV loan terms, rates, and qualification requirements have their own unique characteristics.

Most RV loans follow a standard amortization structure. Each monthly payment includes a portion that goes toward paying down the principal balance and a portion that covers the interest charged by the lender. In the early years of a long-term RV loan, the majority of your payment goes toward interest. As the loan matures, the principal portion gradually increases. Understanding this amortization schedule is critical because it shows exactly how much of your money is going toward equity in the RV versus the cost of borrowing.

RV loans are offered by a variety of lenders, including banks, credit unions, online lenders, and RV dealerships. The terms and qualification criteria can vary significantly from one lender to the next, so shopping around is essential. According to the Consumer Financial Protection Bureau (CFPB), comparing at least three loan offers before committing can save borrowers thousands of dollars over the life of the loan.

Current RV Loan Interest Rates

RV loan interest rates depend on several factors, including the borrower's credit score, the loan term, the age of the RV, and the amount being financed. As of early 2026, typical RV loan rates range from approximately 6% to 12% APR for borrowers with good to excellent credit. Buyers with credit scores below 650 may see rates as high as 15% to 18% or may need to consider alternative financing options.

New RVs generally qualify for lower interest rates than used models. Lenders view new RVs as less risky because their value is more predictable, and manufacturers sometimes offer promotional financing through dealer partnerships. Used RVs, especially those older than 10 years, often come with higher rates and shorter maximum loan terms because the lender faces greater depreciation risk.

The loan term also affects your rate. Shorter terms (5 to 10 years) typically carry lower rates than longer terms (15 to 20 years). While a longer term reduces your monthly payment, the total interest paid over the life of the loan can be dramatically higher. For example, a $60,000 RV financed at 7.5% for 10 years costs about $25,000 in total interest, while the same loan stretched to 20 years costs over $55,000 in interest. Our RV loan calculator above shows you exactly how different terms and rates affect your total cost.

How to Get the Best RV Loan Rate

Securing the lowest possible interest rate on your RV loan can save you tens of thousands of dollars. Here are the most effective strategies for getting a competitive rate:

Improve your credit score before applying. Your credit score is the single biggest factor in the rate you are offered. A score above 740 typically qualifies you for the best available rates. If your score is below that threshold, consider spending 3 to 6 months paying down existing debt, correcting errors on your credit report, and avoiding new credit inquiries before you apply for an RV loan.

Make a larger down payment. A down payment of 20% or more signals lower risk to lenders and can unlock better rate tiers. It also reduces the loan-to-value (LTV) ratio, which is a key factor in RV loan underwriting. A larger down payment also protects you from being “upside down” on your loan, where you owe more than the RV is worth due to depreciation.

Shop multiple lenders. Do not accept the first offer you receive, especially from the dealership. Get pre-approved from at least two or three sources, including your local credit union, an online RV lender, and a bank. Credit unions, in particular, often offer RV loan rates that are 1% to 2% lower than banks or dealer financing.

Choose a shorter loan term. Although a 20-year RV loan keeps payments low, a 10- or 12-year term typically comes with a rate that is 0.5% to 1.5% lower. Use the calculator above to compare how different term lengths affect both your monthly payment and total interest cost.

New vs. Used RV Financing

The decision between buying a new or used RV has a significant impact on your financing options, interest rate, and total cost of ownership. Each path has its own advantages and trade-offs.

New RV financing typically offers the lowest interest rates, the longest available loan terms, and access to manufacturer incentive programs. Many RV dealers partner with captive lenders who offer promotional rates, sometimes as low as 3.99% to 5.99% APR for well-qualified buyers. New RVs also come with full manufacturer warranties, which reduces the financial risk if something goes wrong in the first few years. However, new RVs depreciate rapidly. According to industry data, a new RV can lose 20% to 30% of its value in the first year alone and up to 50% within five years.

Used RV financing usually comes with higher interest rates and shorter maximum loan terms. Many lenders cap used RV loans at 10 to 15 years, compared to 20 years for new units. The higher rate reflects the increased risk associated with older vehicles, including potential mechanical issues and lower resale value. However, the purchase price is significantly lower, which means a smaller loan amount and potentially lower total interest paid despite the higher rate. A three-year-old used RV might cost 30% to 40% less than the same model new, with most of the steep depreciation already behind it.

When evaluating new versus used, use this calculator to model both scenarios. Enter the new RV price with a lower rate and longer term, then compare it against the used RV price with a higher rate and shorter term. The total cost comparison often reveals that used RVs are the better financial decision, even with less favorable loan terms.

RV Loan Calculator: How to Use It

Our free RV loan calculator is designed to give you a complete picture of what your RV purchase will actually cost. Here is a step-by-step guide to using it effectively:

Step 1: Enter the RV price. This is the sticker price or negotiated purchase price of the recreational vehicle. If you are still browsing, try entering the price range you are considering to understand what you can afford.

Step 2: Enter your down payment. This is the amount of cash you plan to put toward the purchase upfront. A larger down payment reduces your loan amount and typically qualifies you for a better interest rate.

Step 3: Add your trade-in value. If you are trading in an existing vehicle or RV, enter its estimated value here. The trade-in amount is subtracted from the purchase price before calculating your loan.

Step 4: Set the sales tax rate. Enter your state's sales tax rate. Some states exempt RV purchases from sales tax, while others charge the full rate. The calculator adds the tax to the loan amount since most buyers finance the sales tax as part of their loan.

Step 5: Enter the interest rate. Use the rate from your pre-approval letter or an estimate based on your credit score. If you are unsure, 7% to 9% is a reasonable starting point for borrowers with good credit.

Step 6: Choose the loan term. Select the number of years for your loan. Try multiple term lengths to see how they affect your monthly payment and total interest. The results update instantly, so you can compare scenarios in seconds.

The calculator instantly displays your estimated monthly payment, total interest cost, and total amount paid. Scroll down to view the full amortization schedule, which shows the principal and interest breakdown for every single payment over the life of the loan. If you want to explore how paying off a loan faster can save money, try our loan payoff calculator.

Hidden Costs of RV Ownership

The monthly loan payment is only part of the true cost of owning an RV. Before committing to a purchase, make sure you budget for these often-overlooked expenses:

Insurance. RV insurance costs vary widely depending on the type and value of the RV, your driving record, and the coverage level you choose. Full-time RV insurance can cost $1,500 to $3,000 per year or more for a Class A motorhome, while a towable travel trailer might cost $500 to $1,200 per year. Get insurance quotes before you finalize your purchase to avoid surprises.

Maintenance and repairs. RVs have complex mechanical, electrical, and plumbing systems that require regular maintenance. Budget $1,000 to $3,000 per year for routine maintenance, and set aside an emergency fund for unexpected repairs. Major repairs, such as a roof replacement or engine work, can cost $5,000 to $15,000.

Storage. If you do not have space to park your RV at home, you will need to pay for storage. Indoor storage can cost $150 to $450 per month depending on your location, while outdoor lots typically charge $50 to $150 per month. Some campgrounds offer long-term storage options at competitive rates.

Fuel. Motorhomes get 6 to 18 miles per gallon depending on the class and size. If you plan to travel frequently, fuel costs can add up quickly. Even if you tow a travel trailer with a truck, expect fuel economy to drop significantly compared to driving the truck unloaded.

Campground fees and registration. Campground fees range from $20 to $80 per night for standard sites, with premium spots in popular areas costing more. Annual registration fees vary by state and can range from $50 to $500 or more for larger motorhomes. Be sure to factor in these recurring costs when deciding what you can truly afford.

Understanding the full cost of RV ownership helps you make a more informed purchasing decision. Use our calculator to determine a comfortable monthly loan payment, then add estimated ownership costs to get your true monthly budget. For a broader view of how different loan types compare, explore our auto loan payoff calculator or motorcycle loan calculator.