Estimate your monthly payments for your next motorhome, travel trailer, or fifth wheel.
Your RV Loan Estimate
Monthly Payment:$0.00
Total Loan Amount:$0.00
Total Interest Paid:$0.00
Total Cost of RV:$0.00
How to Use This RV Loan Calculator
Buying an RV is a significant investment, often comparable to buying a second home. Unlike traditional auto loans, RV financing usually involves larger sums and longer repayment terms, sometimes extending up to 20 years. This RV loan calculator helps you understand the long-term financial commitment by breaking down your monthly costs based on interest rates, taxes, and down payments.
Factors Impacting Your RV Loan Payments
Loan Term: While a 15 or 20-year term lowers your monthly payment, it significantly increases the total interest you will pay over the life of the loan.
Down Payment: Lenders typically look for 10% to 20% down. A higher down payment can often secure you a lower interest rate.
RV Type: New motorhomes often qualify for better rates than used units or specialized trailers.
Sales Tax: Most states charge sales tax on the net purchase price (Price minus Trade-in). This calculator automatically factors that into your total loan amount.
Example Calculation
If you purchase a Class A Motorhome for $120,000 with a $20,000 down payment and a $10,000 trade-in, your taxable amount is $110,000. With a 6% sales tax, your total loan principal would be approximately $96,600. At a 7% interest rate over 15 years, your monthly payment would be roughly $868.27.
Is RV Interest Tax Deductible?
In many cases, yes! If your RV has basic sleeping, cooking, and toilet facilities, the IRS may categorize it as a second home. This means you might be able to deduct the interest paid on your RV loan from your federal income taxes. Always consult with a tax professional to see if your specific vehicle and loan qualify.
function calculateRVLoan() {
var price = parseFloat(document.getElementById("rvPrice").value) || 0;
var downPayment = parseFloat(document.getElementById("downPayment").value) || 0;
var tradeIn = parseFloat(document.getElementById("tradeIn").value) || 0;
var annualRate = parseFloat(document.getElementById("interestRate").value) || 0;
var years = parseFloat(document.getElementById("loanTerm").value) || 0;
var taxRate = parseFloat(document.getElementById("salesTax").value) || 0;
// Sales tax is usually calculated on (Price – Trade In)
var taxableAmount = price – tradeIn;
var taxTotal = taxableAmount * (taxRate / 100);
// Loan Amount = Price – Down Payment – Trade In + Tax
var principal = price – downPayment – tradeIn + taxTotal;
if (principal 0 && years > 0) {
var monthlyRate = annualRate / 100 / 12;
var numberOfPayments = years * 12;
// Monthly Payment formula: P * [r(1+r)^n] / [(1+r)^n – 1]
var x = Math.pow(1 + monthlyRate, numberOfPayments);
var monthlyPayment = (principal * x * monthlyRate) / (x – 1);
var totalCost = (monthlyPayment * numberOfPayments) + downPayment + tradeIn;
var totalInterest = (monthlyPayment * numberOfPayments) – principal;
document.getElementById("monthlyPaymentDisplay").innerText = "$" + monthlyPayment.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById("totalLoanDisplay").innerText = "$" + principal.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById("totalInterestDisplay").innerText = "$" + totalInterest.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById("totalCostDisplay").innerText = "$" + totalCost.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
} else if (years > 0 && annualRate === 0) {
// 0% Interest Case
var monthlyPaymentNoInt = principal / (years * 12);
document.getElementById("monthlyPaymentDisplay").innerText = "$" + monthlyPaymentNoInt.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById("totalLoanDisplay").innerText = "$" + principal.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById("totalInterestDisplay").innerText = "$0.00";
document.getElementById("totalCostDisplay").innerText = "$" + (principal + downPayment + tradeIn).toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
}
document.getElementById("rvResults").style.display = "block";
}