Calculate your payments for Motorhomes, Campers, and Travel Trailers
5 Years (60 Months)
10 Years (120 Months)
12 Years (144 Months)
15 Years (180 Months)
20 Years (240 Months)
Estimated Monthly Payment$0.00
Total Loan Amount: $0Total Interest: $0Total Tax: $0
Understanding RV Loans and Financing
Purchasing a Recreational Vehicle is a major lifestyle investment. Unlike standard automobile loans, RV financing often mirrors mortgage structures because RVs are frequently classified as luxury items or secondary residences. This calculator helps you determine the monthly cost of your home on wheels, factoring in the unique variables of the RV market.
Key Factors in RV Financing
Loan Terms: While cars are usually financed for 5-7 years, RV loans can extend up to 15 or 20 years for larger Class A motorhomes or high-end fifth wheels.
Interest Rates: Rates for RVs are typically higher than auto loans because they are considered discretionary travel vehicles.
Down Payments: Most lenders require 10% to 20% down. A larger down payment can help you avoid being "upside down" on the loan as the RV depreciates.
Sales Tax: Remember that sales tax is calculated on the purchase price and is often rolled into the total loan amount.
Realistic Example: Financing a Travel Trailer
Imagine you are purchasing a new travel trailer priced at $45,000.
If you have a $5,000 down payment, a 6% sales tax rate, and secure an 8% interest rate for a 10-year term:
Initial Price + Tax: $47,700
Total Loan Amount: $42,700
Monthly Payment: $518.07
Total Interest Paid: $19,468.40
Pro Tip: Many RV owners can deduct the interest paid on their RV loan as a second home mortgage interest deduction, provided the RV has basic sleeping, cooking, and toilet facilities. Consult with a tax professional to see if your rig qualifies.
function calculateRVLoan() {
// Get values from inputs
var price = parseFloat(document.getElementById("rv_price").value) || 0;
var downPayment = parseFloat(document.getElementById("down_payment").value) || 0;
var tradeIn = parseFloat(document.getElementById("trade_in").value) || 0;
var annualRate = parseFloat(document.getElementById("interest_rate").value) || 0;
var years = parseInt(document.getElementById("loan_term").value) || 0;
var taxPercent = parseFloat(document.getElementById("sales_tax").value) || 0;
// Validation
if (price <= 0) {
alert("Please enter a valid RV price.");
return;
}
// Calculations
var salesTaxAmount = price * (taxPercent / 100);
var totalPriceWithTax = price + salesTaxAmount;
var loanAmount = totalPriceWithTax – downPayment – tradeIn;
if (loanAmount 0) {
var x = Math.pow(1 + monthlyRate, totalMonths);
monthlyPayment = (loanAmount * x * monthlyRate) / (x – 1);
} else {
monthlyPayment = loanAmount / totalMonths;
}
var totalPaid = monthlyPayment * totalMonths;
var totalInterest = totalPaid – loanAmount;
// Display Results
document.getElementById("monthly_payment_out").innerHTML = "$" + monthlyPayment.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById("total_loan_out").innerHTML = "$" + loanAmount.toLocaleString(undefined, {maximumFractionDigits: 0});
document.getElementById("total_interest_out").innerHTML = "$" + totalInterest.toLocaleString(undefined, {maximumFractionDigits: 0});
document.getElementById("total_tax_out").innerHTML = "$" + salesTaxAmount.toLocaleString(undefined, {maximumFractionDigits: 0});
document.getElementById("result_area").style.display = "block";
// Smooth scroll to result
document.getElementById("result_area").scrollIntoView({ behavior: 'smooth', block: 'nearest' });
}