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RV Loan Calculator

5 Years 10 Years 12 Years 15 Years 20 Years
Monthly Payment: $0.00
Total Loan Amount: $0.00
Total Interest Paid: $0.00
Total Cost (Price + Interest): $0.00
function calculateRVLoan() { var price = parseFloat(document.getElementById('rvPrice').value); var down = parseFloat(document.getElementById('downPayment').value); var annualRate = parseFloat(document.getElementById('interestRate').value); var years = parseInt(document.getElementById('loanTerm').value); if (isNaN(price) || isNaN(down) || isNaN(annualRate) || price <= 0) { alert("Please enter valid numbers for price and rate."); return; } var principal = price – down; if (principal <= 0) { alert("Down payment cannot exceed or equal the purchase price."); return; } var monthlyRate = (annualRate / 100) / 12; var numberOfPayments = years * 12; var monthlyPayment; if (monthlyRate === 0) { monthlyPayment = principal / numberOfPayments; } else { monthlyPayment = (principal * monthlyRate * Math.pow(1 + monthlyRate, numberOfPayments)) / (Math.pow(1 + monthlyRate, numberOfPayments) – 1); } var totalCostOfLoan = monthlyPayment * numberOfPayments; var totalInterestPaid = totalCostOfLoan – principal; var totalPurchaseCost = totalCostOfLoan + down; document.getElementById('monthlyPayment').innerText = '$' + monthlyPayment.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('totalLoanAmount').innerText = '$' + principal.toLocaleString(); document.getElementById('totalInterest').innerText = '$' + totalInterestPaid.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('totalCost').innerText = '$' + totalPurchaseCost.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('calcResult').style.display = 'block'; }

How Does an RV Loan Work?

Purchasing a recreational vehicle (RV) is a significant investment, often treated similarly to a mortgage or a long-term auto loan. Unlike standard car loans that usually cap at 5 to 7 years, RV loans can extend up to 20 years because of the higher price points and the "home-like" nature of the vehicle.

Key Factors in Your RV Payment

  • Purchase Price: Whether it's a Class A Diesel Pusher or a compact teardrop trailer, the sticker price is your starting point.
  • Down Payment: Lenders typically require 10% to 20% down. A larger down payment reduces your monthly obligation and interest over time.
  • Interest Rates: RV loan rates are generally higher than primary mortgage rates but lower than personal loans, depending on your credit score.
  • Loan Term: Longer terms (15-20 years) result in lower monthly payments but significantly higher total interest paid over the life of the loan.

Example Calculation

If you purchase a Travel Trailer for $50,000 with a $10,000 down payment at a 7% interest rate for 10 years:

  • Principal: $40,000
  • Monthly Payment: ~$464.43
  • Total Interest Paid: ~$15,732.18
  • Total Cost: $65,732.18

Taxes and Insurance

Remember that this calculator focuses on the loan principal and interest. When budgeting for your nomadic lifestyle, don't forget to account for sales tax, registration fees, RV insurance (which is more expensive than standard car insurance), and routine maintenance costs.

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