Plan your next adventure by estimating your motorhome or travel trailer payments.
5 Years
10 Years
12 Years
15 Years
20 Years
Monthly Payment$0.00
Total Interest$0.00
Total Cost of Loan$0.00
function calculateRVPayment() {
var price = parseFloat(document.getElementById("rvPrice").value);
var downPayment = parseFloat(document.getElementById("rvDownPayment").value);
var interestRate = parseFloat(document.getElementById("rvInterest").value);
var termYears = parseInt(document.getElementById("rvTerm").value);
if (isNaN(price) || isNaN(downPayment) || isNaN(interestRate) || price <= 0) {
alert("Please enter valid positive numbers for all fields.");
return;
}
var principal = price – downPayment;
if (principal <= 0) {
document.getElementById("monthlyPaymentResult").innerHTML = "$0.00";
document.getElementById("totalInterestResult").innerHTML = "$0.00";
document.getElementById("totalCostResult").innerHTML = "$0.00";
document.getElementById("rvResults").style.display = "block";
return;
}
var monthlyRate = (interestRate / 100) / 12;
var numberOfPayments = termYears * 12;
var monthlyPayment = (principal * monthlyRate * Math.pow(1 + monthlyRate, numberOfPayments)) / (Math.pow(1 + monthlyRate, numberOfPayments) – 1);
// Handle edge case for 0% interest
if (interestRate === 0) {
monthlyPayment = principal / numberOfPayments;
}
var totalCost = monthlyPayment * numberOfPayments;
var totalInterest = totalCost – principal;
document.getElementById("monthlyPaymentResult").innerHTML = "$" + monthlyPayment.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById("totalInterestResult").innerHTML = "$" + totalInterest.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById("totalCostResult").innerHTML = "$" + (totalCost + downPayment).toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById("rvResults").style.display = "block";
}
Understanding RV Financing and Loans
Purchasing a recreational vehicle is a significant lifestyle investment. Unlike standard car loans, RV loans often function more like home mortgages, offering longer repayment terms ranging from 10 to 20 years. This calculator helps you break down the monthly cost of ownership so you can hit the road with financial confidence.
Key Factors in Your RV Loan Calculation
Loan Term: While cars are usually financed for 5-7 years, luxury motorhomes can be financed for up to 240 months (20 years) to keep payments manageable.
Interest Rates: Rates vary based on whether the RV is new or used, and whether it is a Class A motorhome or a towable travel trailer.
Down Payment: Most lenders require 10% to 20% down. A larger down payment reduces your monthly obligation and the total interest paid.
Example Calculation
If you purchase a Class C motorhome for $85,000 with a $15,000 down payment at a 6.5% interest rate over a 12-year term:
Loan Amount: $70,000
Estimated Monthly Payment: $701.32
Total Interest Paid: $31,030.08
Total Price Paid: $116,030.08 (including down payment)
Tips for Better RV Loan Rates
To secure the best financing terms, ensure your credit score is in the "Excellent" range (740+). Additionally, consider the "Full-Timer" status; some lenders charge higher rates if the RV will be your primary residence. Always factor in insurance, maintenance, and storage fees into your monthly budget beyond just the loan payment.