RV Loan Calculator

Estimate your payment for an RV, camper, or motorhome using the loan calculator below.

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Loan Summary:

Monthly Payment:
$168.64
Loan Amount:
$15,900.00
Total Interest:
$4,337.36
Total Payments:
$20,237.36
Payoff Date:
Jan 2033

Amortization Schedule:

Amortization schedule for a $15,900.00 loan with a 5% interest rate and a 120-month term.
DatePaymentPrincipalInterestRemaining Balance
Jan 2023$168.64$102.39$66.25$15,797.61
Feb 2023$168.64$102.82$65.82$15,694.79
Mar 2023$168.64$103.25$65.39$15,591.54
Apr 2023$168.64$103.68$64.96$15,487.86
May 2023$168.64$104.11$64.53$15,383.75
Jun 2023$168.64$104.54$64.10$15,279.21
Jul 2023$168.64$104.98$63.66$15,174.23
Aug 2023$168.64$105.41$63.23$15,068.82
Sep 2023$168.64$105.85$62.79$14,962.97
Oct 2023$168.64$106.29$62.35$14,856.68
Nov 2023$168.64$106.74$61.90$14,749.94
Dec 2023$168.64$107.18$61.46$14,642.76
Jan 2024$168.64$107.63$61.01$14,535.13
Feb 2024$168.64$108.08$60.56$14,427.05
Mar 2024$168.64$108.53$60.11$14,318.52
Apr 2024$168.64$108.98$59.66$14,209.54
May 2024$168.64$109.43$59.21$14,100.11
Jun 2024$168.64$109.89$58.75$13,990.22
Jul 2024$168.64$110.35$58.29$13,879.87
Aug 2024$168.64$110.81$57.83$13,769.06
Sep 2024$168.64$111.27$57.37$13,657.79
Oct 2024$168.64$111.73$56.91$13,546.06
Nov 2024$168.64$112.20$56.44$13,433.86
Dec 2024$168.64$112.67$55.97$13,321.19
Jan 2025$168.64$113.14$55.50$13,208.05
Feb 2025$168.64$113.61$55.03$13,094.44
Mar 2025$168.64$114.08$54.56$12,980.36
Apr 2025$168.64$114.56$54.08$12,865.80
May 2025$168.64$115.03$53.61$12,750.77
Jun 2025$168.64$115.51$53.13$12,635.26
Jul 2025$168.64$115.99$52.65$12,519.27
Aug 2025$168.64$116.48$52.16$12,402.79
Sep 2025$168.64$116.96$51.68$12,285.83
Oct 2025$168.64$117.45$51.19$12,168.38
Nov 2025$168.64$117.94$50.70$12,050.44
Dec 2025$168.64$118.43$50.21$11,932.01
Jan 2026$168.64$118.92$49.72$11,813.09
Feb 2026$168.64$119.42$49.22$11,693.67
Mar 2026$168.64$119.92$48.72$11,573.75
Apr 2026$168.64$120.42$48.22$11,453.33
May 2026$168.64$120.92$47.72$11,332.41
Jun 2026$168.64$121.42$47.22$11,210.99
Jul 2026$168.64$121.93$46.71$11,089.06
Aug 2026$168.64$122.44$46.20$10,966.62
Sep 2026$168.64$122.95$45.69$10,843.67
Oct 2026$168.64$123.46$45.18$10,720.21
Nov 2026$168.64$123.97$44.67$10,596.24
Dec 2026$168.64$124.49$44.15$10,471.75
Jan 2027$168.64$125.01$43.63$10,346.74
Feb 2027$168.64$125.53$43.11$10,221.21
Mar 2027$168.64$126.05$42.59$10,095.16
Apr 2027$168.64$126.58$42.06$9,968.58
May 2027$168.64$127.10$41.54$9,841.48
Jun 2027$168.64$127.63$41.01$9,713.85
Jul 2027$168.64$128.17$40.47$9,585.68
Aug 2027$168.64$128.70$39.94$9,456.98
Sep 2027$168.64$129.24$39.40$9,327.74
Oct 2027$168.64$129.77$38.87$9,197.97
Nov 2027$168.64$130.32$38.32$9,067.65
Dec 2027$168.64$130.86$37.78$8,936.79
Jan 2028$168.64$131.40$37.24$8,805.39
Feb 2028$168.64$131.95$36.69$8,673.44
Mar 2028$168.64$132.50$36.14$8,540.94
Apr 2028$168.64$133.05$35.59$8,407.89
May 2028$168.64$133.61$35.03$8,274.28
Jun 2028$168.64$134.16$34.48$8,140.12
Jul 2028$168.64$134.72$33.92$8,005.40
Aug 2028$168.64$135.28$33.36$7,870.12
Sep 2028$168.64$135.85$32.79$7,734.27
Oct 2028$168.64$136.41$32.23$7,597.86
Nov 2028$168.64$136.98$31.66$7,460.88
Dec 2028$168.64$137.55$31.09$7,323.33
Jan 2029$168.64$138.13$30.51$7,185.20
Feb 2029$168.64$138.70$29.94$7,046.50
Mar 2029$168.64$139.28$29.36$6,907.22
Apr 2029$168.64$139.86$28.78$6,767.36
May 2029$168.64$140.44$28.20$6,626.92
Jun 2029$168.64$141.03$27.61$6,485.89
Jul 2029$168.64$141.62$27.02$6,344.27
Aug 2029$168.64$142.21$26.43$6,202.06
Sep 2029$168.64$142.80$25.84$6,059.26
Oct 2029$168.64$143.39$25.25$5,915.87
Nov 2029$168.64$143.99$24.65$5,771.88
Dec 2029$168.64$144.59$24.05$5,627.29
Jan 2030$168.64$145.19$23.45$5,482.10
Feb 2030$168.64$145.80$22.84$5,336.30
Mar 2030$168.64$146.41$22.23$5,189.89
Apr 2030$168.64$147.02$21.62$5,042.87
May 2030$168.64$147.63$21.01$4,895.24
Jun 2030$168.64$148.24$20.40$4,747.00
Jul 2030$168.64$148.86$19.78$4,598.14
Aug 2030$168.64$149.48$19.16$4,448.66
Sep 2030$168.64$150.10$18.54$4,298.56
Oct 2030$168.64$150.73$17.91$4,147.83
Nov 2030$168.64$151.36$17.28$3,996.47
Dec 2030$168.64$151.99$16.65$3,844.48
Jan 2031$168.64$152.62$16.02$3,691.86
Feb 2031$168.64$153.26$15.38$3,538.60
Mar 2031$168.64$153.90$14.74$3,384.70
Apr 2031$168.64$154.54$14.10$3,230.16
May 2031$168.64$155.18$13.46$3,074.98
Jun 2031$168.64$155.83$12.81$2,919.15
Jul 2031$168.64$156.48$12.16$2,762.67
Aug 2031$168.64$157.13$11.51$2,605.54
Sep 2031$168.64$157.78$10.86$2,447.76
Oct 2031$168.64$158.44$10.20$2,289.32
Nov 2031$168.64$159.10$9.54$2,130.22
Dec 2031$168.64$159.76$8.88$1,970.46
Jan 2032$168.64$160.43$8.21$1,810.03
Feb 2032$168.64$161.10$7.54$1,648.93
Mar 2032$168.64$161.77$6.87$1,487.16
Apr 2032$168.64$162.44$6.20$1,324.72
May 2032$168.64$163.12$5.52$1,161.60
Jun 2032$168.64$163.80$4.84$997.80
Jul 2032$168.64$164.48$4.16$833.32
Aug 2032$168.64$165.17$3.47$668.15
Sep 2032$168.64$165.86$2.78$502.29
Oct 2032$168.64$166.55$2.09$335.74
Nov 2032$168.64$167.24$1.40$168.50
Dec 2032$169.20$168.50$0.70$0.00
This calculation is based on widely-accepted formulas for educational purposes only - this is not a recommendation for how to handle your finances, and it is not an offer to lend. Consult with a financial professional before making financial decisions.
Learn how we calculated this below


On this page:


How to Calculate an RV Loan Payment

An RV loan is a highly specific type of loan that individuals use to purchase an RV. An RV is an expensive purchase, so this type of loan allows you to purchase an RV while not paying the full amount in cash upfront to purchase it outright.

The monthly payment on RV loans can be calculated the same way as other types of amortized loans, such as auto loans or home mortgages.

Unlike a typical car lease, an RV loan is a loan for the entire cost of the vehicle or trailer, which is paid back in full to the bank with interest.

Amortized loans are accompanied by an amortization schedule, which shows what portion of each monthly payment goes toward principal, what portion goes to interest, and the remaining balance each month.

To calculate the monthly payment for a camper or motorhome loan, you’ll need to use a formula.

Loan Payment Formula

The loan payment formula for an RV loan can be found here:

PMT = \frac{r \times PV \times (1 + t)}{1 − \left (1 + r \right )^{−n}}

Where:
PMT = payment
PV = remaining principal
r = periodic interest rate
n = number of payments
t = sales tax rate

For example, let’s say you plan on taking out an RV loan for $18,000 at 6% interest for 6 years. The sales tax on the RV will be 7%.

If you input these amounts into the calculator above, you’d get a monthly payment of $319.19. The total interest is $3,722.02 (you can use a loan interest calculator to find this).

We can now put the numbers into the formula to confirm. Before we do, we need to alter the numbers so they can work with the formula. The interest rate needs to be a monthly interest rate, so we would use 0.5% (6%/12).

The number of payments will be 72, since we plan on making a payment each month for 6 years.

PMT = \frac{0.5\% \times \$18,000 \times 1.07}{1 − \left (1 + 0.5\% \right )^{−72}}
PMT = \frac{\$96.30}{1 − \left (1.005 \right )^{−72}}
PMT = \frac{\$96.30}{1 − 0.6983}
PMT = \frac{\$96.30}{0.3017}
PMT = \$319.19

Increasing Payments to Reduce Interest

You can also pay extra each month to reduce the amount of time it takes to pay back the loan. You can use a loan payoff calculator to estimate how much sooner a loan can be paid off if a higher payment is made each month.

For example, let’s say you wanted to pay $400 per month instead of $319.19. The loan pay-off date would be reduced from 6 years to 4 years and 8 months.

Total interest would also be reduced from $3,722.02 to $2,829.14. So, this would save both time and money.

Common RV Loan Terms

First, the lower the loan, the shorter the term will typically be. The higher the loan amount, the longer you’d be able to borrow the money. If the loan is below $25,000, then the maximum loan term is typically 10 years.

Any loan above $100,000 can usually receive up to a 20-year loan term. Fifteen years is the maximum term for a loan between $25,000 and $100,000.

Also, applications with a new RV can typically get a lower interest rate than an application with a used RV because there is typically less risk with a new RV because it will be in better shape than a used RV. The interest rate on a used RV can be lowered with a shorter loan term.

But, while the new RV loan can get a better interest rate, it loses value faster. Therefore, there is a higher chance the borrower is underwater on their loan.

How to Get the Best Camper or Motorhome Loan

The first step to getting the best camper or motorhome loan is to determine how much of a monthly payment you can afford. By using this RV Loan Calculator, you can see what the loan will need to be to reach this monthly payment.

Before you start, you’ll want to identify the maximum amount you want to borrow and the monthly payment you’re shooting for. Then you need to apply to multiple banks or credit unions to get approved. This will give you the best chance to get approval from at least one lender.

Once you have multiple offers for lending, you can begin negotiating.

For example, let’s say you get two loan approvals. Lender A will give you $23,000 at 8% interest.

Lender B offers $30,000 at 10% interest. You can then use the offer from Lender A and negotiate a better interest rate from Lender B by telling them you have a better interest rate with Lender A.

Lender B may then change their approval from 10% interest to 8% interest, and then you would be able to get the $25,000 loan at a better rate of 8% interest.

Alternatively, you could go to Lender A and ask for an additional $2,000 because you received a higher approval from a different lender. Or you could put the $2,000 down and go with Lender A.

Even if you’re unable to negotiate terms for a better loan, having multiple offers gives you a lot more options to choose from. This might also allow you to find a better loan than the default options offered by a dealer.