RV Loan Calculator
Calculate monthly payments and total costs for your recreational vehicle loan
Loan Details
Loan Summary
Monthly Payment$348.44
Principal and interest only
Total of Payments$62,719.73
Total amount you will pay over the loan term
Total Interest$22,719.73
Total interest paid over loan term
Understanding RV Loans
An RV loan is a specialized vehicle loan designed for purchasing recreational vehicles. These loans often have different terms and considerations compared to standard auto loans due to the higher costs and longer useful life of RVs.
Key Features
- • Longer loan terms (up to 20 years)
- • Higher loan amounts
- • Potentially tax-deductible interest
- • Different down payment requirements
- • Specialized insurance needs
Loan Types
- • Fixed-rate loans
- • Variable-rate loans
- • Secured loans
- • Unsecured loans
- • Home equity options
RV Loan Considerations
Down Payment
- • Typically 10-20% required
- • Larger down = lower payments
- • Affects interest rates
- • Reduces depreciation impact
- • May affect loan approval
Additional Costs
- • Insurance premiums
- • Maintenance expenses
- • Storage fees
- • Campground costs
- • Fuel expenses
Loan Terms
- • Interest rate options
- • Repayment flexibility
- • Prepayment penalties
- • Term length impact
- • Credit requirements
Tips for RV Financing
Before Applying
- • Check your credit score
- • Research current rates
- • Compare multiple lenders
- • Consider total ownership costs
- • Understand loan terms
- • Calculate affordable payment
Smart Borrowing
- • Choose appropriate loan term
- • Make larger down payment
- • Consider seasonal use
- • Plan for depreciation
- • Include insurance costs
- • Budget for maintenance