RV Loan Calculator

How RV Loans Work

An RV loan is a secured installment loan where the recreational vehicle serves as collateral. You borrow the purchase price minus your down payment, repay it with interest over a fixed term, and make equal monthly payments throughout. The math is straightforward: your payment is determined by the principal, the annual interest rate divided into monthly periods, and the total number of months.

Using our default example — a $75,000 RV with $15,000 down at 7.99% for 15 years:

• Loan principal: $60,000
• Monthly payment: approximately $574
• Total paid over 15 years: $103,248
• Total interest: $43,248 — 72% of the original loan amount

That 72% interest figure is why the loan term decision matters so much. At 10 years instead of 15, the same loan costs $731/month but only $27,732 in total interest — saving $15,516 at the cost of $157 more per month. Every extra year you add to an RV loan compounds the interest cost significantly.

RV Loan Rates in 2025: What You Should Know

RV loan interest rates typically run higher than mortgage rates but are similar to or slightly above auto loan rates. As of 2025, expect rates in the 6.5%–12% range depending on credit profile, loan size, RV type, and lender.

Key rate drivers:

• Credit score: The biggest factor. 760+ earns top tier rates. Below 680, expect significantly higher rates or limited lender options.
• Loan amount: Larger loans ($50K+) typically get better rates than smaller ones. Lenders earn more interest revenue on larger balances, so they compete harder for that business.
• RV type: New Class A motorhomes often get better rates than older towables. Lenders see newer vehicles as lower default risk due to better resale value.
• Loan term: Shorter terms (5–10 years) often carry lower rates than 15–20 year terms. Longer terms increase lender risk.
• Down payment: 20% down often qualifies for meaningfully better rates than 10% down. It also prevents you from being underwater on a depreciating asset.

Specialty RV lenders — including Good Sam Finance, Southeast Financial, and USAA for members — often offer more competitive rates than general banks. Get quotes from at least 3 lenders, including your bank or credit union, before committing.

RV Loan Terms: Matching the Term to the RV

RV loan terms can extend much longer than auto loans, reflecting the high purchase prices involved:

• Under $25,000: Typically 5–10 years
• $25,000–$75,000: Usually 10–15 years
• $75,000–$150,000: Often 15–20 years
• Over $150,000: May extend to 20 years for Class A diesel pushers and high-end fifth wheels

The 20-year RV loan makes the monthly payment manageable but dramatically increases total interest. On a $100,000 RV loan at 8%:

• 10-year term: $1,213/month | $45,593 total interest
• 15-year term: $956/month | $72,038 total interest
• 20-year term: $837/month | $100,829 total interest

The 20-year loan costs more in total interest than the original loan amount. Most financial advisors recommend a maximum of 10–12 years for RV financing, accepting a higher monthly payment in exchange for substantially less total cost.

True Cost of RV Ownership: Budgeting Beyond the Payment

Your monthly loan payment is one piece of a larger ownership cost picture. Before financing, budget for these ongoing expenses:

Insurance: RV insurance runs $1,000–$3,000/year for full-timers, $500–$1,500 for part-timers. Class A motorhomes and larger fifth wheels cost more to insure. Full-timer policies that include liability as a primary residence are specialized and pricier.

Campground fees: KOA and commercial sites run $40–$80/night. State and national park sites are cheaper ($20–$40) but require booking well in advance. Full-time RVers in desirable areas often pay $700–$1,500/month for long-term site rentals.

Fuel: A Class A diesel pusher gets 6–10 MPG. A 500-mile trip costs 55–80 gallons — at $4/gallon diesel, that's $220–$320 per road trip. Fuel is often the largest variable cost for active RV users.

Maintenance and repairs: Budget 1.5–2% of the RV's value annually. Slide-outs, roof seams, generator servicing, and chassis maintenance add up. A $75,000 RV should have a $1,125–$1,500/year maintenance reserve, plus a separate emergency fund for major repairs ($5,000–$15,000 for engine or slide issues).

Depreciation: RVs depreciate 20–25% in the first year, then 5–10% annually after that. This isn't a cash cost, but it affects your net worth and your ability to sell or trade without going underwater on the loan.

Can an RV Qualify as a Second Home?

Potentially — and if it does, the tax implications are significant. The IRS allows RV loan interest to be deducted as mortgage interest on a second home if the RV qualifies as a "qualified residence." The requirements: the RV must have sleeping, cooking, and bathroom facilities. Most Class A motorhomes and well-equipped fifth wheels meet this standard.

If your RV qualifies, interest on loans up to $750,000 (combined for primary and second home) may be deductible. On a $60,000 RV loan at 8%, you pay roughly $4,800/year in interest — which could reduce your taxable income meaningfully if you itemize deductions.

This deduction is not available if you take the standard deduction (which most taxpayers do). Consult a tax professional before making purchasing decisions based on potential deductibility.

New vs. Used RV Financing: Making the Right Call

The new vs. used RV decision involves financing considerations beyond just the sticker price:

New RVs: Dealers often run 0% or low promotional rates (4–6%) through manufacturer lenders, especially at RV shows. The drawback is steep initial depreciation — a new $75,000 RV may be worth $55,000–$60,000 after one year. Warranty coverage offsets repair risks in the early years.

Used RVs: Rates are typically 1–2% higher than new, and terms may be shorter, especially on units over 10 years old. An independent inspection from a certified RV technician ($150–$300) is strongly recommended before financing a used unit. Lenders may also require a certified appraisal for older high-value RVs.

The sweet spot: Many experienced RVers recommend buying a 2–4 year old unit with low mileage. You avoid the steepest depreciation while still getting relatively modern features. Rates are only slightly higher than new, and you're not financing a rapidly depreciating asset off the dealer lot.

Frequently Asked Questions

What credit score do I need for an RV loan?

Most lenders require a minimum score of 640–660 to qualify for an RV loan. For competitive rates, you'll want 700+, and the best rates typically require 720–740+. If your score is below 640, consider working to improve it for 6–12 months before applying — the rate savings on a 15-year loan can easily exceed $10,000.

How much should I put down on an RV?

A down payment of 10–20% is typical, with 20% strongly recommended. A larger down payment keeps you from going underwater on a depreciating asset, reduces your monthly payment, and often improves your interest rate. If you're purchasing a $75,000 RV with 10% down versus 20% down, the difference in total interest over 15 years can exceed $5,000.

Can I get an RV loan with bad credit?

It's difficult but not impossible. Some specialty lenders work with scores as low as 580–620, but at significantly higher rates (10–15%+). At those rates, financing a $50,000 RV over 10 years could cost $25,000–$35,000 in interest. You'd be better served by saving a larger down payment, improving your credit, and then financing — or buying a less expensive RV for cash.

Are RV loans different from auto loans?

Similar, but with some differences. RV loans can extend to 20 years (much longer than the typical 6-year auto loan), loan amounts can be much larger, and the underwriting process is sometimes more complex. Some lenders require income documentation and a debt-to-income review similar to a mortgage application. The RV itself always serves as collateral.

Can I rent out my RV to offset the loan cost?

Yes — platforms like RVshare and Outdoorsy allow RV owners to list their vehicles for rent when not in use. Renting your RV for 15–20 weeks per year can generate $8,000–$20,000+ annually depending on the RV type, location, and demand. This can meaningfully offset your loan payment, insurance, and storage costs. Note: income is taxable, and your insurance must cover rental use — standard policies typically don't.