RV Loan Calculator

You can use our RV loan calculator if you’ve been thinking about purchasing a recreational vehicle. The RV calculator can help you determine an estimated monthly payment before you buy a new or used RV.

How to use our RV loan calculator

To find your estimated monthly payment using our RV loan calculator, enter how much you want to borrow — and for how long — as well as your expected interest rate. Consider the payment total in the context of your monthly budget and see if it fits.

If you find that the RV loan payment is too high for you, change the loan amount and/or loan term. Remember that longer terms can lower your monthly payments, but they can also increase the total amount of interest paid over the life of the loan.

How do I know what RV loan APR I’ll receive?

Advertised annual percentage rates (APRs) for RV loans can fluctuate, though we’ve seen a general range between 4% and 8%. The better your credit, the lower your APR will probably be, but there are bad-credit RV loan options. Note that the APR on an RV loan includes interest and any applicable fees. If you have an APR rather than an interest rate, plug it in the RV loan calculator for a more accurate payment estimate.

Where can I get an RV loan?

Dealership partners and major lenders, such as national banks and credit unions, often offer RV loans — which typically range from four to 20 years. Shopping around as you look to finance an RV could save you money in interest.

Here are some in-depth reviews on two popular lenders:

 
Apply to a few lenders and then choose your best offer. It doesn’t hurt your credit to apply to multiple lenders any more than it does to apply to one as long as you submit the applications within a 14-day window.


Types of RV's

When you picture an RV, do you imagine a tiny, teardrop trailer you can tow behind a car or do you imagine a giant motor home? RVs cover a lot of styles and capabilities. Here are some of the basics.

New vs. used RVs

That new RV smell is almost as good as the one in a new car. But, similar to a car, you face some steep depreciation on a new RV. You could save a lot of money by getting a used RV, yet the trade-off is you might need to pay for repairs sooner and out of pocket. If you’re debating, here are the differences between new and used RV loans.

Motor homes

Motor homes are RVs that you can drive. Motor home financing tends to be more expensive since you’re borrowing more money for longer. There are three types of motor homes:

Class A: These RVs are usually the biggest — typically 30 to 40 feet long — most expensive and most luxurious.
Typical starting price: Around $60,000

Class B: Also known as “camper vans,” Class B RVs can have everything you want in a tiny package, as they are often passenger or cargo vans outfitted as an RV.
Typical starting price: Around $40,000

Class C: Typically built on the frame of a truck, Class C motor homes can offer a midpoint in both space and price between Class A and Class B RVs while still offering towing power.
Typical starting price: Around $50,000

Towable RVs

These are RVs that you tow behind another vehicle. They tend to be less expensive than motor homes because they don’t have an engine. You can also park them and use your regular vehicle as normal. Here are the types of towable RVs:

  • Fifth-wheel trailers: Often large and luxurious, these RVs need to be towed by a pickup truck with a special hookup. The “fifth wheel” is a gooseneck hitch that extends from the front of the RV trailer over the tailgate to connect to a hitching mechanism in the bed of the pickup.
  • Travel trailers: These can be towed by many types of vehicles, offering versatility. They connect to a hitch under the bumper of a towing vehicle and can be anything from a teardrop trailer with interior room only big enough for one person to sleep to a 40-foot-long trailer complete with a granite kitchen and room to sleep six.
  • Campers: On the lower end of the scale, campers can be pop-up trailers to RVs that are made to slide into and fit the bed of a pickup. They’re usually less expensive, so camper financing might be possible with a personal loan if it doesn’t meet the requirements of an RV loan, such as minimum amount financed.

Toy haulers

This RV type can fit a motorcycle, ATV, Jet Ski or other powersport vehicles. Due to the added weight, toy hauler RVs tend to be either Class A motor homes or fifth-wheel trailers.

Check out our guide on the cost of owning an RV for more details.

Getting an RV loan: What’s next?

After you pick out your RV based on your budget, do some comparison shopping for RV loans. While RV dealers usually have a lender network, dealers typically only present loan options to you that will benefit the dealer. But to use the dealer’s lender network to your advantage, get a couple of RV loan offers from lenders and then ask the dealer to beat the best rate.

You could fill out an online form at LendingTree and get up to five RV loan offers from lenders depending on your creditworthiness.


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