How this calculator works
RV loans run longer than car loans: lenders often offer 10 to 15 years, and up to 20 on larger motorhomes, usually with 10% to 20% down. The calculator adds sales tax to the price (most states tax the price after the trade-in), takes off the down payment and trade-in, and works out the monthly payment, the total interest and how a shorter term changes both.
- Sales tax = (price − trade-in) × tax rate.
- Amount financed = price + sales tax − down payment − trade-in.
- Monthly payment = financed × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r = APR ÷ 12 and n = months.
Worked example
With these inputs: rv price $60,000; down payment $6,000; trade-in value $0; sales tax 6%; interest rate 8.5%; loan term 15.
The result is monthly payment $567.21, with amount financed $57,600.00 and sales tax $3,600.00. Add insurance, storage, campground fees, fuel and maintenance to the monthly payment before you decide what you can afford.
RV loan terms and down payments
RV loans run longer than car loans. Lenders often offer 10 to 15 years, and up to 20 on larger or newer motorhomes, usually with 10% to 20% down. The longer term lowers the payment but costs much more interest: in the example, 20 years is $499.87 a month with $62,367.88 of interest, while 10 years is $714.16 with $28,098.91.
RVs lose value fastest in the first years, so a small down payment on a long term can leave you owing more than the RV is worth. A bigger down payment or a shorter term protects you if you sell early.
The payment isn't the whole cost
Insurance, storage, campground fees, fuel, maintenance and registration all add to the monthly cost of owning an RV. Add them up with the cost per day, week, month and year calculator, check the total with the can I afford this bill calculator, and plan the trips themselves with the vacation budget calculator.
Already have an RV loan? The extra payment calculator shows how much sooner extra payments pay it off, and a sinking fund covers the yearly insurance and registration bills.
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Frequently asked questions
What is the monthly payment on a $60,000 RV?
With $6,000 down and 6% sales tax, $57,600 financed at 8.5% for 15 years is $567.21 a month. Over 20 years it's $499.87; over 10 years, $714.16.
How long can you finance an RV?
Often 10 to 15 years, and up to 20 years for larger, newer RVs and bigger loan amounts. Shorter terms cost less interest overall.
How much down payment do I need for an RV?
Most lenders ask for 10% to 20%. On a $60,000 RV that's $6,000 to $12,000; going from 10% to 20% down lowers the example payment from $567.21 to $508.13.
Is sales tax included in an RV loan?
It can be. Most states tax the price after the trade-in, and many buyers roll the tax into the loan, as this calculator does. Paying it up front lowers the amount financed.
Is RV loan interest tax deductible?
Sometimes. An RV with sleeping, cooking and toilet facilities can count as a second home for the mortgage interest deduction if you itemize. Check with a tax professional.