RV Loan Calculator: Monthly Payments on Motorhomes, Campers and Trailers

This RV loan calculator shows estimated monthly loan payments so you can determine how they fit into your budget.
Last updated on Apr 27, 2022

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An RV loan calculator can show what your monthly payments on an RV loan may be, as well as how much you’ll pay in total interest.

Use this RV loan calculator to estimate the cost of financing a new motorhome, camper or trailer.

» COMPARE: Best RV loans

How to calculate RV loan payments

Here’s what to expect from an RV loan. You can adjust the loan amount, term or rate to see different results in the calculator.

Loan amount: This is the amount you expect to borrow. Unsecured RV loans range from $1,000 to $100,000, so the latter is the maximum amount you can enter into this calculator. Secured loans can be more than $500,000. Get an estimate of the RV’s purchase price before you start shopping for a loan so you know which lenders offer large enough loans.

Repayment term: This is how many years you’ll need to repay the loan. Unsecured RV loan terms are usually two to seven years, while secured RV loan repayment terms can be up to 20 years. You can enter any repayment term into this calculator. You’ll pay more interest overall with a longer repayment term, while a shorter repayment term means higher monthly payments.

Annual percentage rate: The annual percentage rate is the interest rate you expect to get plus any fees. The rate you get on an unsecured loan is determined by a mix of your credit score and history, as well as your income and existing debts. With a secured loan, the RV’s age and mileage also factor into your rate.

RV loan calculator

Secured vs. unsecured RV loans

The RV you plan to purchase can be used as collateral to secure your RV loan. An unsecured loan does not require collateral.

Secured RV loans are more common at banks and credit unions. These loans may require a down payment, which means cash upfront but a lower loan amount. Because the RV is collateral for the loan, a lender can take it from you if you fail to make payments.

Unsecured loans are mostly found at online lenders. These loans don’t require collateral or a down payment, but may have higher rates than secured loans. Online lenders will typically let you pre-qualify, so you can check your potential rate without affecting your credit score.

Here's what average estimated APRs are on unsecured personal loans, based on FICO score ranges:

How's your credit?

Score range

Estimated APR

Excellent

720-850.

10.6%.

Good

690-719.

15.7%.

Fair

630-689.

19.4%.

Bad

300-629.

25.2%.

Source: Average rates are based on aggregate, anonymized offer data from users who pre-qualified in NerdWallet’s lender marketplace from March 1, 2022, to Aug. 31, 2022. Rates are estimates only and not specific to any lender. The lowest credit scores — usually below a 500 credit score — are unlikely to qualify. Information in this table applies only to lenders with APRs below 36%.

To determine which RV loan is best for you, compare the pros and cons.

Pros and cons of secured and unsecured RV loans

Pros

Cons

Secured RV loans

  • May carry lower interest rates and longer terms.

  • If you have a low credit score, you may have an easier time qualifying.

  • You may need to have cash on hand for a down payment.

  • If you fail to repay the loan, the lender can seize your RV.

Unsecured RV loans

  • Can usually pre-qualify to preview potential rate and term.

  • No collateral is required, so you won’t risk losing your RV.

  • Interest rates may be higher and terms shorter.

  • You’ll need a strong credit score and solid finances to get the best offer.

  • If you fail to repay the loan, the lender can take you to court.

Common questions about RV loans

Where can I get an RV loan?

RV loans are available from online lenders, banks and credit unions. Banks and credit unions will be more likely to offer secured loans, which typically have lower rates, but may require a down payment.

How long are RV loans?

RV loan repayment terms vary based on the type of loan and the lender you choose. You can expect terms ranging from two to seven years for unsecured loans. For secured loans, terms can be as long as 15 or 20 years.

How do I apply for an RV loan?

You can apply for an RV loan directly with the lender. Most lenders offer online applications, but you may need to visit a branch to close the loan.

When you apply for the loan, you’ll supply personal information, including your Social Security number and vehicle details if the loan is secured. You may also be asked to supply verification documents like proof of identity, employment and income.

Approval and funding time vary. Online lenders are usually the fastest, with funds available in your account one or two business days after closing the loan.

NerdWallet recommends comparing loans to find the lowest rate and best features for you.

See if you pre-qualify for a personal loan – without affecting your credit score
Just answer a few questions to get personalized rate estimates from multiple lenders.
Learn more about pre-qualifying

Other loan calculators

Credit score loan calculator: See what rate you could qualify for on a personal loan, based on your credit score.

Debt-to-income calculator: Find out your debt-to-income ratio, which most lenders consider when you apply for a personal loan.

Personal loan calculator: Check estimated interest rates and payments for a personal loan, based on your credit score.

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