Rv Loan Calculator

Written by Patricia Tunstall
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Computing monthly loan payments is critical to understanding whether or not you can afford that new fifth wheel, 40-foot class A, or 29-foot class C. Even with used travel trailers and motor homes, loans of tens of thousands of dollars may be necessary. Use an RV loan calculator to let the cold math help you realize how much of an investment an RV is.

Do the Math

Actually, let the calculator do the math, because even though there aren't many factors to enter, the computation is complex. To give an idea of the effect of various loan amounts, we'll calculate them at six percent interest over 10- and 20-year terms. A loan of $20,000 might get you a travel trailer, a used fifth wheel, or a fold-down trailer. Your payments would be $222 for a 10-year loan and $143 for a 20-year loan.

A $40,000 loan is a lot of money, but not enough to buy many motorized RVs, unless they're used. At 10 years, your payments will be about $444, and at 20 years, $287. At this price, a lot of shopping must be done to find small RVs that are in good shape in the used market.

A $100,000 loan is getting more realistic if you have your heart set on a new RV of any type. Monthly payments for a 10-year loan will be about $1,110, and for 20 years, $716. If you are seriously interested in a big class A (over 30 feet), $250,000 is a minimum amount, and luxury coaches easily run twice that. Over 10 years, monthly payments will run about $2,776, and over 20 years, about $1,791.

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