RV Loan Calculator

1. Estimate your monthly payment.

You can use our RV loan calculator to estimate your monthly RV payments. Here’s how to get the numbers you need:

• Loan amount: The loan amount is just the purchase price of the RV you plan to buy. Once you know the type of RV you want, the price will be easy to find online.
• Interest rate: Use the annual percentage rate (APR) from your offer if you’ve already applied for an RV loan. If you’re still browsing, you can estimate your APR using the table in the next section. (Note: Using the APR in your calculations will give you a more accurate estimate of your monthly payments than the interest rate alone, because the APR accounts for fees.)
• Loan term: RV loans typically come with terms up to 240 months (20 years). Play around with our RV payment calculator to find the shortest loan term with monthly payments you can comfortably afford.

When you plug in the numbers, the calculator will automatically estimate your monthly RV payment.

2. Check your budget.

Make sure that the monthly payment fits in your budget. If you can’t make your RV payments, you risk defaulting on your loan and losing your RV.

3. Play around with numbers.

If you can afford the monthly payment, great! You can move forward with applying for an RV loan. But if you can’t, try the following methods to make your RV loan more affordable:

• Decrease the loan amount. You can lower the purchase price by opting for a less expensive model or buying a used RV.
• Decrease the interest rate. You’ll likely qualify for better interest rates and lower monthly payments if you take the time to improve your credit before applying for a loan.
• Choose a longer loan term. If you stretch out your payments over a longer term, your monthly payments may go down, but you’ll likely pay more in interest over the life of the loan.

Use our RV financing calculator to estimate your monthly payments in each of the above scenarios until you find a loan that fits your budget.

While each lender will have its own unique approach to RV financing, you’ll generally take the following steps to finance an RV.

1. Check your credit score. Your credit score will play a big role in whether you qualify for an RV loan, and it will determine the rates lenders offer you. The higher your credit score, the better the rates. You can check your score for free with LendingTree Spring.
2. Decide on your budget. Use our RV payment calculator to make sure that you can afford the monthly payments for the type of RV you want to buy.
3. See if you prequalify or can get preapproved. A preapproval is a firm offer from a lender outlining the loan amounts, rates and terms you qualify for. Prequalifying for a loan allows you to preview the kinds of loan terms you may receive from lenders, at no impact to your credit — however, prequalification isn’t a firm offer.
4. Verify your information. After you formally apply for an RV loan, you’ll need to verify your income, residency, identity and employment. You may also need to provide recent pay stubs, W-2s and a government-issued form of ID.
5. Sign your loan agreement. If you decide to move forward with a lender, it’ll run a hard credit pull to examine your credit history. If everything is in order, you’ll receive a loan approval and then sign your loan agreement.