RV loan payments by type of RV
RV prices range from a small towable trailer to a diesel motorhome that costs as much as a house, so the payment depends mostly on the amount financed. Payments at 8% with 20% down, for prices of that size:
| Example price | Financed | 10 years | 15 years | 20 years |
|---|---|---|---|---|
| Travel trailer ($30,000) | $24,000 | $291.19 | $229.36 | $200.75 |
| Fifth wheel ($60,000) | $48,000 | $582.37 | $458.71 | $401.49 |
| Class C motorhome ($120,000) | $96,000 | $1,164.74 | $917.43 | $802.98 |
| Class A motorhome ($250,000) | $200,000 | $2,426.55 | $1,911.30 | $1,672.88 |
The prices are round examples to show the arithmetic, not market averages; enter the price you are quoted.
How long RV loans run, and what that costs
Long terms keep the payment low but stretch out the interest and the time you owe more than the RV is worth. On the example loan, the balance falls slowly at first because most of each early payment is interest:
| After | Interest paid that year | Balance owed |
|---|---|---|
| 1 year | $5,877 | $72,607 |
| 3 years | $5,606 | $69,070 |
| 5 years | $5,288 | $64,922 |
| 10 years | $4,232 | $51,137 |
| 15 years | $2,658 | $30,598 |
Paying $200 extra each month on this loan saves $34,918 of interest and ends it 8.4 years early. Try other amounts in the calculator's extra payment field.
Can you deduct RV loan interest?
Yes, if the RV counts as a home. IRS Publication 936 treats a motor home or trailer with sleeping, cooking and toilet facilities as a qualified home, so interest on a loan secured by it can be deducted as interest on a main or second home if you itemize.[1] Only one home besides your main home can be treated as a second home, and the overall limits on mortgage debt apply. The separate 2025–2028 deduction for car loan interest covers a new car, minivan, van, SUV, pickup or motorcycle under 14,000 pounds gross vehicle weight that was assembled in the United States; a motorhome or trailer is not on that list, so do not count on it for an RV.[2]
Full-time RVersIf the RV is your main home, the interest can be deducted as main-home mortgage interest, but your state of domicile also decides registration fees, sales tax, insurance and income tax. Those rules differ widely between states.
Costs on top of the RV loan
An RV adds costs a car does not: campground and storage fees, propane, generator fuel and service, roof and seal maintenance, tires that age out before they wear out, and, for towables, a tow vehicle capable of the weight. A large motorhome may get single-digit miles per gallon; the gas cost calculator shows what a road trip costs at a given mpg and this week's prices. Registration is often based on weight or value; the vehicle registration fee calculator covers 13 states' schedules.
- Compare offers by APR and total interest. A dealer quote focused on the monthly payment can hide a longer term; a shorter term reduces the total loan cost.[3]
- Price the insurance first. Motorhomes need liability like a car; full-time use usually needs a different policy.
- Plan the resale. RVs lose value as they age; use the depreciation calculator with your own rate to see when the loan balance falls below the likely value.
Financing a boat or a bike instead? See the boat loan calculator or the motorcycle loan calculator.
Frequently asked questions
How do I calculate an RV loan payment?
Payment = A × r ÷ (1 − (1 + r)−n). $68,000 at 8% for 20 years (240 months) is $568.78 a month.
How long are RV loans?
Each lender sets its own maximum term, usually by loan size and the RV's age; we found no official survey of typical RV loan terms. In the table above, the same loan costs far more interest over 20 years than over 10.
Is RV loan interest tax deductible?
It can be, if the RV has sleeping, cooking and toilet facilities, the loan is secured by it, and you itemize; it is then treated as home mortgage interest.[1]
Should I put 20% down on an RV?
A larger down payment lowers the payment and reduces the risk of owing more than the RV is worth, which matters because RVs depreciate while long loans pay down slowly.