How RV loans work
RV loans are like car loans with much longer terms. Lenders commonly offer up to 10 to 15 years on smaller RVs and up to 20 years on large motorhomes, usually with a minimum loan amount. Most lenders want a down payment of 10% to 20%. Because RVs depreciate, a long loan can leave you owing more than the RV is worth for many years.
RV loan formula
Monthly payment = P × r ÷ (1 − (1 + r)−n), r = APR ÷ 1200
Worked example
A $60,000 travel trailer with 10% down leaves $54,000 to finance. At 7.5% APR over 15 years the payment is $500.59 a month, and you pay $36,106 in interest, two thirds of the amount borrowed.
Payment on $50,000 at 7.5% APR
| Term | Monthly payment | Total interest |
|---|---|---|
| 10 years | $593.51 | $21,221.06 |
| 15 years | $463.51 | $33,431.11 |
| 20 years | $402.80 | $46,671.18 |
Going from 10 to 20 years lowers the payment by about $191 but more than doubles the interest.
Tips before financing an RV
- Rent first. A week in a rented RV tells you which size and layout you really want.
- Buy used to avoid the first-year drop in value, and get an independent inspection.
- Compare RV specialty lenders and credit unions; dealer financing is not always the cheapest.
- Count the running costs: insurance, storage, fuel and maintenance can add hundreds a month.
Planning the first trip? Price the fuel with the fuel cost calculator. Financing a bike or car instead? Try the motorcycle loan or car loan calculator.
Frequently asked questions
How long can you finance an RV?
Many lenders offer 10 to 15 years on smaller RVs and travel trailers and up to 20 years on large, expensive motorhomes. Terms depend on the loan amount, the RV's age and your credit.
What is the payment on a $50,000 RV loan?
At 7.5% APR it is about $594 a month over 10 years, $464 over 15 years and $403 over 20 years.
How much down payment do I need for an RV?
Most lenders ask for 10% to 20% down. A larger down payment lowers the rate and helps you avoid owing more than the RV is worth.
Is RV loan interest tax deductible?
If the RV has sleeping, cooking and toilet facilities it can qualify as a second home, and the interest may be deductible if you itemize. Check with a tax professional for your situation.
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Last updated October 2026.