RV Loan Calculator: How to Calculate Your Monthly RV Payment (Examples + What I Paid)
Thinking about BUYING AN RV, and trying to CALCULATE Your Monthly RV PAYMENT? Wondering how much does an RV cost per month? Keep in mind, there are other RV Expenses in addition to the monthly payment which depend on the RV Size and Type (aka the RV you purchase), as well as your RV Lifestyle.
So, if you are Full Time RV Living or just RVing, part time, maybe as a weekend warrior or snowbird you must budget for the cost of the RV (i.e., motorhome, travel trailer, fifth wheel, van, etc). PLUS your RV Insurance and all the other RV Living Expenses (Water, Electric, Sewer, Fuel, Cable, Wifi, etc)
In this blog post, I’m breaking down my monthly RV Payments and What I PAY or have PAID in the past for the different types of RVs I’ve purchased. So, you’ll be able to determine which RV is right for me (or YOU, should I say — your RV lifestyle and RV budget needs! This is part of the costs of RV Life and How to Figure Out Your Monthly RV Payment!
PS I also made you a video to go along with this post!
How Much Does an RV Cost? (New vs. Used + RV Financing Breakdown)
Hey! Blogging Brandi here, and this is RVersity—a university for RVers!
Have you ever thought about buying an RV? Or you’re curious. How Much Does an RV Cost per month? You might even be asking yourself: Should I buy an RV new or used?
Well, I just went through the RV buying process with my 2018 Thor Outlaw 37RB Motorhome Toy Hauler, and I’ve learned a thing or two. Plus, I’ve owned travel trailers and lived the van life — in fact, I’ve bought 6 RVs, both new and used!
A Few Notes… about RV Buying:
- RV’s are financed like a house 10, 20, 30 years… (smaller monthly payments)
- May require a downpayment 10-20% especially over $99k
- RVs are depreciating assets
- Other costs involved depending on your RV lifestyle: Storage, Fuel, Propane, Insurance, Lot Rent (Electric/Sewer/Water), Internet, Cable, etc…
- Trade ins are welcome (cars, jewelry, atvs, etc…) at larger RV dealerships
- Consider private seller vs RV dealerships
- Shop around for financing your bank vs others (Dealerships can help shop multiple banks at once)
Related:
- I’ve Got 2 RVs: Stationary Travel Trailer + Van Life for Traveling (6 RVs Later…)
- We SOLD our RV: Motorhome vs Travel Trailer Making The Switch!
RV Financing Basics
Most people don’t realize that RVs can be financed just like a house—yep, you make a monthly payment. And honestly, it’s probably cheaper than you think!
RVs are often financed for:
- 10, 15, 20, or even 30 years
- The loan terms depend on the cost of the RV and how much you’re financing.
- Longer terms may be available for more expensive RVs, but that also affects your interest rate.
>> Learn all about RV Financing 101
Do I Need a Down Payment?
You may have to put money down, especially if the RV price is over a certain amount. For example:
- If it’s over $100,000, lenders usually require a 10–20% down payment.
- Below that amount? A down payment might not be required, but it depends on the bank and your credit
Bonus Tip: Some Dealerships will let you trade in almost anything—cars, grills, guns, jewelry — silver and gold, and of course, you can trade in another RV. So even if you don’t have cash, you might have something you can put down towards the cost of your RV purchase to help with the downpayment! Either get them to buy it or sell those items for cash yourself!
How to Research RV Prices
If you want to see what RVs cost—whether you’re buying from a dealership or private seller—check out:
- RVTrader.com
- RVT.com
- Facebook Marketplace
- Good Sam (RV Loans)
- RV Dealerships
- Ebay Motors
- PPL Motorhomes
- JD Power – NADA Guides
These sites help you compare listings and run payment estimates too.
>> Best Places To Find and Buy An RV
Real RV Payment Example
Let’s break it down using my RV as an example.
My RV is a 2018 Thor Outlaw 37RB Toy Hauler, and let’s say you find one for $99,000 (a.k.a. $100K).
Here’s the math:
- Purchase price: $99,000
- Down payment: $5,000
- Interest rate: 5% APR
- Loan term: 180 months (15 years)
👉 Your estimated monthly payment would be $743.35/month.
Don’t forget to factor in your RV Insurance Payment
Now imagine if you were financing something way less!
Lower-Cost RV Example
I also had a travel trailer that cost around $32,000. I don’t remember the exact terms, but it was something like 10 or 15 years, and my payment was only about $232–$300/month.
So if you’re looking at a $30K RV, your payment could be significantly lower—it all depends on your loan terms.
Why RV Loans Are Like Mortgages (Not Car Loans)
These RV loans act more like home mortgages than auto loans. Why?
Because RVs are literally houses on wheels—you’ve got bedrooms, bathrooms, kitchens. (I’m literally standing in mine right now!)
So don’t freak out thinking your RV payment will be sky-high. It’s more affordable than you think, especially compared to rent or a mortgage.
Other Costs to Consider
Keep in mind—RVs are usually depreciating assets. That means:
Don’t expect your RV to increase in value over time. It typically won’t. (But it can)
Besides the RV itself, here are other RV Living costs that come with the RV lifestyle:
- Campground/RV Park Rent or RV Storage
- Fuel
- Propane
- Electric, Sewer, and Water Hookups (may be included in your RV Park lot rent)
- Internet & Cable
These all vary depending on your setup and travel style.
Dealership vs. Private Seller: Which Is Better?
When buying, you’ll notice some advantages to going through a dealership:
- You can trade in a wide range of items—not just RVs.
- They often shop multiple banks to get you better financing terms.
- You might get better rates and longer loan terms compared to your personal bank.
Example: Lazydays in Tampa ran my credit with several banks and I ended up getting a better deal with Bank of America than with USAA (who I normally finance with).
Want to Learn More?
Now, you know how much an RV costs, but like I mentioned, this is just one cost and part of the process. There are additional RV Expenses in addition to the monthly payment which depend on your RV Lifestyle. Whether you are Full Time RV Living or just RVing you must budget for the cost of the RV plus RV Insurance, Water, Electricity, Sewer, Cable, Wifi, Gas or Diesel, LP Propane, etc…
I’ve created a full RV Buying Guide to walk you through this process step-by-step.
📌 You’ll find the link to the guide, plus all the tools, calculators, and video tutorials I mention here >> RV BUYING GUIDE 📚
If you’re not checking the description—you’re seriously missing out!
Mistakes I Made Buying an RV + Lessons Learned (6 RVs Later…)
Final Thoughts
I’m Blogging Brandi, and this is RVersity: A University for RVers!
If you found this helpful, don’t forget to subscribe on YouTube, and I’ll see you in the next video!
P.S. I always get asked where I’m filming from… Right now, I’m staying at the LAS VEGAS KOA AT SAM’S TOWN JOURNEY (it’s beautiful). If you didn’t See my RV Vlogs to Vegas, check them out too! — Thanks for watching!
RV Buying Guide
If you want to pick the right RV for yourself and budget to avoid making the same costly mistakes that i did then download my RV buying guide to help walk you through the process
RELATED VIDEOS
- RV BUYING TIPS AND ADVICE
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- HOW MUCH DOES RV INSURANCE COST
- TAKE A TOUR OF MY RV 2018 Thor Outlaw 37RB
- Follow my Vlogs to Vegas
- RV Budget Spreadsheet
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