Use our RV loan calculator to calculate your monthly payments, total interest paid! We also provide info on how to get the best rv financing interest rates.
Recreational vehicles are a great option for those individuals who are retired or are looking to travel across the United States. With an RV you won’t need to spend a lot of time planning your next trip, such as where you’re going to stay. When buying an rv it’s important to be knowledgeable about getting the best rate. This is where the rv loan calculator comes into play.
Getting the best RV loan rates
Your credit score and loan term will have a huge impact on the rates you get. An individual with a fair credit score will pay an average $8,368 more over the life of the loan (based on a $40,000 RV). Start by getting your free credit report. If you have a credit score below 650 you should consider improving your credit score before purchasing a RV. This will allow you to get the best interest rates.
A few things to keep in mind before purchasing a RV.
- New RV’s lose approximately 21% once you drive them off the lot.
- Most RV’s that are 5 years have already depreciated 36%!
Using the RV loan Calculator
- Start off by entering the total rv loan amount.
- Enter any down payment that will be applied to the loan.
- The interest rate can change, so try entering based off your credit score
- Last the length of the loan in years
- The RV loan calculator will show your monthly payments based on the information entered above.