How do you calculate RV financing?


Quick Answer

The monthly payment for a recreational vehicle loan is calculated by entering the loan amount, interest rate and term into an RV loan calculator, according to Kampgrounds of America. Conversely, the loan amount is determined by entering the monthly payment, annual percentage rate and years financed into a separate calculator.

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Full Answer

RV loans are structured differently from traditional auto loans, states KOA. Available finance terms are much longer. In the case of KOA's RV financing program, terms of up 180 months are available for loans of less than $50,000, and terms of 240 months are available for loans over $50,000. Minimum loan amounts are also higher. For example, KOA's program requires a $10,000 minimum loan amount.

RV financing options include refinancing a current loan and RV loan pre-approvals, explains RV Financing.com. Buyers also have the option to purchase extended warranties on their vehicles, notes RVWarranty.com. Like cars, RVs come with a manufacturers warranty. RV manufacturer's warranties are typically for three years and 36,000 miles for gas engine models and five years and 50,000 miles for diesel engine models. Some diesel engine models come with 100,000 mile warranties. Coach components are typically covered for one year. Owners have the option of purchasing extended warranties at the time they purchase their RVs.

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