Plan your motorhome, travel trailer, or fifth wheel purchase with accurate monthly payments, total interest, and a complete amortization schedule.
RV payments depend on the purchase price, down payment, interest rate, and loan term (often 10-20 years for motorhomes). For example, a $60,000 travel trailer with $7,500 down at 7.99% interest over 12 years = about $597/month, with roughly $33,446 in total interest. Longer terms lower monthly payments but increase total interest substantially.
This calculator uses the standard amortization formula PMT = P[r(1+r)^n] / [(1+r)^n − 1] to determine payments, total interest, and a full amortization schedule for RVs, motorhomes, travel trailers, fifth wheels, and camper vans.
This RV Financing Calculator calculates Canadian RV, motorhome, travel trailer, and fifth wheel financing including monthly payments, total interest, provincial sales tax, and full amortization. It supports trade-ins, admin fees, and extended warranties with loan terms up to 20 years.
Standards: Amortization Formulas, Canadian RV Financing Standards, Provincial Sales Tax Rates, FCAC Consumer Protection Guidelines
Periodic payments are calculated using the standard amortization formula, which spreads principal and interest evenly across the full term.
Actual lender schedules may differ slightly due to rounding conventions and compounding frequency.
Precise monthly, bi-weekly, and weekly payment calculations with full amortization breakdown.
Model the long amortization periods typical of motorhomes and fifth wheels with confidence.
See exactly how much you'll pay including interest, taxes, admin fees, and warranties.
Factor in your trade-in value and outstanding loan balance to see your true financed amount.
Automatic GST, PST, and HST calculation for every province and territory.
Built-in scenarios for travel trailers, class A/B/C motorhomes, fifth wheels, and used RVs.
RV Loan Amortization Formula
PMT = P[r(1+r)^n] / [(1+r)^n - 1]
RV loans differ from auto loans in two important ways: the amounts are larger, and the amortization is longer. Lenders in Canada routinely offer terms of 10 to 20 years on motorhomes and fifth wheels, which keeps monthly payments manageable but significantly increases total interest paid.
Because RVs depreciate quickly during the first few years of ownership, it is easy to end up underwater if you start with a small down payment and a long term. Running the numbers before you sign helps you avoid that trap.
Four steps to build a realistic RV financing estimate:
Start with the negotiated purchase price. Don't include taxes or admin fees here; the calculator adds those separately.
A larger down payment keeps you from going underwater. If you're trading in, include the amount still owed so the net value is accurate.
Your province sets the sales tax automatically. Use the best rate you've been pre-approved for rather than a guess.
Compare a 10-year vs. 15-year vs. 20-year term. Add dealer admin fees and any extended warranty you plan to finance.
These concepts show up on every RV loan agreement in Canada.
Cash applied at purchase that reduces the financed amount. Aim for 10-20% to stay above water as the RV depreciates.
The all-in annual cost of borrowing. Even a 1% difference on a 15-year RV loan can mean five figures in extra interest.
How long you take to repay. Longer terms lower the payment but multiply total interest, and they often extend past the RV's useful life.
Travel trailers drop 20-30% in the first year and motorhomes 15-25%. A small down payment on a long term almost guarantees negative equity.
RVs depreciate fast. A $60,000 trailer can lose $15,000 of value in year one. Starting with equity keeps you from being trapped when life changes.
On a $100,000 motorhome at 8%, moving from 10 to 20 years drops the payment by ~$350 but adds roughly $50,000 in interest. Pick the shortest term you can afford.
Dealer financing is convenient but rarely cheapest. Your bank or credit union pre-approval becomes a negotiating floor for the dealer to beat.
Payment-shopping lets dealers hide long terms and high rates. Lock in the out-the-door price, then talk financing.
Extended warranties, paint protection, and admin fees can easily add $5,000 to the loan. Decide in advance which you actually want.
Insurance, storage, campground fees, fuel, and maintenance can easily equal or exceed the loan payment. Factor all of it into your plan.
A 20-year RV loan routinely outlives the RV's useful life. You risk paying for a unit that's already been scrapped or sold at a loss.
With steep first-year depreciation, starting with no equity almost guarantees being underwater for years. One unexpected life change becomes a crisis.
Adding what you still owe on an old unit onto the new loan snowballs debt. Pay down the old loan first whenever possible.
Insurance, storage, maintenance, and depreciation often exceed the payment itself. Budget the full picture before signing.
This calculator is based on the following authoritative sources and research:
Important Note: This calculator provides estimates for planning purposes. Actual loan terms, rates, and payments may differ based on credit score, lender policies, RV type, age and condition, and other factors. Always review loan documents carefully and shop around for the best rates.
Common questions about financing an RV in Canada
salesTaxRate 13.00%
rvPriceHelper
13.6% downPaymentHelper
annualRate
lengthOfLoanHelper
optionalFeesHelper
emptyStateDescription
scenariosSubtitle
| scenarioColName | scenarioColPrice | scenarioColDown | scenarioColRate | scenarioColTerm | scenarioColMonthly | scenarioColInterest | scenarioColTotal | |
|---|---|---|---|---|---|---|---|---|
Entry-Level Travel Trailer Weekend camping starter · 10-year term | $25,000.00 | $2,500.00 | 7.50% | 10 years | $305.35 | $10,917.81 | $36,641.81 | |
Family Class C Motorhome Mid-size family rig · 15-year term | $85,000.00 | $12,000.00 | 7.99% | 15 years | $826.03 | $62,197.25 | $148,686.25 | |
Luxury Class A Diesel Pusher Full-timer luxury · 20-year term | $200,000.00 | $40,000.00 | 8.49% | 20 years | $1,642.45 | $204,789.00 | $394,188.00 | |
Weekend Fifth Wheel Spacious towable · 12-year term | $55,000.00 | $7,500.00 | 7.75% | 12 years | $599.31 | $30,227.28 | $86,301.28 | |
Pop-up Tent Trailer Lightweight starter · 7-year term | $15,000.00 | $1,500.00 | 7.25% | 7 years | $235.14 | $4,297.38 | $19,751.38 | |
Used Class B Camper Van Pre-owned van life · 8-year term | $45,000.00 | $5,000.00 | 8.99% | 8 years | $688.30 | $19,077.91 | $66,076.91 |
