RV Loan Interest Calculator
This RV loan calculator estimates periodic payments, total interest, and total paid under multiple repayment models: standard monthly amortization, bi‑weekly schedules (standard and accelerated) and monthly amortization with a balloon payment. Use extra per‑payment contributions to see the effect on total interest and payoff timing.
Values are calculated from standard amortization mathematics. Where a balloon balance is specified, the calculator treats that amount as due at the final scheduled payment. Bi‑weekly options use 26 payments per year and accelerated bi‑weekly uses the monthly payment/2 model.
Standard fixed-rate monthly amortization. Extra per-payment contributions are applied to each payment. Balloon balance (if any) is paid at the end of term.
Inputs
Results
Monthly payment (incl. extras)
$372.79
Total scheduled payments
240
Estimated total interest
$39,468.78
Estimated total paid
$89,468.78
Scheduled payoff (years)
20
| Output | Value | Unit |
|---|---|---|
| Monthly payment (incl. extras) | $372.79 | currency |
| Total scheduled payments | 240 | — |
| Estimated total interest | $39,468.78 | currency |
| Estimated total paid | $89,468.78 | currency |
| Scheduled payoff (years) | 20 | years |
Visualization
Methodology
Periodic payment formulas are based on fixed‑rate loan amortization: periodic_rate = annual_rate / payments_per_year, and payment = (principal * periodic_rate) / (1 - (1+periodic_rate)^(-N)). For balloon payments the present value of the balloon is discounted and subtracted from principal when deriving the regular payment.
Bi‑weekly accelerated payments are derived by halving the standard monthly payment and applying 26 payments per year; this commonly results in an effective extra payment per year and earlier payoff. All 'total interest' and 'total paid' estimates assume the stated extra contribution is applied each scheduled payment and the balloon (if any) is paid in full at term end.
This tool provides estimates suitable for planning. Exact amortization, escrow, fees, rounding and lender policies can change final figures; see the accuracy and regulatory notes below.
Worked examples
Example: $50,000 principal, 6.5% APR, 20 years, no balloon, no extras — monthly payment uses payments_per_year=12; bi‑weekly standard uses payments_per_year=26 and will change periodic payment accordingly.
Example: Same loan with accelerated bi‑weekly (monthly/2) typically shortens scheduled payoff and reduces total interest versus pure monthly payments, because 26 half‑monthly payments approximate 13 full monthly payments per year.
Key takeaways
Choose monthly, bi‑weekly standard, bi‑weekly accelerated, or balloon methods to compare payment and interest outcomes. Use extra payment inputs for simple scenario analysis.
For formal loan terms, request a detailed amortization schedule and Truth in Lending (TIL) / Loan Estimate from your lender. This tool is a planning aid, not a legal disclosure.
Further resources
External guidance
Expert Q&A
Does the calculator include fees, taxes or insurance?
No. This calculator estimates principal and interest only. Taxes, insurance, dealer fees, documentation or other charges are excluded. Include those separately when budgeting.
How accurate are the results?
Results are mathematically consistent with standard amortization formulas and are intended for planning. They do not account for lender rounding rules, payment timing differences, late fees, interest compounding peculiarities, or escrow. For legally binding figures, obtain an official amortization schedule or loan disclosure from your lender.
What is the difference between bi‑weekly standard and accelerated?
Standard bi‑weekly sets payments so that 26 equal payments amortize the loan over the same nominal term. Accelerated bi‑weekly commonly takes the monthly payment, halves it, and applies 26 payments per year — effectively making an extra monthly payment each year and shortening the payoff period.
How should I enter zero interest rate?
If APR is zero, the calculator's formula for periodic rate-based amortization may be numerically unstable. For zero APR, the equivalent payment is principal divided by the number of payments (principal / N).
Sources & citations
- Consumer Financial Protection Bureau — Mortgage calculators and disclosures — https://www.consumerfinance.gov
- NIST — Guidelines for ensuring mathematical accuracy and reproducibility — https://www.nist.gov
- ISO — Risk and financial management standards — https://www.iso.org
- IEEE — Standards for numerical methods and software quality — https://www.ieee.org
- OSHA — Guidance on reliable user interface and accessibility best practices — https://www.osha.gov