Cernarus

RV Loan Payment Calculator

This RV loan payment calculator compares standard monthly amortization with two common bi‑weekly approaches (26 payments/year and twice‑monthly 24 payments/year) and estimates the effect of recurring extra payments. Use it to see scheduled payment amounts, total interest, and estimated payoff times.

Results are estimates for planning. Actual lender behavior (first payment date, compounding conventions, fees, and rounding rules) can change figures. See the methodology and citations for accuracy notes and standards referenced.

Updated Nov 23, 2025

Standard amortization using 12 payments per year. Produces scheduled monthly payment, total interest, and total paid over the term.

Inputs

Results

Updates as you type

Monthly payment

-$1.13

Total interest (monthly schedule)

-$50,270.83

Total paid (monthly schedule)

-$270.83

Payoff time (monthly)

20

OutputValueUnit
Monthly payment-$1.13USD
Total interest (monthly schedule)-$50,270.83USD
Total paid (monthly schedule)-$270.83USD
Payoff time (monthly)20years
Primary result-$1.13

Visualization

Methodology

All core scheduled payments use standard amortization math: periodic rate = APR / payments per year; payment = r * P / (1 - (1+r)^-n) where P is principal, r is periodic rate, and n is total number of payments.

Bi‑weekly '26' schedule treats each period as 1/26 of a year and computes payments for n = term_years * 26. The twice‑monthly '24' schedule treats payments as 24 equal periods per year and is not equivalent to accelerated 26‑payment bi‑weekly.

When recurring extra payments are provided, the tool uses a closed‑form rearrangement of the amortization equation to estimate the new number of payments: n_new = -ln(1 - r * P / p_total) / ln(1 + r), where p_total = scheduled payment + extra. This is an estimate assuming the lender applies the full extra amount to principal each period and charges interest at the stated periodic rate.

Key takeaways

Use the monthly, bi‑weekly (26) and twice‑monthly (24) models to compare scheduled payments and total interest. Use the 'with extra' options to estimate the effect of consistent additional principal reductions.

This calculator is for planning and comparison. For official payoff figures, amortization details, or contract interpretation, consult your lender and review your loan agreement.

Further resources

Expert Q&A

Why do 26 bi‑weekly payments pay the loan off faster than 12 monthly payments?

26 bi‑weekly payments equal 13 months of half‑monthly payments each year (26 half payments ≈ 13 full payments). Over a year this is more principal paid than 12 monthly payments, which accelerates payoff and reduces interest. The 24 twice‑monthly option does not provide the same acceleration.

Is APR the same as the periodic interest rate used in the math?

No. The APR is annual percentage rate expressed yearly. The calculator converts APR into the periodic interest rate by dividing by the number of payments per year. Some lenders quote nominal rates or compound differently; check your loan contract.

How accurate are the "with extra" payoff estimates?

Estimates assume each extra payment is applied directly to principal at the same cadence as scheduled payments and that interest accrues at the stated periodic rate. Actual payoff may differ because of payment posting timing, minimum payment rules, fees, or lender rounding. See accuracy & standards note.

Why are there different bi‑weekly options (26 vs 24)?

Some lenders offer true every‑two‑weeks (26 payments/year) while others simply split monthly payments into two each month (24 payments/year). The difference changes the math and payoff effect.

Can I use this to generate an exact amortization schedule?

This tool provides period payment amounts and estimated aggregates. For a fully itemized amortization schedule that reflects lender posting, fees, and day‑count conventions, request an official amortization schedule from your lender.

Sources & citations