RV Loan Payment Calculator with Extra Payments
This RV loan calculator estimates scheduled payments, the impact of recurring extra payments and/or a single one-time extra principal payment on payoff time and interest paid. Use it to compare the 'no extra' case to adding extra principal each period or a one-time lump-sum payment.
Results are estimates based on standard amortization math and assume fixed interest rate, equal payment periods and that extra amounts are applied directly to principal. See methodology and accuracy notes below.
Estimates effect of recurring extra principal payments and a single one-time extra principal payment applied at a chosen payment number. Returns adjusted payoff time, total interest and interest saved compared to standard amortization.
Inputs
Advanced inputs
Recurring extra payment
Recurring extra payment (when both selected)
One-time extra payment
One-time extra payment (when both selected)
Results
Scheduled payment per period (no extra)
$435.55
Payment per period including recurring extra
$435.55
Estimated number of payments until payoff
—
Estimated payoff time (years)
—
Estimated total interest (with extra payments)
—
Estimated interest saved vs no extra
—
| Output | Value | Unit |
|---|---|---|
| Scheduled payment per period (no extra) | $435.55 | currency |
| Payment per period including recurring extra | $435.55 | currency |
| Estimated number of payments until payoff | — | payments |
| Estimated payoff time (years) | — | years |
| Estimated total interest (with extra payments) | — | currency |
| Estimated interest saved vs no extra | — | currency |
Visualization
Methodology
Calculations use a periodic-rate amortization model: periodic rate = APR / payments per year. The scheduled payment is computed from the closed-form amortization formula. When a one-time extra is specified, the tool computes the remaining balance immediately before that payment, subtracts the extra amount, then recomputes remaining payments assuming the same per-period payment plus any recurring extra.
For recurring extra payments the tool treats the combined per-period payment (scheduled payment + recurring extra) as the new per-period payment and computes the number of periods until payoff using the logarithmic closed-form solution. Interest saved is the difference between total interest in the baseline schedule and the adjusted schedule.
Worked examples
Example 1: $50,000 principal, 6.5% APR, 15 years, monthly payments. Adding $100 recurring to each payment reduces payoff time and total interest; the tool shows estimated years saved and interest saved.
Example 2: Same loan but applying a one-time $5,000 principal payment at payment 12 reduces the remaining balance immediately; the tool recomputes remaining number of payments and updated interest.
Further resources
Expert Q&A
Does this calculator account for fees, insurance or taxes?
No. This tool models principal and interest only. Fees, taxes, insurance and other escrow items are excluded unless entered as part of the loan amount.
Are results exact for every schedule?
Results are mathematically consistent with standard amortization formulas for fixed-rate loans and the assumptions stated. However, small differences can occur versus lender statements due to rounding conventions, daily interest accrual, payment timing variations, or different application order for extra payments.
Can I use this with biweekly or weekly payments?
Yes. Choose the payment frequency (monthly, biweekly, weekly). The tool converts APR to the corresponding periodic rate and applies the same formulas.
What happens if a one-time extra is larger than the remaining balance?
The calculator caps the remaining principal at zero. If a one-time extra equals or exceeds the remaining balance, payoff is immediate and the estimated remaining payments will be zero.
Sources & citations
- NIST - National Institute of Standards and Technology — https://www.nist.gov
- ISO - International Organization for Standardization — https://www.iso.org
- IEEE Standards Association — https://standards.ieee.org
- OSHA - Occupational Safety and Health Administration — https://www.osha.gov