RV Loan Refinance Calculator
This calculator helps RV owners evaluate whether refinancing their existing loan is likely to save money and how switching to bi‑weekly payments changes interest costs. Enter your current loan details and the refinance offer; the tool compares periodic payments, total interest, and net savings.
It supports fees and an optional balloon (residual) payment. Results are estimates intended for planning and decision support; always verify final terms with your lender and read loan disclosures for exact APR, fees, and payment schedules.
Compute periodic payments, total interest, and net savings comparing your existing loan to a refinance offer using the same amortization formulas for both payment frequencies.
Inputs
Results
Current periodic payment
-$4.17
Current remaining interest
-$50,250.00
Refinance periodic payment
-$3.51
Refinance total interest
-$50,710.42
Estimated net interest savings
$460.42
| Output | Value | Unit |
|---|---|---|
| Current periodic payment | -$4.17 | currency |
| Current remaining interest | -$50,250.00 | currency |
| Refinance periodic payment | -$3.51 | currency |
| Refinance total interest | -$50,710.42 | currency |
| Estimated net interest savings | $460.42 | currency |
Visualization
Methodology
The calculator uses standard amortization (annuity) formulas: periodic payment = principal × r / (1 − (1 + r)^−N), where r is the periodic rate and N is the number of periods. For refinance calculations the principal is current balance plus disclosed fees.
Bi‑weekly schedules are modeled with 26 payment periods per year. The tool computes total interest by summing periodic payments plus any balloon and subtracting the financed principal (balance + fees).
Outputs intentionally use conservative assumptions: interest computed on scheduled amortization without optional extra payments unless you explicitly change the payment frequency to bi‑weekly.
Key takeaways
Use the 'Refinance vs Current Loan' view to see a side‑by‑side comparison of periodic payments and total interest.
Use the 'Bi‑Weekly Payment Effect' view to estimate additional interest savings and payment differences when moving to 26 payments per year.
All outputs are estimates. Confirm with lender disclosures before making financial decisions.
Further resources
Expert Q&A
Does the calculator include fees when comparing refinance offers?
Yes. The refinance principal equals your current balance plus the refinance fees entered. Fees increase the financed principal and reduce net savings accordingly.
How is bi‑weekly different from making half‑monthly payments?
Bi‑weekly means 26 payments per year (every two weeks). Half‑monthly (twice per month) results in 24 payments per year and a different effective schedule. This tool models true bi‑weekly schedules as 26 payments per year.
Are results exact?
Results are estimates. Actual loan documents, rounding rules, and lender accrual methods can change payments and total interest. Use estimates for planning, and verify numbers with lender disclosures.
What if I already make extra/irregular payments?
This calculator assumes only the scheduled payments you select. To model extra principal prepayments, subtract the extra principal from the balance or use an amortization schedule tool that supports additional payments.
Sources & citations
- Consumer finance principles and loan disclosure guidance — https://www.consumerfinance.gov
- NIST Cybersecurity Framework (controls recommended for financial tools) — https://www.nist.gov/cyberframework
- ISO 9001 Quality Management (relevant to process validation and testing) — https://www.iso.org/iso-9001-quality-management.html
- IEEE 754 floating point standard (numerical accuracy guidance) — https://standards.ieee.org/standard/754-2019.html