How long before you pay off your RV loan?

Is your RV paid off? If so, bet it feels good, eh? Or maybe you paid cash for it, so you never had a payment to begin with! Ya rich or something? We’re kidding — good for you!

But for most RVers, monthly payments are a fact of life. How much longer will it be before you make your very last payment? If you pay extra every month or are paying off the loan in some other creative way, just estimate how long it will be before you own the RV’s title, not your bank or other lending institution.

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12 Thoughts to “How long before you pay off your RV loan?”

  1. Vanessa

    As soon as my house sells. It goes on the market in a week.

  2. ReneeG from Idaho

    I selected 1 – 2 years, because there wasn’t an option for less than one year. We have 7 months, but that’s because we have quadrupled the payment to become debt free. We’re keeping this one. It is a high quality unit.

  3. John Rakoci

    The F350 purchased new in 2016 is paid for. No way was I going to take money out of the bank instead of a 20 year 2.5% loan in 2017. With trade, cash down the loan on the new Montana was not that bad but will be paid off before the 5er is 5 years old.

  4. Bill

    I would have answered “I don’t know” but that wasn’t a choice. Our payment is what fit our budget, we’ll make up or take out whatever difference there is when we trade or sell.

  5. Dennis

    Camper paid for, truck is another story…..

  6. Ken Quick

    Always pay cash upfront for toys. Never finance fun.

  7. D. Yoesting

    Purchased our RV in 2013. We actually sold it this past April and owed a lot on it. To make the sale we had to pay $10,000 in cash in addition to the amount we received for the RV to complete the sale.

  8. robert austin

    When we went looking to get back to camping we had a budget that we would stick to. We had so much put away for one and that was all we intended to spend. Our old adage was if you can’t pay for it you don’t need it. In our 50 years of marriage we only financed one car and that seemed like it was forever. We bought a 2006 with 13000 miles and in the last 3 years have put 19000 on it. Being a 2006 means its well built with many nice features not found in new ones.

  9. Henry Hoyt

    Set-up my loan through my bank, not some money grabbing finance company, better all around experience.

  10. TravelingParkers

    We bought the same year we retired. Rather than cash out our investments, we opted for the 20 year loan with enough down payment to have the value at least down to drive off the lot depreciation. If we have to sell before we are ready, we will need to cash out. We are houseless, and our motorhome is our house, the loan is our mortgage . Although it depreciates whereas a house does not (hopefully but not always), taken into account taxes and ROI, 20 years made sense. Even a 5 year loan might not make sense if the person is doing that just so they can afford the RV and could not purchase otherwise. The amount of years left as a data point alone does not show the whole picture.

  11. Troy

    I still have 19 years to go if I only make minimum payments, but like everything I finance I always find a way to pay it off in much less time.

  12. bloom

    In the long run, we found it more cost effective to refinance the house and purchase the camper outright.

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