Estimate your monthly RV (recreational vehicle) loan payment, including sales tax, fees, and total interest.
Rates as of Q2 2025 (example)
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This calculator estimates your monthly RV (recreational vehicle/motorhome) loan payment, total interest, and full amortization schedule, accounting for the RV's price, any down payment or trade-in, sales tax (GST/PST/HST), and registration/documentation fees rolled into the loan.
Sales tax is calculated on the RV's price minus any trade-in value, and the resulting tax amount plus any fees are added to the loan amount (after subtracting your down payment and trade-in), then amortized over the loan term using the standard loan payment formula.
Formula: Taxable Amount = RV Price − Trade-In Value. Sales Tax = Taxable Amount × (Tax Rate ÷ 100). Loan Amount = RV Price − Down Payment − Trade-In Value + Sales Tax + Fees. Monthly Payment = [Loan Amount × Monthly Rate] ÷ [1 − 1 ÷ (1 + Monthly Rate)Months].
Example: An CA$80,000 RV with a CA$10,000 down payment, no trade-in, a 12% sales tax rate (example — enter your province's rate), CA$500 in fees, a 7% interest rate (example rate — enter your actual rate), and a 15-year term would have a sales tax of CA$9,600 and a loan amount of CA$80,100, resulting in a monthly payment of about CA$719.96 and total interest of roughly CA$49,493.06 over the life of the loan. (Note: this example is for illustration purposes only.)
RV financing in Canada is offered by banks, credit unions, and lenders specializing in recreational vehicle loans, often with longer terms than typical auto loans - terms of 10 to 20 years are common for higher-priced motorhomes and travel trailers, reflecting their cost and expected lifespan, though longer terms mean significantly more total interest paid. Unlike boats, RVs are generally registered and licensed through your provincial vehicle registry similar to a car, and most provinces require RV insurance for road use. Sales tax (GST plus applicable PST, or HST depending on province) applies to RV purchases, and many buyers roll this into their loan rather than paying upfront. RVs - especially motorized ones (motorhomes) - tend to depreciate relatively quickly in the first few years, similar to vehicles, so a longer loan term combined with rapid depreciation increases the risk of owing more than the RV is worth for an extended period. Ongoing costs beyond the loan payment include insurance, winter storage (since most of Canada has a limited camping season), maintenance (especially for motorized units with engines and chassis to maintain), and fuel - motorhomes in particular often have significantly lower fuel economy than passenger vehicles, which is an important budgeting consideration for those planning extensive travel.
RV loans often have much longer terms (up to 15-20 years for higher-priced units, versus typically 5-8 years for cars), reflecting the higher cost of motorhomes and travel trailers. Otherwise, the basic structure is similar - a secured loan against the RV, with sales tax and fees often included in the loan amount, repaid through regular amortized payments.
Yes - in most provinces, RVs (whether motorized motorhomes or towable trailers) are registered through your provincial vehicle registry and require insurance for road use, similar to a car. Insurance requirements and costs can vary depending on whether the RV is motorized and how it's used (full-time living versus occasional recreational use).
Because RVs - especially larger motorhomes - can cost as much as a house in some cases, lenders offer longer terms (up to 20 years) to keep monthly payments manageable. However, a longer term means paying significantly more total interest, and since RVs depreciate over time, a long loan term increases the risk of owing more than the RV is worth for many years.
Beyond the loan payment, RV ownership typically involves insurance, winter storage (since most of Canada has a limited camping season and RVs need to be winterized), regular maintenance (especially engine, chassis, and systems for motorized units), campground/site fees when traveling, and fuel - which can be a significant cost for larger motorhomes with poor fuel economy.
Used RVs are generally cheaper and have already absorbed much of their steepest depreciation, which can reduce the risk of being underwater on a loan - however, used units may come with higher maintenance needs or shorter remaining lifespans for certain systems (roof, appliances, etc.). Compare the total cost of financing (including interest) for new versus used options, not just the purchase price.
Yes, as this calculator illustrates - sales tax (GST/PST/HST depending on your province) is commonly added to the loan amount along with any fees, rather than paid upfront. While this makes the purchase more affordable initially, remember you'll pay interest on the tax amount over the life of the loan.
Disclaimer: The information, rates, and figures provided on this page are for educational and illustrative purposes only and do not constitute financial advice. The interest rate and sales tax rate used are examples only and do not represent rates currently offered by any specific lender or province - actual rates depend on the lender, your creditworthiness, the vehicle, and your province, and change frequently. Always compare offers from multiple lenders and confirm sales tax and registration requirements for your province and vehicle type.