It’s not an easy decision to buy an RV. It’s not just about buying an RV. It is learning how to drive and tow an RV. It is learning maintenance, and when it should be taken to the shop. It’s about learning to deal with the sticker shock that comes with gas prices and mileage.
An RV purchase is an adventurous, long-term investment . However, it is not for everyone. This guide will help you understand the whole picture of RV ownership.
Consider these Things
Before you make the leap, here are some things to consider before you budget for a vacation.
- Why would you buy a house?
- Who is the RV you are buying?
- Where do you want to go with your family?
- Do you prefer to drive a motorhome or to tow your trailer?
- What features are you looking for?
- What features are you looking for?
Before you sell my motorhome fast, it is important to determine exactly what you need and not what you want. An RV’s greatest advantage is the ability to customize it and add new features down the road, just like a house or condominium. You might not want to invest now, but you can save money by planning for the future.
Which type of device do you need?
Before you buy an RV, there are two important things to think about. There are motorhomes, and towables.
Motorhomes can be driven but towables need to be pulled behind a vehicle. Towing is expensive depending on your comfort level. It all comes down to what towable you choose to purchase, such as a fifth-wheel RV or travel trailer.
To tow an RV, you will need a towing vehicle such as a truck or SUV. This is an additional expense that you should consider when planning your budget. It’s easier to learn how to drive while towing if you already own a towing vehicle.
The best way to get started with RVing is by renting a small trailer, truck camper or pop up camper. If you are looking for more space, a fifth-wheel RV or a large travel trailer is the best option.
Although most fifth-wheel and camper towables have the same features and functionality, it can be down to the size of the RV or trailer. This is due to the comfort of those using it. There are many types and styles of RVs. Do your research to make an informed decision.
After you have decided on the type of RV that you want, you will need to determine your budget and finance. Many RV dealers can finance your purchase through multiple lenders. To finance your RV, you can also get a loan from your bank.
Finance may be more difficult depending on your credit score and how much you are willing to pay for a downpayment.
You’ll receive interest rates that are comparable to those offered by your bank if you finance through your dealer. You’ll usually pay a higher rate of interest if you finance with a third-party lender. You should ensure that you are able to afford the monthly payment on your RV or trailer and to repay it early if possible.
Here are some things you should know about buying new.
A new RV is usually built in a matter of weeks to a few months. You may be able to purchase an RV or trailer directly from the manufacturer in some cases. This means the RV comes with all the customizations or features you selected at the dealer. This option is more expensive than buying an RV from a manufacturer.
- You receive a brand-new, top-of the line RV straight off the assembly line
- Full manufacturer warranty begins the moment you make the purchase
- When you drive off the lot, there is no need to be concerned about any damage, wear and tear, or other issues.
- You have the option to choose your own color, layout and other options.
- You can get exactly what your looking for at the price that you are willing to pay
- Depending on the features you choose, can be quite expensive
- Some RVs and trailers can be customized by the manufacturer. This will result in higher future costs.
- You may have to travel a long distance to have a trailer or an RV shipped to you if the local dealer doesn’t stock one.
- Insurance premiums will rise
- You may need to purchase a tow vehicle
Here are some things you should know about buying used
- It’s impossible to know how old an RV has been in production before you buy it.
- You may need to repair any issues that have developed on an RV used over time.
- A dealer, private seller or third-party can purchase a used RV. You should buyer beware when buying a used RV. You never know what could go wrong with it or what you will have to do in the future. These fixes can add up.
- It is possible to save significant amounts of money
- You can choose to rebuild, remodel and restore your RV according to your needs
- You may be able find the RV you are looking for that isn’t currently in production
- A used car will get you insurance at a lower price
- You can take the time to modify, repair and upgrade components
- It’s impossible to know what could go wrong with your body.
- It is possible that you are unaware of the RV’s depreciation in value.
- Damage might not be apparent. This means that you will spend more to repair your RV with or without insurance.
- Often, the warranty of the manufacturer has expired.
- You can spend a lot of money on upgrades
Do You Need to Buy a Used or New RV?
Both new and used RVs have their place. It’s cheaper to buy an older RV when you first start out. Although it is safer to buy an RV from a dealer rather than a private buyer you may still face problems that require your attention. You are covered by the warranty provided by the manufacturer and any extended warranty purchased through the dealer when you purchase a new RV. You have a safety net in case something goes wrong. This is not always true if you buy used.
Other expenses to consider
Remember that purchasing an RV is only half of the battle. You will need to pay additional expenses when buying an RV.
- GAP and insurance coverage
- Repair and maintenance costs
- Registration and insurance
- Propane, gas, and fuel
- Internet and cable access
- Parking where you can park on your trip
How to get the best price
Do you want the best RV deal? These 15 tips will help you get the best price for an RV from a dealership
- When looking at homes, keep all options open
- Check out auto financing rates from dealers and banks
- Wait patiently for the right deal to happen.
- To find the once in a life time deal, consider a show
- Buy at the end RV season, or the end month
- Your salesperson should be friendly
- Ask for a better deal and take risks
Look for the right incentives to make the price tag less expensive
What is the Best for Your Travels?
It can be expensive to get into RVing. It is costly to RV. It is more than buying a used or new RV. It includes everything from parking to repairs and insurance. It provides food for both on- and off-road. Once you park, it’s entertainment.
This may not be feasible for some families. Buying used could save them money. Others are more willing to invest upfront and reap the benefits later.
RVing is a long-term venture. You will be able make the best financial decision for your family if you understand the process before you start the purchase process. Although RVing can save you up to 50% on future vacations, it will still require you to spend a substantial amount upfront.