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3 Points to Consider When Purchasing an RV

Purchasing an RV can be a considerable asset, providing a roof over your head and unparalleled recreation opportunities. You might consider one a necessity if you and your family live for camping. However, such vehicles are also pricey investments. It pays to do your homework and know exactly what you want – and can afford – before you sign on any dotted lines. Before heading to the dealer or private seller, what should you keep in mind? Here are three points to consider when purchasing an RV. 1. Price and Value People buy RVs for various reasons. Soaring living costs have made many consider such alternatives instead of paying exorbitant rents. While it might sound responsible – and refreshing – to devote your monthly housing payment to something you own instead of making a landlord rich, you have to consider multiple factors before opting for such a lifestyle. One factor to keep in mind is that your asset will depreciate, unlike single-family homes that tend to gain value with time. Another consideration is the higher credit score requirement to secure RV financing, although some dealers will work with imperfect histories and grant loan approval. You can use an online rate calculator to get a sense of what you’re in for. Otherwise, you might have to pay cash. Unfortunately, RV prices have increased along with most everything else these days. How much can you expect to pay? It varies widely by vehicle type. Some luxury Class A motorhomes sell for more than manufactured homes, but most Class A through Class C models retail for $100,000 to $150,000. Pull-behind trailers typically cost less, but you’re still looking at five digits out the door unless you buy used and are handy enough to fix up your purchase. Considering the sticker price, you should think carefully before calling an RV your permanent home. This lifestyle can work – but it does take work, too. When you own or rent a home, you don’t have to worry about emptying your wastewater tanks and filling up with fresh water – you turn on a spigot and go. If you want light, you flip a switch. You don’t have to set up solar panels or start a generator. 2. Which Type of Vehicle to Buy Toy haulers. Fifth wheels. Class A through Super C motorhomes. You have a ton of choices when it comes to RVs. Your first determination is whether you want a Class A through C or a pull-behind model. The latter will save you considerable cash, but you’ll need a powerful enough truck to haul it. How big? A Chevy half-ton with a brake kit will tow a 22-foot toy hauler that’s empty, but if you load it with a quad or two, you need a full ton. The only RVs suitable for towing with many traditional SUVs are tiny teardrop and pop-up styles. However, you can get an RV with the truck attached as a Class A through C model. Here are your options and the differences between them: Class A: The largest and most like a typical home with ample slideouts. Class B: The smallest, least-expensive option that’s more like a camper van. Class C: A hybrid with a van chassis, slightly roomier than a Class B with ample beds for large families. Super C: Similar interior design with a larger chassis and powerplant. Pull-behinds also come in various types. Toy haulers are best for those who need floor space or transport dirt bikes – you can even pull a Jeep in many models. Travel trailers have more home-like amenities and sleeping areas, and fifth wheels tow from the bed of your truck instead of a conventional hitch. 3. Availability of Nearby Amenities You found a cheap RV one of your neighbours wants out of their yard. Bargains like this don’t arise every day – should you jump on it? The following questions can help you decide: Do you have a place to park? Many homeowners associations forbid parking RVs on the property, and municipalities limit parking on public streets. Paying for storage adds considerable ongoing costs. Do you have a place to camp? Folks out west can camp for free on Bureau of Land Management (BLM) parcels if they follow the rules. However, those who have to pay for the privilege could find their new hobby gets pricey quickly. Can you maintain your ride? Older RVs often have problems, especially if they sit idle for a while. Do you know how to turn a wrench? If not, repairs can cost thousands. Points to Consider When Purchasing an RV An RV can be a wise investment. However, it helps to know a few basics before spending your money. Consider the points above when buying an RV. Carefully planning your purchase prevents remorse and ensures the ride you choose will bring you joy for years to come.

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