What Is the Cost of Ownership for an RV?
If you're thinking about buying an RV, budgeting is a big part of the decision. The initial purchase price is only part of the equation — it's also important to consider the other factors that contribute to the overall cost of ownership. By estimating all of the potential expenses, you can choose the RV that's right for your situation. For more details, contact us at RVs and Boats For Less or visit our location in Chubbuck, Idaho, serving Idaho Falls and Pocatello, Indiana.
Tax, Financing Fees, and Insurance
As you look at the price of an RV, remember that it will increase when you add on fees. Sales tax can be high, especially if you're looking at RVs that are $15,000 or more. If you're financing the motorhome, expect to pay interest on the loan; some lenders also require you to have full-coverage insurance for the full term of the agreement. You can reduce these costs by choosing shorter loan terms and finding promotional offers with lower, fixed interest rates.
Fuel and Towing
Fuel costs are a big part of owning an RV — these large vehicles consume a great deal of gas. Take that into consideration, especially if you're planning long road trips. If you buy a travel trailer or a fifth wheel, you can expect to spend more on fuel. You may also need to upgrade the vehicle's towing package or invest in a new vehicle with enough power to tow a bigger camper.
Upkeep and Upgrades
Every RV requires regular upkeep, with the occasional repair thrown in for good measure. The exact expenses vary based on the age of your motorhome, how much you drive, and where you camp. If you stick to flat, paved roads and well-maintained campgrounds, you'll probably encounter fewer issues than if you're boondocking or exploring bumpy backroads. Older models often need more repairs and frequent maintenance than newer models. Thinking about buying an older RV and upgrading it? Costs for furniture, flooring, solar panels, tires, and comfort systems can add up quickly.
Variable Costs
Some of the expenses of owning an RV are harder to predict. Long-term storage can be surprisingly expensive, especially if you live in an urban area or you own a big rig. If you're thinking about an extended trip, keep in mind that some campgrounds have separate electricity charges for long stays. Speaking of campgrounds — the sites and amenities you choose have a big impact on overall costs. A full-hookup site can easily reach more than $100 per night in popular vacation destinations; dry camping is often free.
As you choose an RV, it's a good idea to consider how different models and travel styles affect the overall cost of ownership. If you're ready to check out the options in person, reach out to our team at RVs and Boats For Less. We also encourage you to visit our location in Chubbuck, Idaho; we serve RVers from both Idaho Falls and Pocatello, Indiana.
