Buying an RV requires thorough research because it is not an easy decision to make. It is not just about buying an RV. You need to learn how to tow and drive it. Knowing how to maintain and when to take your vehicle to the shop are also essential. An RV is a long-term investment. This is why if you decide to own one, you need to take full responsibility in keeping it in great shape. It is also vital that you understand the picture that investing in RVs entails.
Factors to consider when purchasing an RV
Once you have decided to take the plunge, there are several factors that you need to consider:
- The reason you are buying an RV
- The person who will be responsible for the RV
- The place where you will be taking the RV to
- The type of RV
- The features you need
- The features you want
Many choices will make the selection process a bit overwhelming. You can narrow down your selection by knowing what you need and what you want. Having an RV offers plenty of benefits. You can add features or customize them based on your preference.
Types of RV
RVs come in different types. You have to know each of them, so you will understand their functions and give you an idea of the kind of RV you need. These types are towables and motorhomes. Towables will require a separate vehicle for it to be towed. The motorhomes, on the other hand, can be driven. The type of RV you choose will depend on your comfort level. When it comes to the cost, both types entail the same expenses. The only difference is the feature that comes with the vehicle.
If you prefer towables, then you also have to invest in a towing vehicle. Some of the towable vehicles you can buy are SUV and trucks. So when purchasing towables, you should also consider the towing vehicle as part of the expense. If you already have a towing vehicle, you will need to factor in comfort when searching for towables.
When easing yourself into the RVing lifestyle, truck campers, small travel trailers, and pop up campers are ideal for you. If you want more room, choose mid to larger travel trailers. More often than not, most towables have the same features and functionality, but they differ in size.
Should you finance an RV?
Once you have decided the type of RV you are going to buy, the next thing you need to work out is your budget. RV is a significant investment that requires a vast amount of money. This is why many RV dealers are also offering to finance through a variety of lending firms. You can finance your RV by taking out a car loan from your bank or a third party lender. However, you need to make sure that you have a good credit score. You also have to check how much you are willing to pay for the down payment.
Financing, without a doubt, is easier said than done. If you have the option to finance through your RV dealer, you will be able to get the closest interest rates as your bank so long as you have good credit. If you decide to finance your RV through a third party lending firm, expect to pay a higher interest rate.
Buying a new RV
A new RV takes a few weeks to assemble. There are some cases when you get the RV directly from the manufacturer. This means that the vehicle aside from being brand new is also packed with features. This can be the most expensive option to consider, but it comes with plenty of benefits.
Getting a full warranty from the manufacturers is one of the benefits of buying a new RV. There is no need to worry about wear and tear, damage or other issues because your vehicle is new. You can also customize the car based on the color or room layout of your choice.
Keep in mind though that when you are buying a new RV, you will also have higher insurance premiums. There is also a substantial likelihood of investing in a towing vehicle if you do not have one. You might also be required to shoulder additional expenses if the RV or trailer has not yet been customized.
If you prefer to buy a used RV, you can save money and get cheaper insurance. You can also repair, upgrade components and customize the vehicle. However, used RVs also have their own set of drawbacks. You will not know if there is damage as it is sometimes invisible. This will mean that you need to invest in repairing the RV before hitting the road. The upgrades can also make you spend a significant amount of money.
