The cost of an RV extends far beyond its sticker price. Many different factors influence what your RV lifestyle will end up costing, which is important to consider when making your budget. No one wants to end up spending more than expected to buy or use their RV! That’s why we created the following guide to the full cost of RV ownership. If you have any questions or want to explore RVs for sale, head over to Day Bros. RV Sales. Our dealership is located in London, Kentucky, and Lake Park Georgia.
The RV’s Asking Price
The first expense to consider is the model’s sticker price. The exact cost can vary widely depending on various factors, including:
- The type of RV. Towable RVs tend to be more affordable. Motorhomes, with their complex engine systems, tend to cost more.
- The size of RV. Larger models require more building materials, which drives up the price.
- The features. Models with more luxurious features, such as a fireplace or tire pressure monitoring unit, will cost more.
- The age of the RV. New models from previous years will cost less than the latest model. Used RVs will cost even less due to the effects of depreciation.
- The time of year. RV dealerships see a decline in sales during the off-season. The dealerships will, in turn, offer better deals and savings to entice customers to buy.
The RV Loan
Those who pursue an RV loan will end up paying interest, which is an added cost. The amount owed will depend on factors including:
- Your credit score
- The amount of the RV loan
- How long you are borrowing
- Whether the loan is for a new, used, refinanced, or full-time living RV.
Taxes And Registration Fees
There may be certain fees involved with an RV purchase, such as sales tax, property tax, and a registration fee (which may be paid once or need to be renewed every year). There may also be tax benefits available, such as perks for those buying an RV for their primary residence.
The insurance amount will be determined by different aspects, including:
- The value of the RV. More expensive rigs will cost more to insure.
- Your driving record. The better your driving record, the less you will pay.
Once you’ve purchased an RV, the next step is to consider the ownership costs. In general, the more often you travel, the more you will spend. There are many aspects that go into travel costs.
Fuel costs are influenced by:
- The fuel efficiency of the tow vehicle or motorhome
- How fast you drive
- How much weight you haul
- How far you drive
- Whether you do the research to find the most affordable gas stations along your route
Maintenance costs are influenced by:
- The type of RV. Motorhomes come with an engine, which requires more maintenance.
- Your investment in preventative maintenance. The better you care for your RV, the less you’ll spend on repairs and service department visits.
If there’s no room to store the RV on your property, you will need to pay storage fees.
- Depends on the campsite. For example, some require you to pay for electricity.
- Depends on the type of camping you do. Boondocking involves traveling without using any campsite utilities. You won’t be paying the campsite, but you will need to bring along enough water (which costs money).
The campsite cost depends on:
- Its popularity. More iconic spots will cost more.
- Its location. Proximity to larger cities, tourist destinations, popular natural attractions, and other perks will drive up the price.
- Its features. Places that offer amenities, such as a pool or laundry building, will cost more.
- Its work options. Many campsites allow visitors to exchange work for free accommodation.
We hope you found this guide helpful! For more information or to shop RVs for sale, chat with the experts at Day Bros. RV Sales. Our friendly staff is happy to help with whatever you need, from answering questions to making model recommendations. You’ll find our RV dealership in London, Kentucky, and Lake Park, Georiga.