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What Is the Real Cost of Owning an RV?

Nov. 4 2021 Buying Guide By Victory Custom Trailers

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If you’re an adventure enthusiast and you are searching for ways to spend quality time with your family while exploring the great outdoors, purchasing a recreational vehicle will be an ideal option for you. However, as someone new to this lifestyle, you might worry about the ownership costs. That’s why our experts at Victory Custom Trailers have created this guide to highlight a few expense heads you’ll want to consider before you buy an RV. If you have more questions, get them addressed by our friendly team. We’re in Metamora, MI, where we happily welcome our patrons from Detroit and Flint.

Your RV’s Sticker Price

The first expense you’ll want to consider is the model’s sticker price. Though the exact cost can vary, they’ll likely include factors, such as:

  • The size of the RV.
  • The type of the RV—towable models or motorhomes.
  • The age of the RV—new campers or used rigs.
  • The time of year—better deals and discounts during the off-season.

The RV Loan

If you’re considering pursuing an RV loan, you’ll need to think about:

  • The interest.
  • Your credit score.
  • Your total RV loan amount.
  • The duration for which you’re borrowing.
  • Whether the loan is for a new, used, refinanced, or full-time living RV.

Taxes and Registration Fees

As an RV owner, you’ll also need to consider the fees that come with buying a rig, including your sales tax, property tax, and registration fee. You will want to make sure you check with your financial advisor whether you’ll need to make a one-time payment or renew them every year of your ownership. Also, double-check if you are eligible for any tax benefits.

Insurance

Next, you’ll need to consider the insurance amount, which will likely include the value of your RV and your driving record—the better your driving skills, the less you’ll need to pay.

Travel Costs

Finally, you’ll also need to figure out your traveling cost. Though this will vary depending on where and how frequently you travel, some aspects will likely be influenced by:

  • How fast you drive.
  • The weight you are transporting.
  • The distance to and from your campsite.
  • The fuel efficiency of your tow vehicle or motorhome.

Also, you’ll want to consider your rig’s maintenance cost. This will depend on the type of your RV—motorhomes require more maintenance compared to towable models. We recommend our customers to perform preventative maintenance of their camper, as the more you care for your RV, the less you’ll need to spend on repairs and service department visits.

In addition, you'll want to consider any storage costs and utility costs like the fees you’ll need to pay for using various facilities at your campsite.

We hope this guide offers you some insight into the expenses you’ll need to make after buying your RV. For more questions, come down to Victory Custom Trailers and chat with our friendly experts. We’re in Metamora, MI, and we are proud to serve those from Detroit and Flint, so reach out today.