Consider the Real Cost When Buying Your Next RV
Have you ever saved your money for something you really wanted?
Maybe as a kid you worked all summer long so you could buy that one special thing. The end of August came and you had enough to buy it. You rode your bike or had your mom drive you to the store, knew exactly where it was on the shelf, took it up to the clerk, handed over your hard earned cash, and had a huge smile full of anticipation on your way home.
You ran inside, tore open the packaging, and your heart sank to your toes. It hit you like a ton of bricks, your joy turns to defeat as you realize it needs 6 D batteries that you don’t have.
How did that make you feel … total dissapointment.
Now, imagine going through the process of buying your next RV thinking you know what you don’t know and when you go to write that check or take out a loan there are multiple costs that you weren’t aware that you’d need to consider? How will that make you feel?
STRESSED and PRESSURED … I know, I’ve been there!
After making too many costly mistakes when buying my first two RVs, I finally took the time and figured out how to ‘get it right’ on my last RV purchase. Here are some helpful tips I learned from others and my own personal experiences that helped me and my family.
3 Ways to Count the Real Cost
#1 It ALL Ads Up.
The ‘little things’ that you might not have thought about can quickly add up. Things like interest cost on your loan, loan insurance costs, extended warranties, taxes, delivery charges, prep charges, hitching systems, insurance, toilet paper, and many, many more.
Don’t get lazy and hope it all just works out. Knowing what your real costs will make you a more confident RV owner!
And don’t get discouraged, doing some due diligence will allow you to know where your money is going and not be squeezed into spending too much.
TIP 1: Always ask … is there any give-way or sales promotion that I could decline to lower the cost? At a minimum it opens the door for further conversation about lowering the price.
TIP 2: Renting an RV first can be a great way to really experience the RV before buying.
#2 After You Buy
It makes me sad when I have campsite ‘neighbors’ that have only camped once or twice in an entire summer because they had the money in their budget to buy an RV, but bought a little too much camper and now they find it hard to come up with the funds to go camping more often than just a couple times each summer.
Here are some ‘after the sale’ costs to consider…
- Campsite – Minimum of $25+ for public and $35+ for private – per night. Parks and resorts with more amenities will cost more.
- Fuel – Towing lowers your mileage to an avg of 10 to 13 miles per gallon. Planning ahead for how you will be using your RV helps you count fuel cost.
- Food – Cook normally and it costs the same as home. Fun camping foods may cost a bit more.
TIP 1: Consider buying a smaller camper or cut back on options to keep your monthly payment lower. Saving $30/mo over the year is 3 more weekends of camping for your ‘family!
Tip 2: Rent out your RV and make money while you aren’t using your RV. This is a great way for someone else to pay off your RV
#3 Make a List
I’ve heard it said before ‘failure to make a plan, is planning to fail’ and having a good plan means writing it down!
If you go to buy your next RV and you are prepared, know your true costs, and have a list you can ‘check off’ as you go through the process, you’ll not overspend and whomever you are buying from will take you very seriously.
Did you know … the Ultimate RV Buyers Guide Bundle has budget sheets, ‘before you buy’ checklists, and lots of other helpful info to help you purchase your next RV confidently and saving as much money as you can? I encourage you to check it out.
Did you miss out on any other lessons in the 3 RV Buying Lessons in 3 Days FREE email course? You can get them all here.