How Much Does an RV Cost to Own?

Are you thinking about getting an RV?

There’s no denying the benefits of owning a recreational vehicle. The ability to plan a trip anywhere in the country, pack up, and go without having to worry about hotel costs or amenities is something special, but how much does an RV cost to own?

In this post, we’re going to break this issue down by looking at what it costs to purchase an RV, maintain it, keep it fuelled up, and maintain it over a long period of time. If you’re weighing the costs and benefits of owning an RV, keep reading because this is a great place to start.

How Much Does an RV Cost?

Purchasing an RV requires you to sit down and figure out what it is that you need. The price range is wide and depends on the size, age, and amenities that you want in your RV. For instance, you can get a small trailer that will get you through camping trips with some of the comforts of home for as little past $10-15,000.

If you’re looking for a new, large RV that you could tour the country in, it’s going to be well into the six figures. A smaller RV or fifth wheel will run you between $50-100,000. Shopping for used RVs will help you cut costs, but the cost of maintenance may go up. 

Maintenance Costs

The cost to buy an RV is one thing – the cost to own one is something else entirely. For instance, like any other vehicle, you’ve got to insure your RV, which will likely come in somewhere around $100 per month. You also have to take regular maintenance into account.

When you go on long trips with your RV, you always have to make sure everything’s in good working order before you leave. Due to the heavy use, paying for wear and tear alone is going to set you back every year. Prepare for a few thousand dollars per year of general maintenance and repair costs.

Logistical Costs

Fuelling up an RV isn’t like filling up your sedan. It’s going to cost a lot more and if you’re towing a car, the extra weight is going to hurt your fuel economy.

Gas prices waver, but you’ll always pay a premium to get your RV from point a to point B. When you’re not using it, you’ll have to store your RV, which can be cheap if you find a good storage facility. Google storage units near you (ie. Fairhope storage units) and choose one that can accommodate your RV at an affordable rate.

You’ll need supplies for your RV as well. It’s a motor home, so you’ll need to fill it with all of the comforts of home, like food, dishes, cutlery, and toilet paper. This is where your RV actually saves you money because it’s always cost-effective to sleep in an RV and eat your own food than get it from hotels and restaurants.

Should You Own an RV or Not?

So, how much does an RV cost to own?

It really depends on the type of RV you get, how much you use it, and your lifestyle on the road. If you’re a family that enjoys going on long road trips, then an RV could save you massive amounts on hotel and food costs, but there’s no denying that they’re expensive to buy and maintain. Our advice would be to make a pros and cons list for owning an RV and follow your gut.

Did you enjoy this post? Come back again for more on finance, automotive, and travel.

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