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Is Owning An RV Worth It?: What There Is To Know!

Is Owning An RV Worth It?: What There Is To Know!

For many of us, the open roads seem to be calling to us endlessly. Especially, in the time of COVID-19 where work can be remote and moving out into wide open spaces might be the best move health-wise. But, how to get there? One option is to purchase an RV. What is an RV you might ask? An RV is an acronym for the term, “recreational vehicle.” A recreational vehicle is a regular vehicle but comes equipped with living quarters inside the vehicle. For this article, we at CashCarBuyers will answer the question is owning an RV worth it? We will outline some costs associated with owning an RV and also round up the top seven RV models on the market today. Read on to discover more! 


 

What Are The Costs Associated With An RV?

Great question! The answer simply put, it depends. For this article, we are just going to focus on the costs for if you were to purchase your RV and not rent one. Keep me in mind, buying an RV is like buying another type of vehicle. You will incur monthly lease costs depending on what type of loan or deal you receive from the company you choose to partner with. 

According to Camping World RV & Outdoors, they offer nine varieties of RV models each with its own price point. Later on in the article, we will look at all nine varieties and explore some of the features these RV vehicles can offer you and your family. For now, let’s look at some of the costs associated with an RV vehicle! 

1. Parking

One of the largest costs associated with an RV is parking. Wherever you drive your RV you may need to park overnight since you have no home to go to! If you want to ride the straight and narrow line, parking in an RV park is your best bet. If you would like to take your chances, you can try your luck parking in a free lot such as a Walmart or a Homedepot. Be aware, if you are caught parking in this non-designated lot it could mean a fine or you could leave with just a warning. However, never fear there are always plenty of parking spots in designated areas specifically for RV drivers. On average, a single night in an RV designated parking lot can cost anywhere from $25 to $85 depending on the location of where you park your RV. Keep in mind, if you have hookups that need to be added that may create an additional charge making your total up to $100 to $300 per parking stay.

 

2. Gas

Gas is a cost that comes with every vehicle but will certainly take center stage when you purchase and live in an RV. The cost of gas does certainly depend on the type of RV you plan to purchase. According to GoRollick, the manufacturers claim that RVs can get anywhere from 10-20 MPG. For a mid-size RV it would take about 25-150 gallons per fuel tank. With gas coming in at around $2.50-$4.00 each per gallon an entire fill up would cost about $60-$600. Keep in mind there may be seasons like the summer where you will be driving a lot which may drive up gas costs. On the contrary, there may be seasons or stretches of time where your driving may be curbed which will drive down the ultimate cost of gas. Balance is key when trying to budget in gas prices for your RV driving adventures.

3. RV Insurance

Much like a regular vehicle an RV needs insurance. Looking at insurance from a yearly perspective RV insurance averages from $500 to $1,000 annually. Some popular brands of RV insurance are Good Sam, National General, and Progressive just to name a few. In addition, if you plan to add a trailer to your RV that may add about $250 per month for your RV insurance. One of the best ways to find insurance for you is to shop, shop, shop! Looking around at each brand, company, and debt plan will ultimately ensure you choose the best RV insurance for you and your family.

 

Nine Unique Models of RVs 

Now that we have checked out the top three costs of owning an RV, let’s take a peek at some of the RV models currently on the market. Keep in mind, these are not ranked in any order. 

1. The Travel Trailer

A travel trailer is an adventurous vehicle that comes in all shapes and sizes. The travel trailer offers models that can sleep up to 4 or a cozier option that can sleep up to two individuals. Some features of the travel trailer include spacious interiors, slide outs, and some travel trailers even come with ovens built into the interior!

 

2. The Fith Wheel RV

The Fifth Wheel RV is a unique RV for the long-haul driver. The difference in the fifth wheel RV is the forward section that provides a spacious bi-level floor plan. In the fifth wheel RV, you can add in luxuries such as extra furniture and perhaps even an extra shower! These RV models are designed to be towed by a pickup truck equipped with a device known as a fifth-wheel hitch.

 

3. The ToyHauler RV

Much like the name, the ToyHauler helps RV drivers haul their boats, vehicles, or animals around! The ToyHauler RV is set apart from most RVs due to the large opening and ramp door, typically in the rear. Some unique features that can be found in the ToyHauler RV are aluminum wheels and a retractable screen for movie nights galore!

 

4. The Pop-Up RV

The Pop-Up RV is probably the most classically visually for most drivers on the open roads. The “pop up” portion of the RV is the fold-down trailer that when opened can create a fantastic space for you and your family to share and enjoy. Many vehicle professionals state that the Pop-Up RV is the best one for the most inexperienced RV driver. 

 

5. The Small Camper RV

The Small Camper RV is one of the more basic models of the RV. The Small Camper RV is a compact vehicle that allows for easy towing due to its lightweight frame. Even though the name is the Small Camper RV, you will be able to find models that allow for guests of up to two or four people, maybe even the family pet can tag along! Some features of the Small Camper RV are exterior of fiberglass sidewall and an interior that can be powered by solar energy.

 

6. The Class A Gas Camper RV

The Class A Gas Camper RV is one of the larger RV options out there on the market. The Class A Gas Camper RV can sleep up to 5 or even up to 7 individuals! Some special features of the Class A Gas Camper RV like bunk beds and large exterior windows for viewing out at the open roadways. One important item to note is this model of RV uses gasoline contrary to its partner the Class A Diesel which is coming up on our list! 

 

7. The Class A Diesel RV

What sets apart the Class A Diesel RV is the engine. Specifically, this RV is powered by a diesel engine mounted in the rear of the RV. Some features that can be included in the Class A Diesel RV can be interior Wi-Fi and a washer/dryer system inside your RV.

 

Is An RV Worth It? The Wrap Up

Well, here we are, folks! We at CarCashBuyers hope you enjoyed this article and we hope it helped you on your way to finishing your RV journey. We ran down the three biggest costs associated with purchasing an RV vehicle from gas to insurance. Next, we listed seven RV models that you may want to consider purchasing down the road in your RV experience. Lastly, if you are someone who owns an RV and wants to sell or learn more information about the entire experience contact CarCashBuyers today! We are excited to meet you and want to make your selling or trade-in experience amazing.