Knowing your goals will help you choose the right RV and financing
With so many styles and models of RVs available to choose from, to help narrow down your options so you make the right choice, you should be clear about the reasons for buying it. The best place to start would be to consider:
What sort of travel or camping will it be used for?
Some people plan the occasional weekend trip away, while are others do it far more regularly. Or you may enjoy hitting the road for 2-3 weeks at a time.
Those who are fortunate enough, or in retirement, may go on a cross-country road trip lasting a number of months. At the same time, think about how many people are likely to be travelling on a regular basis and the amount ‘essentials’ that will have to be packed away for the ride. This will determine the size of the RV, which will play a big role in terms of total cost.
Choose the right type of RV.
There are a number of different types of RV on the market. From Class A-C motorhomes (class A being at the luxury end and class C the most affordable), to travel trailers, fifth wheel trailers, pop-up trailers, SUV trailers and truck campers. Look at the pros and cons of each type to find the one that fits in with your needs, lifestyle and budget.
Be prepared to negotiate.
The value of your RV will depreciate as soon as you drive it off the lot, dropping anywhere between 10-20% depending on the model. This is because the ‘true’ price of the RV has been hidden by the mark-up added to the vehicle by the dealership after receiving it from the manufacturer. So it makes sense to negotiate a good deal with the dealership and to see how much you can reduce the cost.
Consider the second hand market as an option and also whether you need to customize the RV straight away – this can save you a lot of money being spent upfront. Buying at the end of the season is also a good strategy, as the dealership may be more eager to offer a discount to secure a sale.
