What are the pros and cons of owning an RV? (own vs lease)
In this blog post, we will answer the following question: What are the pros and cons of owning an RV? We will discuss the advantages of owning an RV versus renting an RV.
What are the pros and cons of owning an RV?
Of course, owning an RV will have its pros and cons. Truth is, RV life is not for everyone, so we are glad that in this article we are able to talk about the things you must love about recreational vehicles, but also about the downsides of owning a house-on-wheels!
The pros of owning an RV are:
- Packing is so much easier.
- You know your vehicle well.
- You can venture out at any time.
- You can live in a motorhome.
- It is a lifestyle.
- RV ownership cost.
- The cost of maintaining a motorhome.
- The cost of storage.
The cons of owning an RV include:
- The cost of maintaining a motorhome.
- The cost of storage.
- There are limits to where you can go.
- Space can be a problem.
Is it better to rent or buy an RV?
You wouldn’t buy an RV if you only needed it for a few days, and neither would you rent a car to travel to Australia for a year, for example. So when is it better to buy a motorhome rather than renting one and when is renting better than buying?
You can answer it simply if we compare the two options from a purely economic point of view. Basically, it will say that if you are travelling for 8 to 12 weeks or less, you should probably rent an RV or go RVing. For a longer trip of 12 weeks or more, you should buy one.
It is clear that motorhomes are expensive so, whether for rental or sale, it is important to test the vehicle before buying.
The advantages of buying an RV
The first advantage of buying an RV is the total freedom it gives you. Indeed, the motorhome belongs to you and you can therefore take it wherever you want (whether by the sea, in the mountains or even next to an active volcano), for as long as you want. You will not be limited by the number of rental days, for example. You will therefore be the sole owner of your trip.
The majority of motorhome sellers offer a “Guaranteed Buyback” system. So if you buy a motorhome from a specific dealership, as long as the vehicle is not damaged, you are guaranteed to get some of your money back at the end of your trip. But don’t worry, you will also be able to resell it to another private individual.
The advantages of renting an RV are numerous
- You save time: If you have limited time, renting not only saves you money but also saves you time. Renting a motorhome is much faster and easier than buying one.
- Hassle Free: If you experience any issues during your rental period, this is the responsibility of the lessor. Usually, motorhome rental companies provide different types of protection, such as insurance.
- Cost effective for short trips: If you are only travelling for a short time, it makes more sense to rent. For 8 weeks, for example, buying a motorhome with a buyback guarantee of 4,500 euros may not fit your budget, but hiring the same motorhome for 40 euros per day is certainly more affordable.
Questions that you must ask yourself before purchasing an RV
- Where to park the purchased vehicle and what are the resulting costs?
- Motorhomes and caravans require a little manual labour from time to time. Can I do it myself or do I have to go to the workshop for every tidbit?
- What are the plans for the future? What about family planning? What are the prospects for health? How will my financial situation evolve?
- How important is it to me to own my own vehicle?
What about the feel-good factor that a rented vehicle provides compared to one’s own vehicle?
With a rented vehicle, I have to load the vehicle each time before going on vacation and unload it on my return. With my own vehicle, I can arrange everything to my liking and a lot of the equipment always stays in the vehicle.
The answers to the above questions and the individual situation can play a decisive role in the decision to buy or lease.
Arguments in favour of the purchase of an RV: If, besides the main holidays, you see other interesting opportunities to travel with your own vehicle, if you have the financial means and if you know where your paths will take you in the future, the purchase of your own camping- because can be an attractive option.
Arguments in favour of renting an RV: If you value flexibility, do not have a parking space and do not know exactly what the future holds for you, and if camping is really your preferred form of vacation, renting remains a particularly attractive alternative.
Opt for rental first
If this is your first experience, renting will be a way to find out if motorhome travel is really for you. While the van makes you feel at home and admires the scenery better, it is not for everyone. This first adventure will allow you to better understand the advantages and disadvantages of motorhome travel.
Also, even if you are an adventurer at heart, consider renting first before buying. As motorhomes are expensive, this option will be the way for you to find the model (the over-cab, the integral and the low profile) that best meets your expectations, before making your final choice.
Once you are sure you want to buy an RV, you will have to choose between buying a new motorhome and buying a used model. New models are generally recommended for people who are regularly engaged in the activity.
This is an expensive investment that is not accessible to all budgets. In this case, buy a motorhome from a dealer near you. In this way, it will be easier to tell him your expectations, if any rearrangements are necessary.
Used motorhomes are more recommended for those who use the van occasionally. This choice is also suitable for those in a hurry who are looking for a ready-to-use motorhome. You will have to choose from the many used vehicle offers available online.
The bottom line
FAQ on What are the pros and cons of owning an RV?
What do you have to take into account when buying a motorhome?
When buying a motorhome, you have to take into account so many things that it is best to involve each member of the family in the process. Give each person precise instructions. Do an eye check of the tires, electrical system, the condition of the furniture, etc.
How much does a motorhome cost?
The costs of a motorhome depend on whether they are pre-owned, new, large, luxurious, simple, etc. However, an estimate (from a used one to a new luxury one) is between $ 15,000 USD to $ 100,000 USD.
Should I buy a new or used RV?
Whether you should buy a new or used RV will depend on several factors, such as your budget and your main purpose. Price is the main advantage of buying a used unit. With a used RV, you get more for your money.
Which motorhomes have the best resale value?
The following are the RVs that have the best resale value:
- Grand Design
- Sun roller
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