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Old 04-05-2020, 12:42 PM   #1
jaxglide
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Rv’ing expense questions

Never owned a RV or TH. Curious about expenses . Cost to insure, maintenance (does the dealer have to an annual maintenance for warranty).

How long should one finance one of these to keep from getting upside down.

When it’s time to upgrade do you trade or private sale? Is it like a car when trading meaning you get tax relief ?
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Old 04-05-2020, 12:55 PM   #2
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I would think your upside as soon after you drive it off the lot but that depends how much money you put down. Debras writer insisted on 10 year lone . You can get a stand alone policy or combined with your truck. Stand alone policy is more money and I think it’s better insurance.
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Old 04-05-2020, 12:56 PM   #3
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Lots of variables. Buying new or used? New, you take the depreciation hit, used you don’t. Maintaining it depends on your skill level, and no the dealer doesn’t have to do an annual inspection unless you get duped into a “forever warranty”. Financing depends on your budget, large down payment and short term may keep you on the positive side. Insurance and registration fees will depend on what state and insurance company.

If you have a specific unit in mind, we may be able to point you in the right direction.
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Old 04-05-2020, 01:06 PM   #4
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Your header posed "RVing expense questions". There are lots of them. Maintenance is a must and needs to be done regularly. What you do and how often will determine the amount of money you spend and how hard you work.

Buying new and being upside down? You will be unless you are prepared to spend a LOT of money up front to prevent it. Some pay for the RV in its entirety, some pay a substantial portion down and some pay minimal. Some go without financing anything, some a little and some a lot. Short term or long term all depends on your finances. The thing to always remember is that new or old the only thing an RV does is plummet in value year to year. It's the nature of the beast....about like timeshare - but more versatile.

If you want to get into RVing just know those things up front and be prepared to love the lifestyle and what it offers. In doing so you can help justify the costs (moneywise and otherwise) in your mind and keep you from being one of those that wind up hating everything about it because things break or it costs too much money for what they perceive they get. When you understand the animal and what it costs you, then determine you're OK with it, you will find there is a huge benefit to having that RV sitting out there ready to take you on the trip of a lifetime at a moments notice....not a bad deal IMO.
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Old 04-05-2020, 01:41 PM   #5
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You dont have to buy new.find a decent used one. if it needs a few things fixed fix them and use it till it dies .you would be suprised home much life is still in them when. The original owner thinks it is ready for the bone yard.I bought a used motor home for $3500 used it almost full time on and off for 16 plus years and traded it for a used mobile home.The person who bought it fixed it up and a couple years later I bought it back with new upholstery new tires and running good.i put close to another 100 thousand miles on it and sold it again for $2200 the buyer was very happy to get such a deal on it.all total I put 200 thousand plus miles on it.
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Old 04-05-2020, 02:10 PM   #6
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You've heard BOAT stands for "Break Out Another Thousand". I've had boats and RVs most of my adult life. A boat is trouble free compared to a RV.
If you go into it expecting issues you won't get near as frustrated. Just enjoy using it and learn how to deal with the problems. Don't let it eat you up.
Both my current RV's were bought very lightly used, or so they said.
edit add: do not believe one word a RV salesman says.
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Old 04-05-2020, 02:18 PM   #7
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Old 04-05-2020, 02:49 PM   #8
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The 1st question is what are you looking for & what will you tow it with.
Myself along others on here started small & used then as we became more comfortable, more aware of what to expect upsized a couple times.
Don't start with a 42' TH as your 1st especially if you own a 1/2 or 3/4 ton pickup, they neither will have enough payload once rv is loaded for travel.
DO NOT listen to any RV or truck salesman if their lips are moving, they have one objective, get you to buy whatever they're selling whether it works for you or not.
Between the truck/RV purchase there will always be fuel, campsite fees, RV/truck periodic maintenance, insurance on both, plus being a RV as soon as you leave the sales lot you've lost money.
Is it worth the aggravation, expense? Absolutely! We've been rving for 40+ years, the last 10 full-time, & have enjoyed every minute of it.
Good luck starting a new adventure!
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Old 04-05-2020, 02:52 PM   #9
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Never owned a RV or TH.
First off, you absolutely cannot compare an RV or a camper of any kind to an automobile. They are worlds apart. Some may have engines, but they are still worlds apart in every aspect. To set the stage right, right from the beginning, they are not automobiles. Anything you assume about automobiles do not apply to any RV.

Curious about expenses .
Other than the initial cost of your RV, that's like asking about expenses on your house at home. Every home is different. Everyone uses them different. Everyone furnishes them different. Every one has different maintenance needs. The only thing that is true about expenses on an RV of any kind is, it's expensive! You are putting money into something that will not return any kind of profit or resale value that YOU think it's worth.

If you approach the cost of your RV as an item that you use for your enjoyment, like any hobby, then you'll have no qualms into dumping money into one. But remember, it's money gone basically. just like tickets to a football game. Once the game is over, it's gone! You can resale, but the held value is only in your own eye, not the eye of the new buyer. Understand that, and you'll have a happy, life-long enjoyment with your camper.



Cost to insure,
This varies from location to location, state to state, and even city to city. It all depends upon where your home residence is. It depends if you get an RV rider on your current automobile insurance, or bundle with your house insurance. It depends if you want full coverage, replacement coverage, or no coverage at all. If you have a loan, you'll probably have to have full coverage.

Here is what you need:
When your vehicle is towing an RV, the RV is covered under the automobile policy, in the event you back into another car, or something like that. But your automobile policy most likely will not pay for damage you do to your own camper if you back into someone.

You need insurance to cover any damage to the camper if you are the one at fault.

You need insurance to cover any damage to the camper when you are not hitched to a vehicle. Fire, theft, flood, damage from nature, tree branches, scrapes you do yourself to the paint.

You need a liability insurance also. In the event you are found liable, or negligent at a campground because you left a garden hose strung across you camp site and someone tripped over it and broke their leg, they could potentially sue you for negligence. Liability covers this. If you have a dog and it bites someone and you are found liable too.

maintenance (does the dealer have to an annual maintenance for warranty).
If you purchase new, you are pretty much covered for everything (except those items you damage yourself). However, getting into a repair show for warranty work could take some time as dealership shops are so horribly back-up. You learn to take care of simple things yourself, even if the items is still under warranty. You learn real fast how to become a handyman, and you purchase a few select tools.

Mine goes to the repair shop, only when I don't have the space, time, or tools for the repair. If it's wood, I can fix it. If it's electrical, I can usually figure it out. If it's plumbing, it's no problem. I can fix it. YouTube videos are your friend!

You do want to do normal maintenance on certain things like bearings and maintaining and observing your battery levels. You need to constantly check your roof for cracks in the caulking seams, and of course, constantly check the pressure in your tires.

How long should one finance one of these to keep from getting upside down.
As soon as you drive off the lot, you are upside down, even if you pay cash! You will never sell your RV (of any type) for the value you put into it.

Travel Trailers, Fifth Wheels, Toyhaulers can have loans up to 15 years (normally). Motorhomes, much longer. It depends upon how aggressive you want your payments to be. We financed our current fifth wheel (About $70,000) for 15 years. We had it paid off 100% one year later. Upside down? Absolutely. If I were to trade for a new one, a dealership would probably give me credit for about half that on the purchase of a new one. (yes, 2 years later).


When it’s time to upgrade do you trade or private sale?
That's your choice. Everyone one of us does it different. It's all a matter of your own comfort level. Some folks trust dealerships and the deals they get with their purchase. Some do not. Others trust private sales and others would never consider going that direction. They sky is the limit. That's be beauty we have ... it's all a matter of our own private choices. BUT, remember, the choice you make is the choice you'll be stuck with. Private sales lie just as much as dealerships. And some private, and some dealerships are as honest as they can be. When purchasing, you also need to consider the reputation for customer follow-up and repair turn-around if you go with a dealership sale. If you go with a private sale, you've got to figure out who you CAN trust if a repair is needed and it's beyond your ability to so yourself.


Is it like a car when trading meaning you get tax relief ?
No, absolutely not. No comparison. It's like buying a house compared to a car. And the second question here, No tax relief. RV's are still considered luxury items. You pay tax, you don't get relief from it.

Good luck. Hope this very depressing post doesn't get you too far down in the dumps.

The opposite of all of this truly is the joy you get out of RV ownership! That truly
supersedes all the negativity I just referenced. The RV life is fantastic, and no amount of money can substitute this way of life! If you do it, do it for the enjoyment you get out of it. Do your due-diligence of course. Make sure you can truly afford it. Every private, state, and federal campground you go to will cost money to camper there. Every trip will cost money for fuel to get there. It's not a cheap hobby. But the rewards are so much more than money!

Good luck in your purchase.
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Old 04-05-2020, 02:59 PM   #10
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If you consider buying a "medium sized RV", an adequate tow vehicle, add in maintenance and operating costs, taxes, insurance and then factor in depreciation, your accountant would cringe at the thought of buying one.....

The cost to maintain and RV (from purchase to, say 5 years) would make it worth about 1/3 the purchase price, plus the increased fuel required to operate a large tow vehicle (as a daily driver or to sit and depreciate if a dedicated tow vehicle only), add in the upkeep on that tow vehicle and don't forget the storage fees for the RV if you can't park it in the back yard.....

You'll find that you can very likely take extravagant vacations annually for the same $5-8 K cost of maintaining and operating an RV.

Consider that a campground costs around $45 or up a night and many "budget motels" are nearly the same price as a campsite. Sure, you can cook in the RV and you have your own shower and bed to sleep in, but you have to make the bed, wash the sheets, clean the shower after washing the dishes and scrubbing the kitchen....

So, is it "cheaper to own an RV than to vacation without one? Not really, the way most people use their RV, pay the dealer to do all the maintenance and "pay dearly each year as the depreciation keeps "rolling off the bucks for trade-in value"....

That said, would I be without an RV? HELL NO !!!!!
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Old 04-05-2020, 04:03 PM   #11
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You have received excellent advice and insights on your questions. I have a question for you. Have you ever been camping in an RV? If not, or if you have once then I'd strongly suggest you try before you buy. Most campgrounds have rental trailers or cabins. Try it out a few times and see if it's for you and your family before jumping all in.

Watch what the campers go thru to set up after driving several hours and then pack up before they leave to drive several hours back home. Then when they get home they have to unpack, clean, park, unhitch, etc. Some would look at this as work, others enjoyment. Personally we had boats for many years. Our boats were fairly large boats (we live close to a marina on the Chesapeake Bay) so the transition was easy.

The last comment/question is how often will you get to use it? RVs and boats are similar in many ways including use VS cost. It's simple math when you look at it. The more you use it the less the vehicle cost per use but the higher the fuel cost. More frequent shorter trips will maximize that ratio. Having it set in a storage lot or your yard because a Child has soccer practice this weekend or you need to cut the grass or do other chores than you will end up with a very expensive lawn ornament.
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Old 04-05-2020, 07:13 PM   #12
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A RV is like a boat. A boat is a hole in the water that you put money in.


Pay the RV off ASAP or when you want to sell/trade it in you won't feel so bad.


I hope you don't have a lot of problems but there always are costs....good luck.


As for insurance just start calling around and decide which policy you want.
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Old 04-06-2020, 07:47 AM   #13
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Originally Posted by jaxglide View Post
.............Curious about expenses...........How long should one finance one of these to keep from getting upside down. When it’s time to upgrade do you trade or private sale.........
1 Expenses - storage fee (if you do not have space to store at home), insurance (especially comprehensive and collision), body detailing, seal/slide lubrication, tire replacement (more frequent if it sits unused for long periods), extended warranty (6 year $0 deductible depending on your risk level), propane, rv resort membership(s).

2. Finance length - depends on how much interest you are willing to pay. You will be upside down once it leaves the dealer's lot (its a depreciable asset and every year the new models get better and better with more features with only small price increases seems to me).

3. Trade or private sale - for me it was easier to trade it in (did that twice), you can put it on consignment with an rv dealer or private sale if you can find a buyer.
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Old 04-06-2020, 08:15 AM   #14
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Originally Posted by Camp CA View Post
1 Expenses - storage fee (if you do not have space to store at home), insurance (especially comprehensive and collision), body detailing, seal/slide lubrication, tire replacement (more frequent if it sits unused for long periods), extended warranty (6 year $0 deductible depending on your risk level), propane, rv resort membership(s).

2. Finance length - depends on how much interest you are willing to pay. You will be upside down once it leaves the dealer's lot (its a depreciable asset and every year the new models get better and better with more features with only small price increases seems to me).

3. Trade or private sale - for me it was easier to trade it in (did that twice), you can put it on consignment with an rv dealer or private sale if you can find a buyer.
Couple points here that in my opinion wouldn't be, at least for me, an expense.
First is the extended warranty. Most of those are very expensive, especially the $0 deductable, & if you have tools, know how to use them, have access to uTube & this forum there's not much you can't do yourself & you won't lose the use of your RV sitting on a lot waiting it's turn in line for months.
The other is resort memberships. They are also very expensive & not necessary. Basically a RV timeshare. Most only allow X number of days per month then leave. In our travels you can stay as long as you want in a lot of very nice campgrounds, resorts per year for the price of a membership. Or you can find someone online trying to get out of theirs & pick up one for about .10 cents on the dollar if it's something you think is necessary.
Just my .02 cents! YMMV!
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Old 04-08-2020, 01:40 PM   #15
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Thank you all for the responses. So much to consider
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Old 04-08-2020, 02:42 PM   #16
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Maybe rent one for week to see if you even like the basic experience?
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Old 04-08-2020, 03:26 PM   #17
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If you can do the annual maintenance yourself, you can save some money. If you have the dealer do it, probably around $750/yr. There is typically a general maintenance package for say $250. Then a slide-out package for another $200. Frame and axle/wheel bearing maintenance at $300 for a double axle unit.


I had to buy a new truck and the RV at the same time. Chose to put more money down on the truck, as the interest on the RV loan can be tax deductible.
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Old 04-08-2020, 04:20 PM   #18
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My automobile insurance carrier, USAA, would not insure my RV under their banner, sent me to either Progressive or Foremost. Same circumstances as the boat, ATV’s, et al... Heck, we pay at least three insurance carriers.

Good advice is always to get as short a financing deal as you can manage - then work extra to get the loan paid early - always!
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Old 04-08-2020, 07:32 PM   #19
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If you can do the annual maintenance yourself, you can save some money. If you have the dealer do it, probably around $750/yr. There is typically a general maintenance package for say $250. Then a slide-out package for another $200. Frame and axle/wheel bearing maintenance at $300 for a double axle unit.


I had to buy a new truck and the RV at the same time. Chose to put more money down on the truck, as the interest on the RV loan can be tax deductible.
Those prices are for the "inspections", if they have pick up a tool to use or any parts/materials that's extra.
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Old 04-09-2020, 02:20 AM   #20
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Lots of different experiences. I have a 27' fifth wheel. It is a 2002 and has no problems. I do all the work on it myself and I paid cash ($5K) for the thing. It sits on my property in a full hook up when not being used to travel. I had a 96 F250 with a quarter million miles on it and upgraded to a 2006 F350 6.0L diesel and paid cash for it. I put some money into the 2006 to ensure it is reliable and knew what I was getting into going in. Have about $2500-3000 invested in the truck. Since I don't put any miles on the truck except to pull the camper it will probably last me for the rest of my life. I pay insurance on the camper and registration fees every year so that is about it as far as expenses other than a few replacement parts and such. I heard $45 being tossed around as an overnight campground fee. We have never paid that much. I joined Passport America and since we are weekend campers generally, find campgrounds that honor the 1/2 price for club members and hardly ever spend much more than $15-20 a night. Almost all the campgrounds we stay at are less than $30 a night and some are pretty nice.

That said, I see no reason to buy a new RV other than preference. The initial depreciation and insane up front cost kill that option for me. I know my trailer won't be worth much if I ever sell it but it won't show the depreciation of a new trailer. If you know what to look for when looking at a used trailer, you can always find one that doesn't have any serious issues and then spend your money making it your own rather than paying for extended warranties and deal add ons.
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