Why RV's Are The New Private Jets And How To Get Yours
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With the rise of remote work and digital nomadism, more people are simultaneously embracing the RV lifestyle to work and travel. RVs provide the freedom to live and work from anywhere with an internet connection. RVs offer unparalleled flexibility in travel. You can go wherever you want, whenever you want, without being tied to airline schedules or hotel reservations. This flexibility is especially appealing in the current climate, where people seek more control over their travel plans.
Just like private jets, RVs offer privacy and comfort that you can't get with other modes of transportation. You have your own space, bathroom, and all the amenities of your home while you're on the road.
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Types of RVs
RVs (Recreational Vehicles) come in various types, each offering unique features, amenities, and suitability for different lifestyles and travel preferences. Here are some common types of RVs:
Class A motorhome
Class A motorhomes are large, bus-like vehicles built on a heavy-duty chassis. They offer first-class spacious interiors with amenities similar to a traditional home, including full kitchens, bathrooms, living rooms, and bedrooms. Class A motorhomes are ideal for long-distance travel and full-time living.
Class B motorhome (Camper Van)
Class B motorhomes, or camper vans, are compact and easy to maneuver. They are typically built on a van chassis and offer basic amenities like a bed, kitchenette, and sometimes a small bathroom. Class B RVs are great for solo travelers or couples looking for simplicity and versatility.
Class C motorhome
Class C motorhomes are built on a truck chassis with an attached cab section over the driver's area. They offer more space and amenities than Class B vans but are smaller and more maneuverable than Class A motorhomes. Class C RV typically features a bedroom, bathroom, kitchen, and living area.
Travel trailer
Travel trailers are towable RVs that are hitched to a vehicle and towed behind it. They come in various sizes and floor plans, ranging from small, lightweight models to large, luxurious ones. Travel trailers offer amenities like kitchens, bathrooms, and sleeping areas and are popular among families and weekend travelers.
Fifth wheel trailer
Fifth-wheel trailers are similar to travel trailers but feature a bi-level design with a raised front section extending over a pickup truck's bed. This design provides additional living space and allows for more stable towing. Fifth-wheel trailers often have amenities comparable to those found in Class A motorhomes.
Toy hauler
Toy haulers are a type of travel trailer or fifth-wheel trailer with a garage area at the rear for storing motorcycles, ATVs, bicycles, or other recreational vehicles. The garage space can be converted into additional living space, making toy haulers popular among outdoor enthusiasts who want to bring their toys on the road.
Pop-Up camper (Folding Trailer)
Pop-up campers, also known as folding or tent trailers, are lightweight and collapsible RVs that fold down for easy towing and storage. They offer sleeping areas, a small kitchenette, and sometimes a dinette when expanded. Pop-up campers are a budget-friendly option for casual campers and weekend warriors.
Truck camper
Truck campers are RVs that sit in the bed of a pickup truck and are secured to the vehicle's frame. They offer basic amenities like a sleeping area, kitchenette, and sometimes a bathroom. Truck campers are compact and easy to maneuver, making them ideal for off-grid camping and remote destinations.
How to buy an RV
To get your RV, here's what you can do:
- Research. Start by researching different types of RVs to determine which one best suits your needs and budget. There are various options available, from compact camper vans to luxurious motorhomes.
- Set a budget. Determine how much you're willing to spend on an RV. Remember to consider the upfront cost of purchasing the RV and ongoing expenses like maintenance, insurance, and fuel.
- Visit dealerships. Visit RV dealers to see the different models in person and talk to sales representatives who can provide more information and help you find the right RV.
- Consider buying used. If buying new is out of your budget, consider purchasing a used RV. Make sure to thoroughly inspect it by a mechanic before making a purchase.
- Financing options. If you need financing, explore your options for RV loans through banks, credit unions, or RV dealerships. Make sure to shop around for the best interest rates and loan terms.
- Take a test drive. Before making a final decision, take the RV for a test drive to see how it handles on the road and to get a feel for its features and amenities.
- Plan your adventures. Once you've purchased your RV, start planning your adventures! Plan out your routes, book campgrounds or RV parks, and get ready to hit the open road.
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Things to keep in mind when buying an RV
Buying an RV is a significant investment and requires careful consideration to ensure you choose the right one for your needs. Here are some important things to keep in mind when buying an RV:
Budget
Determine your budget and stick to it. Consider the upfront cost of purchasing the RV and ongoing expenses like insurance, maintenance, fuel, and campground fees.
Type of RV
Decide which type of RV best suits your needs and lifestyle: a motorhome (Class A, B, or C), travel trailer, fifth wheel, pop-up camper, or truck camper. Each type has its advantages and disadvantages, so choose one that fits your preferences and budget. Determine which amenities and features are essential for your RV lifestyle, such as air conditioning, heating, kitchen appliances, entertainment systems, solar panels, slide-outs, and outdoor awnings.
Floor plan/layout and size
Consider the RV's floor plan and layout to ensure it meets your needs and provides enough space for comfortable living and travel. Pay attention to sleeping areas, kitchen amenities, bathroom layout, storage space, and living/dining areas. Consider the size of the RV and how easy it will be to maneuver and park, especially if you plan to travel to remote or crowded destinations. Larger RVs offer more space and amenities but may be more challenging to drive and park.
New vs. used
Decide whether you want to buy a new or used RV. While new RVs come with warranties and the latest features, used RVs can offer significant cost savings. Make sure to thoroughly inspect any used RV by a qualified mechanic before making a purchase. The risks of buying a used RV are the absence of a warranty from the manufacturer, the problems you can’t see, which can lead to high repair costs, and the high cost of upgrades to new technology. Like CarFax, you can do your best to get a historical report from your RV by checking out RVchecks.com.
Maintenance and repairs
Consider the RV's maintenance and repair requirements, including the availability of service centers and replacement parts. Research the manufacturer's reputation and read reviews from other RV owners to gauge reliability and durability.
Towing capacity
If you're considering a towable RV like a travel trailer or fifth wheel, make sure your vehicle has the towing capacity to safely tow the RV. Consider factors like gross vehicle weight rating (GVWR), tongue weight, and towing hitch compatibility.
Test drive
Take the RV for a test drive or walkthrough to evaluate its performance, comfort, and condition. Check for any signs of damage, leaks, or mechanical issues and ask questions about the RV's history and maintenance records. Consider where you'll be camping and whether the RV suits your destinations. Research RV parks and campgrounds in advance to ensure they can accommodate your RV's size and provide the necessary amenities.
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How to finance your RV
RVs can cost from $10,000 to $300,000, depending on the style and features. Most motorhome prices start at around $100,000, according to Camper Report.
A moderately appointed camper trailer pulled behind a truck might cost $20,000, while a fifth wheel can cost $40,000.
How you pay for it depends on your finances. If you have enough cash, buying an RV outright can save you from paying interest charges on a loan.
Unsecured personal loans from $1,000 to $100,000 for one to five years are an option at interest rates that currently average around 12%. An excellent credit score or collateral isn’t required to be approved for personal loans. If you fall behind on payments, you won’t risk having your RV repossessed.
You may be better off getting an RV loan, which can be used to buy a new or used RV and is often cheaper than a personal loan. Financing is through an online lender, bank, credit union, or the RV dealership you’re buying from.
Like a car purchase where the car is the collateral, the RV will serve as collateral for the RV loan. Most RV loans have 10-15 years repayment terms, with some as long as 20 years.
According to Bankrate, if you have excellent credit an RV loan can start at around 7.5% interest. Rates could be as high as 36% for buyers with poor credit, such as a FICO score below 580.
A larger down payment than the 10% typically required by RV companies can lower monthly payments and make qualifying for a loan easier. Don’t expect an RV loan to be cheaper than a car loan. RVs are considered luxury items, causing lenders to be more cautious about lending money for expendable items in times of financial crisis.
Owning an RV has other costs besides the purchase price. They include:
- Gas and maintenance
- Utility costs
- Camping and storage fees
- Insurance
Insurance costs for RV owners
If you’re buying an RV with a loan, your lender will require RV insurance before it approves financing. The bigger and newer the vehicle, the more expensive insurance will be.
RV insurance covers the same things your home and auto insurance cover, and often more. Every state has minimum liability insurance requirements, though you may be able to set the collision and comprehensive limits.
Comprehensive coverage is available if your RV is stolen or damaged by an animal or storm, for example. After making a claim, you’d have to pay a deductible before collecting money from the insurer.
You may also want to buy extra insurance for your RV to cover such things as:
- Personal belongings
- Attached accessories such as awnings and satellite dishes
- Upgraded interiors and custom features
- Emergency expenses
- Total loss replacement
- Uninsured and underinsured motorists
- Living in your RV full-time
- Driving across state or country borders
You’ll probably use your RV part-time for vacations, so you may want to buy vacation liability insurance. It has a common limit of $10,000 that provides comprehensive and collision coverage. This cheaper insurance will cover you if you injure someone or damage property.
RV insurance is only used when the vehicle is on the road. If you store it at your house or at a storage facility during the winter, for example, you can add a storage option to your insurance policy to cover fire, theft, and storm damage while in storage. This should lower the premium.
Prices for RV insurance vary widely, ranging from $600 to $25,000 annually.
Insurance and the purchase price are the biggest costs of RV ownership and should include shopping around for the best deal.
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States with maximum RVs
Several states in the United States are known for having a high concentration of RVs due to their favorable climates, natural attractions, or RV-friendly infrastructure. Some of the states with maximum RVs include:
California
California is home to diverse landscapes, including beaches, mountains, deserts, and forests, making it a popular destination for RVers. The state offers numerous RV parks and campgrounds, especially along the coast and in national parks like Yosemite and Joshua Tree.
Florida
With its warm climate, beautiful beaches, and abundant outdoor activities, Florida attracts RVers year-round. The state has a vast network of RV parks and resorts, particularly in popular destinations like the Florida Keys, Orlando, and Gulf Coast.
Texas
Texas is another state with a large RV community, thanks to its wide-open spaces, diverse scenery, and RV-friendly attitude. The state boasts numerous parks, private campgrounds, and RV resorts, especially in areas like the Hill Country and the Gulf Coast.
Arizona
Arizona's mild winters and stunning desert landscapes make it a favorite destination for snowbirds and RVers seeking sunshine and outdoor adventure. The state is home to iconic destinations like the Grand Canyon, Sedona, and Lake Havasu, as well as numerous RV parks and boondocking opportunities.
Colorado
Colorado's Rocky Mountains and outdoor recreation opportunities attract RVers looking to explore its scenic beauty. The state offers numerous campgrounds and RV parks in mountain towns like Estes Park, Aspen, and Durango, as well as near popular national parks like Rocky Mountain National Park.
Oregon
Oregon's natural beauty, including its rugged coastline, dense forests, and scenic mountains, makes it a popular destination for RVers seeking outdoor adventure. The state offers a variety of RV parks and campgrounds, especially along the coast and in destinations like Bend and Crater Lake National Park.
The bottom line
The RV lifestyle has gained popularity due to its flexibility, privacy, and comfort. It allows individuals to work and travel simultaneously from anywhere with an internet connection. Various RVs cater to different needs, from compact camper vans to luxurious Class A motorhomes, each offering distinct features and amenities for short trips, long-distance travel, or full-time living. Owning an RV offers a unique way to explore and experience a variety of locations while maintaining the comforts of home.
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