The True Cost of Buying an RV

The cost of owning a travel trailer, fifth wheel, diesel pusher or other RV includes more than just the purchase price. Understanding the recurring costs is an important consideration before making the purchasing decision.

Often suburban homes do not have sufficient area to park an RV, especially for an extended time period. Even when there is room, homeowner associations and local zoning laws may impact the ability to park an RV in the driveway. The cost of storage fees for what is essentially no more than a place to park the RV can range from fifty to several hundred dollars per month. Convenience, accessibility, and security will all weigh into locating just the right place, and will all impact the price. These are monthly fees that are paid all year, including all winter when the RV may see very little use.

Some are towed and some are driven, but either way the RV will travel down the road. This translates to a license plate requirement, similar to other vehicles. States vary dramatically on the taxes associates with obtaining a license plate for an RV. Best approach is to inquire in the county courthouse where the vehicle will be registered.

An investment such as an RV may need or require insurance. There’s collision insurance to consider as well as liability insurance, and costs will vary dramatically from basic travel trailers to large diesel pushers. Check with your insurance carrier to obtain an estimate.

In most areas of the country there comes and end to the camping season, and the RV sits out the winter. The RV needs to be winterized, essentially preparing the plumbing to prevent burst pipes. As with everything there’s a cost to take the RV to the dealer to be winterized. Typically a hundred dollars or less will be charged by the dealer to ensure the RV survives the winter unscathed.

Imagine a house cruising down a highway, and even more important imagine all the things that could go wrong. RV’s are very similar to houses, and include all the same plumbing, HVAC, and appliances of a regular house. Repair bills should be considered in budget planning for even the best constructed RV’s. A warranty may cover the first year on new purchases, but plan for all the years after that as well.

For towable RV’s such as travel trailers and fifth wheels, a tow vehicle is obviously required. However, what is not always so apparent is the annual cost of the tow vehicle even when the RV is not being pulled. In most cases, the tow vehicle is also used to get to work, used around town to run errands and also used on other trips. Maintenance costs on tow vehicles should be considered as another cost of owning an RV.

There are costs on top of the purchase price of an RV that need serious consideration. However, that does not mean they are all negative, just budget considerations that need to be known and budgeted. The cost of owning a travel trailer, fifth wheel, diesel pusher or other RV should be known prior to making a final purchasing decision.