RV Purchase Advice for 1st Time Buyers
Embarking on purchasing your first recreational vehicle can be thrilling yet overwhelming. With many options, making the right decision requires a fair bit of knowledge and understanding.
Thank you for reading this post, please rate this article at the end.
- Budget Planning: Determine affordable spending on RV, including ongoing costs.
- Type of RV: Choose between a motorhome, travel trailer, fifth wheel, or pop-up camper.
- New vs Used: Decide between a new RV with a warranty or a used RV.
- Inspection: Conduct a thorough inspection or hire a professional inspector.
- Test Drive: Test drive RV to assess handling and performance.
- Negotiation: Negotiate price with dealer or private seller.
- Insurance and Warranty: Understand warranty coverage and necessary insurance.
It’s a long-term and adventurous purchase with a substantial financial burden. After all, you’re essentially buying a home and sometimes a car attached to it.
Therefore, it’s easy to feel overwhelmed by how much to consider, especially if it’s your first travel trailer. There are seemingly never-ending options and features to choose from.
Fortunately, you don’t need to beat yourself up about it. Our team has put together this comprehensive RV buying guide to help you make the right decision for your needs.
Our in-depth guide will examine the different types of RVs available, compare their features, and give you tips for selecting the best RV.
Read on!
7 Handy Tips to Consider When Purchasing an RV
1) Research First
The first step in the RV purchase process is thorough research. You can do much of this online in the comfort of your home. Reddit, YouTube, and RV forums are resourceful.
Hop online and get a feel of what’s readily available in the market. Spend time looking at the different RV models you’re interested in, researching different years and options, and seeing what prices they’re selling for.
Read the reliability ratings of different models and about owner experience on forums. Also, research and find out what a particular RV depreciates at, & check on insurance costs.
Check the RV’s reliability, cross the ones with reliability issues, and narrow it down to several models.
Read the reviews of different manufacturers, and note which options RVers love and those they’re not so fond of. Know which brands you’d be willing to buy and ones you wouldn’t touch.
Outside of that, research also involves seeing things in person and getting hands-on research. Start by renting an RV and doing a weekend or longer to decide whether a particular RV is ideal for you.
You could also visit RV parks to get critiques of different models from owners. RVers are usually friendly people who are willing to share honest experiences.
2) Have an RV “Wish List”
Another handy tip for making your next travel trailer purchase decision is to list your “must-haves” and “wants.”
Start by writing down a list of features or amenities you wish to have in your travel trailer. It doesn’t hurt to be specific and picky at first.
From there, determine what features you consider the bare minimum. The “non-negotiables,” at least for me, are the amenities you can’t do without and those that match your lifestyle.
For example, ample space and good storage are essential if you have kids. Also, if you need to tow your RV, consider the weight and ensure your truck can handle the vehicle’s weight rating.
3) Understand the Purpose of your RV Purchase
The perfect RV, in my opinion, should match your RVing lifestyle. So, it’s essential to determine the purpose of your RV purchase.
There are different sizes and kinds of RVs- classes A, B, and C toy haulers, fifth wheels, travel trailers, and more.
The ideal choice will depend on your family’s RVing needs.
For example, I’d recommend the Class A motorhomes if you wish to travel full-time with your family or as a group and need a true-to-home experience on wheels. They’re the luxury liners of the RV world, but also expensive.
On the other hand, if you’ll be doing lots of solo camping and need a trailer that packs a comfortable living space into a lightweight and aerodynamic design, I’d suggest a teardrop trailer.
From experience, the purpose of your RVing correlates to the floor space. If you’ve kids or plan on spending much time in the RV, pick a big trailer with a generous space offering. Otherwise, you’ll feel cramped and claustrophobic.
However, if you need your RV as a base of operations and you’ll be out for the entire day, you can do fine with the smaller RVs.
It’s also essential for RVers to be practical when buying an RV. Consider your storage needs for things like food, pans, and pots.
4) Type of Travel Trailer (Motorhome or Towable)
Other than the size, the other major split between the different RVs is whether drivable or towable.
Drivable RVs, like the Class A, B, & C motorhomes, usually come attached to a van or truck chassis. While they’re a bit more expensive than the towable options, they don’t need a separate towing vehicle.
The drivable options are also great when moving around a lot. They’re cool and spacious, and the huge windshield provides panoramic views.
Unfortunately, they’ve their drivetrain, which makes them expensive, especially when you need to repair them.
You can’t also drive these motorhomes to the store because of space limitations.
On the other hand, towables usually require a separate towing vehicle and are suitable when you need to stay in one spot for a while.
The towables are cool because you can simply tow them with your truck. When you don’t need the trailer, you can simply detach it from the truck.
Now, if you choose to go for a towable, you must consider your towing vehicle. It should have adequate towing capacity for the camper you want to acquire.
Of course, the choice between the two usually comes down to preference.
5) Consider a Used RV
I know buying a new RV is attractive to many campers on a gut level. However, new RVs depreciate faster than old RVs, and they’re also super expensive.
And no, don’t get me wrong; I’ve nothing against a new RV, but getting an old RV would make some financial sense if you’re on a budget.
Along with the high price tag, almost all new RVs usually come with quirks and “bugs” right out of the factory.
It’s surprising to some, but investing in a slightly used RV is much easier to repair in many instances than a new one because the previous owner might have worked out the little kinks. Not always, but you shouldn’t be afraid of getting an old RV.
While most old RVs come as “plug-n-play,” you must still do due diligence before purchasing.
The most significant risk of purchasing a used RV is it may have damage that is not easily visible.
When searching for a used RV, the first thing to ask for is records of warranty work performed. It’s rare for a new RV to roll off the lot and never return for some repairs within the first year.
Another important thing is to get a moisture meter and use it everywhere possible. Don’t be afraid to get underneath the unit and check for moisture. After all, nothing is more damaging in an RV than water leakage.
Next, step on every square inch of the floor and take your time inspecting anything unusual.
Look in all cabinets and drawers for the sins of mice, and check on the switches, vents, skylights, and everything.
And if you spend quite a bit of $ on the old RV, I’d recommend hiring an NRVIA-certified RV inspector.
6) Stick to a Budget: Don’t Overextend Yourself
Having a set budget usually determines the RV you can afford. Determining your options is easier once you understand what you’re willing to spend.
Whatever you do, sticking to your budget is always a good idea. I know getting carried away by the fancy bells and whistles is tempting, but always remember what’s important.
Remember, you can always do cosmetic customization on your RV, but replacing the water heater or air conditioner is much more complicated.
Next, consider how you’ll repay if you take out a loan for your RV. You’d want to understand the financing options to stay within your monthly budget limits.
Putting a down payment on the RV purchase can help to lower the monthly charges.
7) Prepare Yourself for RV Life
An RV purchase is different from a car purchase.
New and old cars are usually not maintenance-hungry in the first few years, except for oil changes and filter replacement.
It’s different for an RV.
Think about it: An RV is more like a home on wheels. In short, components will likely break down even in the first year.
Electric connections are likely to jostle apart from rough road use, while the nails and screws are also likely to loosen up over time.
To summarize, don’t expect an RV to go for years without requiring minor repairs and maintenance. The good thing is that most of these issues are usually minor cosmetic issues.
So, with some elbow grease, you could have a rewarding wanderlust experience.
This video has been included to clarify the topic. Credit goes to Josh the RV Nerd at Bish’s RV
FAQs
What’s the best month to buy an RV?
The slow season for RVs usually starts in September and tapers off in October and November. The sales nosedives in December and January are the best months for RV shopping.
Is buying an RV worth it?
An RV purchase isn’t worth it from a financial perspective. However, it’s a lifestyle investment and worth it if you’re an outdoor person with the resources to enjoy and keep it well-maintained.
Are RV prices negotiable?
Yes, RV purchases are similar to car purchases. You can negotiate the price of your RV just as you would a car. Usually, dealerships have high margins on their RV sales, so they can always go a bit lower.
How hard is it to get approved for RV financing?
Getting approved for an RV loan is much more complicated than getting an auto loan. In most cases, lenders require a credit score of at least 700. Most lenders will finance up to 15 years on some larger RVs.
The older the year model, the fewer finance years, and some will charge more interest. At the time of this publication, interest rates are just below 6%.
Can you take a mortgage on an RV?
Yes, taking a mortgage on an RV is possible, as RV loans can function similarly to auto and home mortgages. The nature of the loan, whether it is more akin to an auto loan or a home mortgage, largely depends on the cost and size of the RV.
The lender considers factors such as your creditworthiness, income, and existing debt levels when determining your qualification for the loan.
It is crucial to note that each lender may have unique requirements that need to be met.
Therefore, it is essential to thoroughly research and compare various lenders to find the one that best suits your financial situation and needs.
RV Auctions and Financing Resources
RV auctions can be a great way to educate yourself about purchasing an RV. Here is a website with active auctions.
Wrapping Up
When considering an RV purchase, particularly for first-time buyers, a range of factors need to be taken into account. The first crucial step in our RV Purchase Advice for First-Time Buyers is budget planning.
It’s imperative to determine the amount that can be comfortably spent on an RV, considering the ongoing costs for maintenance, fuel, and insurance.
Next, the type of RV needs to be decided upon. Options include a motorhome, travel trailer, fifth wheel, or a pop-up camper. Each has its own merits and drawbacks, so it’s essential to thoroughly research each option and choose what best suits your lifestyle and needs.
Another important consideration is whether to buy a new or used RV. A new RV often comes with the peace of mind of a warranty but is more expensive. On the other hand, a used RV may have some wear and tear but is generally cheaper.
Before finalizing your purchase, conduct a thorough inspection or hire a professional inspector to ensure the vehicle has no hidden problems. Additionally, it is advisable to take the RV for a test drive to assess its handling and performance.
Finally, the price must be negotiated with the dealer or private seller to try and secure the best deal. Be sure to understand what the warranty coverage entails and what insurance will be necessary.
Owning an RV can bring great joy and freedom, but making an informed purchase is essential. We hope this RV Purchase Advice for 1st Time Buyers serves as a helpful guide in your buying journey.