Economics of owning an RV

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Old 09-10-2009, 11:00 AM
NJblue NJblue is offline
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Default Economics of owning an RV

Can anyone speak from experience the net cost or savings of owning an RV versus paying for motels and restaurants while traveling? Here's my thoughts: Buy a recent model used RV and use it for 2-3 years. During that time, use it for 1-2 months per year to travel around the country. At the end of that time sell the RV. I'm thinking the net costs for this versus driving and staying in motels would be:

1) net cost of RV (purchase price minus sale price)
2) cost of insurance
3) net maintenance
4) net cost of gas (half the mileage of a car - i.e., 10 MPG versus 20 MPG???)
5) cost of campgrounds versus cost of motels
6) cost of groceries versus cost of restaurant meals
7) storing RV while not in use
8) anything else?

Can anyone shed any light on this?
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Old 09-10-2009, 11:41 AM
hoseman hoseman is offline
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It's sleeping in your own bed everynight that makes RV life so desirable aside from all the cost disadvantages over hotels.
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Old 09-10-2009, 12:19 PM
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BogeyBoy BogeyBoy is offline
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If you buy a used RV you might be able to pull it off. We have owned 4 RV's - 2 new and 2 used - two travel trailers (both used), one 5th wheel (new), and one motorhome (new). Even though the two new RV's were bought at a discount the depreciation takes a toll on the value of your asset.

First you should consider if this is the way you want to travel. From my experiences and speaking with others it is either something you love or something you hate. If you haven't owned a RV you might want to rent one for a trip before buying.

Campgrounds can vary from luxurious to scary. (Some campgrounds allow year round residents and they seem to accumulate "stuff" all around the campsite.) If you are looking to save money you might end up in some of the scary ones. High end campgrounds can cost as much as a hotel.

Each time you travel you have to go through a ritual of stowing everything for the road. When you get to your destination you have to reverse the process. You have to level the RV, then hook up the water, sewer, electric, and cable at each campground. Anything that might move around during travel has to be secure before you hit the road - or you'll be buying a replacement.

Fuel economy can vary but it is never good. The motorhome (with jeep in tow) - 6-7 mpg. Towing the 5th wheel behind a pickup - about 8 mpg. The two travel trailers towed with SUV's - 9-10 mpg.

Insurance has been very reasonable - but we have never had a claim and they have been insured for occasional use.

If you have a pet you will always have to walk him - some campgrounds have pet runs available. Of course you won't have to be searching for a hotel that will accept your pet.

Maintenance on the motorhome was the highest. Had a transmission go out. Had an electrical system problem. Had to service both the motorhome and the generator. Automatic vent fan broke. We owned the MH for quite a while and of course all of the problems came out of warranty. Tires may have to be replaced before the tread is worn - all that weight on them and just sitting exposed to the elements and sun ruins them.

Of course cooking your own meals always saves money. Expect to make more trips to the grocery store - refrigerators in RV's are not as large as the one you have at home. It is nice to have your kitchen with you when you travel.

Storage costs about $40-50 a month - but to keep your space you have to pay 12 months a year - even when you are on the road.

Bottom line - if I were looking for a way to save money I don't think I would choose RVing. But we still own our RV because we enjoy the lifestyle and if I were taking off for 1 or 2 months it would be in the RV.
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Old 09-10-2009, 12:42 PM
under55 under55 is offline
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We have owned several RV's and Boats. There is no savings in owning either but the fun and people you meet far outweigh the expense. Our last RV was a 40 ft Alfa Diesel Pusher. You should really just look at renting if your going to only use the unit 1 to 2 months a year for a few years.
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Old 09-10-2009, 12:48 PM
OpusX
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Bottom line - if I were looking for a way to save money I don't think I would choose RVing. But we still own our RV because we enjoy the lifestyle and if I were taking off for 1 or 2 months it would be in the RV.

Bingo! A lifestyle of travel. We can not travel for more than a week or ten days in motels/hotels but when we had an RV we could go for six weeks no problem. Do not buy an RV as a way to save money.
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Old 09-10-2009, 05:21 PM
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golfnut golfnut is offline
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Purchasing an RV is like living in TV, it's a lifestyle, probably not cheaper than staying in motels, but much more comfortable and the best thing is you always feel like you are at home. We had a Pace Arrow motorhome back in the 90's and would definitely do it all over again......GN
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