Like other vehicles, the cost of an RV is more than the sticker price. Different factors will determine what your RV will actually end up costing you, both upfront as well as throughout the model’s lifespan. It’s vital that you consider these factors when making your budget – and we cover some key factors below!
The RV’s Asking Price
The sticker price is the very first expense you’ll see and it’s the first factor to consider. The price will vary depending on different aspects including:
- The Type: A towable RV is going to be more affordable than a motorhome which has a complex engine system that drives up the price.
- The Size: Larger units will require more materials to be built, increasing the cost of the model.
- The Features: Units with more luxurious features like a fireplace will cost more than one without it.
- The Age: The latest models will cost more than models from previous years. Used RVs will cost even less because of the effects of depreciation.
- The Time of Year: During the off-season, RV dealerships will see a decline in sales which in turn will lead to better deals and savings for customers.
The RV Loan
If you decide to take out an RV loan, you will end up paying interest which will add to the cost.
But the amount you will owe depends on factors like:
- Your credit score
- The size of the loan
- Length of borrowing
- Whether the loan is for a new, used, refinanced, or full-time living RV
Taxes and Registration Fees
There also may be additional fees involved with your RV purchase. For example, you could see a sales tax, property tax, and a registration fee which may be paid once or renewed annually. However, there may also be some tax benefits available for those who buy an RV as their main residence.
If you have questions or want to get personalized RV shopping tips, visit Point North RV. Our expert staff is happy to help however we can. Our dealership is located in Ludington, Michigan.
