How to Budget for Your RV Purchase

When you decide to buy an RV, you should always set a purchase budget. But don’t stop there! Remember that you’ll still encounter expenses after you buy your rig. It’s important to be prepared for those additional costs beyond the sticker price. We’ve put together a guide to those expenses to help you anticipate the ongoing cost of your new RV.

Insurance

RVs need insurance like every vehicle. Your insurance representative is your perfect resource to learn more. Talk to them about the kind of rig you want to buy and ask for an estimate on how much it will cost to insure. If you don’t like that amount, ask them how to bring the price down, perhaps by choosing a different type of RV. Costs for insurance vary depending on the type of RV as well as its replacement cost, your driving record, and the type of coverage you want or require. 

Taxes and Registration

Depending on where you live and register your vehicle, you’ll have to pay standard fees such as sales tax and registration. Some expenses occur annually, others might be every few years. Make sure you understand what to expect. 

Storage

Depending on the size of your property and your RV, you might be able to store it on your own property. However, lots of folks pay a monthly storage fee. If you can park it at home, you may want a carport or cover to protect it from the elements.

Financing

Most people take out a loan and pay for their RV over time. Interest rates can vary depending on how much you are borrowing, how long your terms are, your credit score, and the type of RV loan you need. 

Travel Costs

You might be ready to get on the road, but remember to consider your travel costs! Filling up that gas tank will be a regular recurring expense. Other costs may include repairs, upgrades, maintenance, and furnishings such as kitchen supplies and linens. Most RV users also pay nightly campsite fees along with park admissions, etc. 

Ready to check out RVs for sale? Check out the selection at JTS RV Supercenter. See our available models online or at our Grafton, Ohio, dealership. We also serve those in Cleveland, Ohio.