How much does an RV Cost?

Ever thought, “How much does an RV cost?” Or if you should you buy an RV new vs used? Most people don’t realize how affordable an RV can be or how they “finance RVs” just like a house. I wanted to make this video to help answer some of your questions about the RV buying process. Especially since I just went through with my 2018 Thor Outlaw 37RB Toy Hauler. Of course, I started out in a trailer and then a van before I purchased my motorhome, which ended up costing me a lot of time and money. Some of this I have lived with for years, don’t forget to get my RV buying guide and help walk you through the process! And you can also pick up a copy of my RV Budget Spreadsheet!

A Few Notes… about RV Buying:

RV’s are financed like a house 10, 20, 30 years… (smaller monthly payments)
May require a downpayment 10-20% especially over $99k
RVs are depreciating assets
Other costs involved depending on your RV lifestyle: Rent, Storage, Fuel, Propane, Insurance, Electric/Sewer/Water, Internet, Cable etc…
Trade ins are welcome (cars, grills, guns, atvs, etc…) at larger RV dealerships
Consider private seller vs RV dealerships
Shop around for financing your bank vs others (Dealerships can help shop multiple banks at once)

Now, you know how much an RV cost, but like I mentioned this is just one cost and part of the process. There are additional RV Expenses in addition to the monthly payment which depends on your RV Lifestyle. Whether you are Full Time RV Living or just RVing you must budget for the cost of the motorhome, RV Insurance, Water, Electricity, Sewer, Cable, Wifi, Gas or Diesel, LP Propane, etc…

don’t forget to get my RV buying guide and help walk you through the process! And you can also pick up a copy of my RV Budget Spreadsheet!

Video Transcript:

00:00:00 hey and Blogging Brandi here and this is rversity a university for RVers and have you ever wondered about maybe riding in one of these big bad boys or wondered maybe how much one of these cost or even maybe if you should buy one new or used well this is actually my RV it’s a 2018 at Thor outlaw 37 RV a toy hauler and I just went through the buying process on this little girl here big girl actually this big girl here and so I know a little bit about it plus I’ve on the travel trailers and lived

00:00:41 the van life so I’ve learned a little bit about the buying process which is what I wanted to talk to you about today because I actually don’t feel like a lot of people understand that these RVs can be financed just like a house so you’re making a payment on this it’s a lot cheaper than what you think so I’m gonna break down the numbers for you right know RVs are financed just like a house either ten and twenty or even thirty years it just depends on the cost of the RV the long terms may go out longer

00:01:17 depending on how much you finance it that also changes the interest rate as well as if you decide to put down a down payment now sometimes if it’s over a certain amount I know for me if it was over nine hundred ninety nine thousand $9.00 okay $100,000 they were requiring a 10 to 20% down payment on this RV or any RV that I wanted to finance but if it was below that amount they never really required the down payment and that also depends on the bank so you may have to put down a down payment but keep

00:01:59 in mind that you can trade in almost anything if you use a worker dealership for your RV so cars grills guns they take all kinds of stuff in on trade or even another RV that you might if you’re looking to buy an RV the best thing that you can do is do your research and if you want to know how much one cost you want to see what other people are offering there’s after self so if you head over to our VT dot-com or RV trader comm you can get a really good idea of what other people are listing there are

00:02:34 these of both dealerships and private sellers and you could also run some calculations I actually ran a calculation so if you found this RV this 2018 the Thor outlaw 37 RB toy hauler which is what this is this is a 2018 but you can find other year models and you paid ninety nine thousand dollars aka a hundred thousand dollars if you were to finance that and put down five thousand dollars and let’s just say that you got an interest rate of about five percent depends on the loan terms how long you go out the bank that you go

00:03:24 with the amount that you financed there’s all kinds of things that go into this but we’re gonna say we’re doing it at five percent APR so this is going to be your interest rate and then this is a know percentage rate 80 months or 15 years it’s gonna estimate your payment so if you’re doing 180 months at 5% you’re financing ninety nine thousand putting down five thousand the amazing monthly payment that you’re gonna make is seven hundred forty three dollars and 35 cents a month imagine if you were

00:04:07 financing something from way less so I had a trailer that I financed and I think it was about thirty two thousand dollars don’t remember the terms exactly but I financed the trailer it was thirty two thousand dollars and it definitely went out over maybe ten or fifteen years and it cost me about two hundred and thirty two three hundred dollars a month for my trailer if you’re looking at something that’s thirty thousand dollars then you’re gonna be looking a lot less on the payments depending on your

00:04:44 financing terms I wonder what this calculation and give this to you to give you some really good ideas and help you understand that RVs are financed like houses because they are houses I mean we’re here in the kitchen and they’re gonna find out too like how so it’s not like a car the payments aren’t gonna be astronomical on an RV like you think they would some other things that I wanted to mention our RVs are depreciating assets so don’t think that you’re going to purchase an RV and that it’s gonna magically increase in value

00:05:19 because it’s not it’s going to other costs also depend on your RV lifestyle so are you going to be paying for rent or storage fuel propane electric sewer water internet cable all of these costs associated with your RV when you’re buying an RV or even renting an RV trade-ins like I mentioned are welcome at the RV dealerships versus a private seller so you might be able to trade in a car or a grill or a gun or something random that you have another RV at a dealership that you wouldn’t be able to do with a private seller and

00:05:56 also the dealerships will shop around for you it’s a really good idea to check with the dealerships and see because my bank actually charged more and wasn’t willing to finance the same terms as another bank watch so on this RV Lazydays in Tampa actually ran my credit with several different banks and it ended up being a better deal for me to go with Bank of America then it was for me to go with USAA who I would normally finance Marv either you want to know anything else about RV financing I actually have some video tutorials that

00:06:35 I made on those down below sphere that you can check out now you know how much an RV cost or how much an RV like mine cause I’ve given you the breakdown but it’s just one part of the buying process and I know that this can be kind of confusing so I’ve put links to all the things that I mentioned in an amazing guide Marvie buying guide down up below this video you can pick that up as well as links to all of the videos and things that I’ve mentioned so if you’re not checking in the description below this

00:07:04 video you’re really missing out I’m Blogging Brandi this is rversity at University for RVers thanks for watching don’t forget to subscribe and I’ll see you the next video and before I forget because I know that people ask me this you always say where I’m at when I make these videos so we’re actually here if you can see kind of you can’t really see but we’re here at the KOAT journey so wall sega’s KOA journey traveled all the way so if you didn’t see those vlogs check below this video [Music]

00:07:50 you [Music]

RV Buying Guide

If you want to pick the right RV for yourself and budget to avoid making the same costly mistakes that i did then download my RV buying guide to help walk you through the process 📚 RV BUYING GUIDE 📚

>> DOWNLOAD HERE <<