Back

The Full Cost of RV Ownership

Apr. 1 2022 Buying Guide By Minneapolis Trailer

Share

Buying an RV is the perfect way to elevate your camping trips into a camping experience, but a camper can be pretty expensive. You won’t just need to save up for the camper itself—there are a variety of other expenses you need to prepare for.

We here at Minneapolis Trailer want to ensure you go into the hunt for the right RV with all the information you need, so we’ve put together a brief guide to the full cost of RV ownership, below. To learn more, or to see the RVs we have for sale, contact our store in Rogers, Minnesota, today!

The Sticker Price

First, of course, is the asking price for the RV itself. The exact cost will vary by make and model, but it can be impacted by:

  • The RV’s size: bigger models cost more since they require more complex construction and more materials
  • The features: more luxury options and features will increase the price
  • The age: newer and more modern RVs will cost more than equivalent older models
  • The time of year: RVs are more affordable in the off-season with lower demand

The Financing

Unless you’ve been saving up for a long time, you’ll need to finance your RV purchase, meaning a loan with a down payment of 10-20% and monthly payments with interest for the rest of the cost. That interest rate will be impacted by:

  • Your credit score
  • The size of the loan
  • The length of the repayment period
  • Whether the RV in question is new, used, refinanced, or full-time living

Taxes, Registration, and Insurance

There are a number of fees you’ll need to pay as well. Sales tax and property taxes may factor in, and you may need to register your RV which can be either a single payment or an annual one. If your RV will be your primary residence, you might also have some tax benefits, so be sure to ask about that.

You’ll also want to insure your RV, and the cost of those payments can be impacted by:

  • The value of the RV
  • Your driving record

Recurring Costs

Finally, there are a number of other recurring costs that will depend largely on how you use your RV and how you care for it.

Fuel costs will be impacted by:

  • Your tow vehicle’s efficiency
  • How fast you drive
  • How far you drive
  • How much weight you carry
  • How well you plan your refueling stops

Maintenance costs will be impacted by:

  • The size and complexity of your RV
  • How consistent you are with preventative maintenance

Utility costs will depend on the campsite, since some require that you pay for electricity, and on the type of camping you do. Boondocking (camping away from other people and facilities) won’t cost you money for utilities, but you will have to stock up to make it work. Storing your RV in a storage facility will also cost money.

For more information, or to see our RV selection, contact us at Minneapolis Trailer. We proudly serve the Twin Cities of Minnesota—let us serve you today!