While we are primarily an RV rental business, we also sell the RVs from our fleet a few years after buying them new from the manufacturer. To add to the diversity of the fleet, we also have a few RVs that we manage and rent out that are owned by individuals. Over the years, this experience has helped us help others decide whether it is the right decision to rent or buy.
We have heard 2020 called “The Year of RVing,” and we have seen the dramatic increase in rental business as well as RV sales. Many of these people have never even stepped foot in an RV but have heard all of the benefits of RV travel. Before running off and buying an RV with the equivalent payment as a home, we highly recommend trying a rental first.
Below are a few suggestions to decide whether renting or buying is the best option for you. It will be necessary the purchase price of an RV is outside their budget or they may realize that they just do not have enough time when compared to the investment of purchasing a new RV. Renting an RV is significantly less than the purchase of one and the entertainment and excitement are the same. Plus, you can try out different models before purchasing to see what you want.
How often will you use the RV?
Regularly used RVs require less maintenance. An RV that just sits will rack up maintenance bills. Economically, unless you know that you will be using your RV for a month or more every year, it makes more sense to rent.
What are the associated costs with owning an RV?
If you buy new, depreciation is 20 percent as soon as you drive of the lot. Then you must figure out costs of insurance, storage, maintenance, Good Sam’s Club or other roadside service. Plus, according to DOT standards, RV tires must be replaced every 5 years at a cost of $3000 or more. With these figures, you would be able to rent a 30’ Class C bunkhouse for 3 weeks or more out of the year and still save money.
Do you really know what you want and need?
Probably the most common phrase we hear from RV owners is, “I wish I had rented before I bought.” RV rental offers an economical way to test drive and try out different models to see what options you can and cannot live without before taking out a second mortgage.
Put it all down on paper and feel free to call us if you have questions. Whether you are interested in renting or buying, the staff at Suncoast RV Rental is here to help.
