Want to Travel by RV? Renting vs. Buying

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Should you buy or rent an RV?

Looking to Get Away? Consider an RV Road Trip!
If you’re planning your next trip and you’ve decided that an RV is the way to go, you might be caught between renting versus buying. Both have their pros and cons, but it’s really up to you whether you’re ready to take on the expense and maintenance of RV ownership, or if you’d prefer the convenience of renting. The choice is a personal decision, but before you pull the trigger take a look at the considerations for both options.
The Benefits of Renting
If this is your first time traveling by RV, it may be a good idea to rent one first, even if you plan to travel more in the future. Renting can help you get a feel for the RV way of life as a whole, including which features you like and which ones you can do without, what it’s like to drive one and what you can expect in terms of regular operations.
Renting an RV can actually save you money as well. You’re not making monthly payments or paying for insurance on the vehicle, nor are you paying for maintenance while it sits in your driveway or a storage facility between trips. You can simply pay to use the RV for a specific period of time and get more bang for your buck.
In the long run, renting an RV can help you save money even if you decide to buy one in the future. For one thing, you’ll have already figured out exactly what you’re looking for in terms of size, features and add-ons. This helps when you go to purchase your own so you won’t short yourself on amenities or overspend on something that you’ll never use.
When to Buy an RV
Despite the benefits of renting, there are certainly times that it makes more sense to purchase an RV. For example, if you’re an avid traveler who has the freedom of working wherever you go, or a retiree who’s eager to explore the country, you’ll likely want to buy your own simply for the convenience alone.
Much like buying a car, you’ll want to budget for the RV and its maintenance expenses which will likely be costlier than for an automobile. Don’t forget about insurance, as well, which does make the costs a bit more expensive. The bonus, however, is you’ll be able to use it anytime you want. You won’t have to worry about finding a hotel at your destination — you’ll have one right at your fingertips. There’s not much better than making the decision to hit the road and being able to go at nearly a moment’s notice.
Research is a must when shopping for an RV, whether it’s a rental or a purchase. Consult other RV owners and try one out for your first trip before making your decision.
~Here’s to Your Financial Health!