If you’re dreaming of chasing sunsets in your very own RV but haven’t yet made the commitment to buying one, there are a number of things to consider before taking the leap. From the type of RV you choose to the features it offers or whether you buy new or used — the options are extensive. We have a few tips for first-time RV buyers to help you make all of these choices a little less daunting.
- Establish a budget
Just as you would do when you’re purchasing a home or a car, know how much you are able to spend before you even start looking. This will reduce some of the temptation to search outside of your price range that generally ends with disappointment when you fall in love with something you can’t afford. - Think about how often you plan to use the RV
This will help determine the durability of the materials used in the RV, which will contribute to the cost. For example, if you’re planning to live in your RV, it will need to be built to withstand the wear and tear of thousands of miles and permanent residents. How often you plan to use the RV may also dictate whether you purchase an RV that can be driven, or one that can be trailered. Also consider whether your RV will be parked outside or if it will be covered in some way. - Be cautious and do your homework if you are considering a used RV
Much like a used car, purchasing a used RV could be both a blessing and a curse. Be sure to use a reputable dealer and look into the history of the vehicle to ensure that the money you save isn’t just being reallocated to maintenance and repairs. - Consider renting before purchasing (especially if you haven’t experienced travel in an RV before)
Although each floor plan is different, and the one you may end up purchasing could have a larger bedroom or a smaller kitchen, the general feel of RV living is similar. If you haven’t spent an extended period of time in an RV, consider renting one of similar size, style and features and take a trip before you commit to buying. Be sure this is a worthwhile investment and not a purchase you come to regret. - Evaluate your loan options before you go shopping
Understanding your choices and getting your financing in place ensures a smooth process, and alleviates any concern that the RV you want could drive off without you while you wait for a loan to clear. [And while we’re on the subject, we’d like to remind you that First Internet Bank offers loans specifically for RVs, both new and used.]
In short, buying an RV is similar to buying a house. Take your time making your decision and don’t rush the process. Try it out; spend a few minutes lying in the bed or “cooking” in the kitchen, to ensure you’ll be comfortable and satisfied with the one you ultimately choose. And if you’re interested in exploring your loan options, give us a call toll-free at 1-888-873-3424.
