Buying an RV? Answer These 4 Questions First

Auto Loan


3 min. read

By: FCU Team

A recreational vehicle (RV) offers owners the flexibility to set off on adventures across the country! RVs allow you to be able to set your own schedules and control every aspect of your vacation. RVs aren’t for everyone, though. Whether it’s financial concerns or interest, here are some questions you should answer before you decide if now is the time for your RV.

Can You Afford an RV?

As with any purchase, cost is always something you need to look into. There are a wide variety of RVs available on the market, and the best of the best will cost a pretty penny. How are your finances currently looking? Examine your credit score. Look at your current loans/debts and how much you have left to pay off. Research RV prices, new and used.

You will also need to pay for any registration fees associated with your vehicle as well as additional insurance. Maintenance, upkeep and accessories can also drive the lifetime price of your RV up. Are you able to take on another financial obligation? and continue your current, non-RV lifestyle? Do you have money saved away in the form of an emergency savings fund that could cover any unexpected issues that arise?

If you don't anticipate any issues, you're looking to be in good shape already!

Where Will You Keep Your RV?

You probably don’t need a reminder that RVs are generally very large. Before you purchase your RV, think about your storage options. This isn’t an issue if you have a large property, but for others with limited space, RV storage might present an minor obstacle that can only be solved through money. Are you prepared to pay to store your RV somewhere? If not, now might not be the right time to buy. Still, it's a small price to pay for something that might be a big positive on you and your family!

RV-camping.jpgWhat Are Your Needs?

RV models are as varied as their prices! From class A, B and C motorhomes to fifth-wheels and travel trailers, there are many options to pick from. Determining the kind of trips you want to take, as well as your level of comfort, will assist with your RV choice. If you have a vehicle capable of towing, like an SUV or truck, a towable camper may be a viable option.

For those wanting to take long, cross-country trips, luxury class A RVs are likely to be your best bet. These are the kind that look like buses and can even extend on the sides. If you live in a college town, you’ve likely seen many of these rolling into town on game day as they do here in Gainesville, Fla.

Going through each kind of RV is beyond the scope of this blog (and our expertise!), but there are plenty of resources online to help you narrow down what kind of RV is right for you.

Can You Afford Travel Costs?

Let’s say you’ve found the RV of your dreams and think your finances are stable enough. Have you considered the costs of actually traveling? Vehicle maintenance on the road, fuel to cover many miles of travel, lodging and provisions are just a few of the costs traveling may incur. If you think your budget is able to afford these costs, we encourage you do some in-depth research and find ways to keep travel costs as low as possible.

RV Loans with FCU

Did you know Florida Credit Union offers recreational vehicle loans? If you won’t take us along on your trip, at least let us help get you going! We offer anything the would-be RV owner would need, from low interest rates and flexible financing to GAP insurance. Learn more about our RV loans.