The true cost of owning an RV, 5'er or trailer.

Mike,

We get about 7.5 MPG and that works out to about $0.50/mile (currently). So, our current plan is to drive about 150 to 200 miles a day, and then stay someplace a week or maybe two depending on how much exploring an area offers us. $300 "should" give us a 600 mile range each month, so we would move 3 or 4 times per month. For driving around and exploring we will use our toad (a Toyota Yaris) which gets about 35 MPG and has it's own budget for gas, maintenance, insurance, etc... But we have it whether we live in a stick house or the RV, so I left it out.

We are both a bit nervous that we have overlooked something. This is quite a change for us and being retired we won't have much room for mistakes, so we are trying to figure out as much as possible - hopefully we have not made too many mistakes.

Frank

Gary,

Thanks, I guess I have just never bothered to notice the itemization on the tag renewal if it is included in that. We will be registering in South Dakota which does not have personal property tax - yet...

Frank

By staying for a week, or better a month, at a time in a campground, you can reduce your camping fees considerably.  Over 14 years we've averaged $13.50/night using a combination of nightly, weekly, monthly, and minimal boondocking.

Our propane costs are <$100/year, and about $50 most years.  But we try to avoid really cold places in the winter and rely on our heat pumps for most of our heat.

Under the category of unexpected repairs:

Something that is different about a motorhome on the road is the extremely expensive cost of breaking down and having to be towed back somewhere, then being stuck in a shop for several days. The tow fees, motel bills, etc. can be a real shock. There are various insurance plans for that and I think that's something to consider. Remember that down time, the time you cannot live in the motorhome for any reason, can be very exasperating and expensive.

If you are not handy enough to manage some of you own work, the cost of of shop labor on an RV can get a little rich, and since your home is moving down the road at high speed, things break that would not break if it were sitting still.

Windshield glass is not something you would normally think about, but I had a neighbor at the rally last week who had been through three in the last two years, at $2500 per side. He had insurance, but there's often a high deductible.

Having had airplanes for 30 years, I am never really shocked at the incredibly off the wall maintenance items that come up, but because they are a special form of transportation, everyone has their hand out. I have found a similar thing happens when the word "RV" comes up in the conversation.

The true cost of ownership can get a little unmanageable when you think it will never happen to you.

This snowbird has a 5er and diesel 3/4 ton truck, just finished travelling for 5 months and due to the cool weather did very little boondocking  ( 5 days )  Stayed 3 months at one park and the bills came to $12,000.00  including new tires on truck, new windshield and delays getting home due to snowy roads in a few passes.A bit more than we planned to spend but we are planning for next winter in Arzona.

While budgeting for a loan payment on an RV covers the month-to-month cash flow it may not reflect the real cost over the time you own the RV. Many many people find themselves "upside down" after the first payment and have to come up with the cash to sell or trade.

Frank and Sharon.

You sound like you have thought this out soundly and my suggestion would be to go forward with your plans.  There is no way we can forwarn you of every thing that you may have to plan for.  Some of us have had worst disasters than others, and that may never happen to you.  Just try to keep your sense of humor when you have to adapt to any adverse situation that comes up.  Our first RV was 15 years old, paid cash for it, got 4 mpg, and we couldn't turn off the engine, or it wouldn't start again.  Had to wait 'til morning. Got us from Maine to Utah, to Washington State, down to California and over to AZ and Quartzsite.  If we hadn't had a sense of humor, or had been lured into the lifestyle, we surely should have given up then, as many others probably have.

Had it six months and then traded for a new Bounder.  That was a low level mh at the time.  Had that about 3? years when we decided to go full time and traded that for a diesel with a slide.  That third one is now 12 years old and still going strong.  Got us to the Texas Rally and back home again without a flaw, so yes, we have been happy with our choices.  Even the first one taught us almost everything we had to know about managing resources.  ;D ;D

For us everything we do is an adventure.  We don't dwell on the financial crunches.  Stuff happens whether you have an RV or a stick house.  We've been VERY fortunate in that the choices we made, other than the first one, have not given us a host of mechanical problems.  We just go with whatever happens.  Right now it is dealing with the diesel prices, but we'll cope.  Now that we're back home again, we'll probably sit for awhile to let our resources catch up again.  We do what we have to do.

Daisy

Daisy said:

They aren't called the "bottomless money pit" for nothing.  Buy what you can afford.  Don't be enticed by luxury and allure if you don't have the income.  See what will happen with a payment if you lose your job, OR retire.  Can your finances hold up to it.  Start small or at least an older one, as for sure your first rv will not be your last.  Pay cash if you can, then you won't be in a fix like so many are today, with an upside down mortgage on their rv.  In times of crisis, they are harder to sell when you really need to.

Just my 2cents worth

Daisy

Click to expand...

I personally have found an rv impossible to sell. Dealers fare better because they have good access to financing for the buyer. But dealers do not offer "good deals" Where owners of rv's just about have to give them away.When we bought ours I planned on keeping it forever because I will not buy another, This one will have to do.  Iknow never say never. But we have decided with all the money you throw at these fuel guzzlers enough is enough. And we will just have to make this one do.

If you see something wrong, PLEASE advise us - we are all ears...

Click to expand...

LP 50-100 a month? You need to move south in the winter.

Full Time I use LP to cook breakfast. Rest of meals Convection/Microwave, toaster oven, BBQ grill.  Boost for hot water heater along with the electric when taking a shower.
Once or twice a year check if both furnaces still work. Electric space heater other times when needed.
Run Refrigerator when traveling down the road.
Average year use for last 5 years 7.34 gal a year. Average LP cost for 5 years $16.56 a year.

Paid cash when I bought my used 3 year old MH 9 years ago this July. Should be the last one I will ever need.
Not planning on ever selling it.

FrankNSharon said:

Mike,

We get about 7.5 MPG and that works out to about $0.50/mile (currently). So, our current plan is to drive about 150 to 200 miles a day, and then stay someplace a week or maybe two depending on how much exploring an area offers us. $300 "should" give us a 600 mile range each month, so we would move 3 or 4 times per month. For driving around and exploring we will use our toad (a Toyota Yaris) which gets about 35 MPG and has it's own budget for gas, maintenance, insurance, etc... But we have it whether we live in a stick house or the RV, so I left it out.

We are both a bit nervous that we have overlooked something. This is quite a change for us and being retired we won't have much room for mistakes, so we are trying to figure out as much as possible - hopefully we have not made too many mistakes.

Frank

Click to expand...

Frank, we also have a 2009 Yaris (automatic) but we get 42 mpg. If yours is automatic how do you plan on towing it ?

skyking4ar2 said:

Something that is different about a motorhome on the road is the extremely expensive cost of breaking down and having to be towed back somewhere, then being stuck in a shop for several days. The tow fees, motel bills, etc. can be a real shock. There are various insurance plans for that and I think that's something to consider. Remember that down time, the time you cannot live in the motorhome for any reason, can be very exasperating and expensive.

Click to expand...

That is one of the reasons I'm opting for a fifth wheel.  Lots more places to fix the diesel pickup and I can have the fifth wheel towed somewhere while I wait.

donandmax,

I we may get 40MPG on our Yaris also, haven't really checked it - it does go a ways on a tank -

Ours is a stick/manual transmission and is supposed to be able to be towed 4 down, so we will be getting it fitted to be towed with all four wheels on the ground. I assume the automatic can not, and will need at least a dolly to be towed.

Frank