A special article brought to you by Wasatch Peaks Credit Union
Summer is coming, which means vacation time is here!
The call of the open road and summertime road trips are appealing, but long hours in the car can really suck the fun out of any vacation. That’s the beauty of recreational vehicles. The road IS the destination; anywhere you go, you’ve got luxury-class accommodations waiting for you.
Buying an RV is a big decision and there is a lot to know before making this major purchase. Here are some things to consider so you can make informed decisions about your new RV.
- RV CLASSES
Broadly speaking, there are three classes of RV: Class A, Class B, and Class C. There are other options, of course.
Camper trailers, pop-ups, and fifth-wheel tow-behind campers can often fill the same needs at lower prices. We recommend investigating these options, as they may be a great fit for your family.
CLASS A are built on big-rig platforms and are basically rolling houses. They feature full-sized couches and TVs, full bathrooms, kitchens, and expandable bedrooms. These price tags are as big as the vehicles, ranging from $60,000 to over a million for custom-built motorhomes.
CLASS B motorhomes are built on full-size van platforms. With scaled-down amenities, you can expect to see a small kitchen, a compact bathroom, and enough sleeping space for 2-3 people. These vehicles run between $50,000 and $100,000.
CLASS C motorhomes offer a compromise between A and B. These start with cargo-van platforms and extend the wheelbase somewhat to about the length of a small bus. Amenities will be more complete than in a Class B, but nowhere near as robust as in a Class A. These usually run between $60,000 and $200,000.
- PICK A BUDGET
Before you make a major purchase, you’ll want to be clear on how much you can afford. A good down payment can help protect you against depreciation, so take the time to figure out what you can budget for a down payment. Given the significant cost of purchasing an RV, plan for financing periods that are typically 10 years or longer. Don’t forget to factor in costs for fuel, insurance, registration, and maintenance.
- FINANCING WITH A PRE-APPROVAL
It’s a good idea to go in with a pre-approval to purchase your RV. Not only will it prove you’re a serious buyer, but you can also negotiate from a position of confidence. It will also save you from the heartache of falling in love with an RV you can’t afford. If you’re thinking about purchasing an RV, our specialists at Wasatch Peaks can help you out! Get started today and give them a call at 801-627-8700 or visit your local Wasatch Peaks branch.