For the time being, socially distant activities are still the best option for you and your family. RV sales are soaring as many people take advantage of the circumstances to explore the great outdoors.
When purchasing your first RV, you’ll have to make several decisions, such as which type will be best for you. While there are several possibilities, they may be classified into motorized (also known as motorhomes) and non-motorized (also known as travel trailers).
Read on for a thorough breakdown of everything you should know about them.
How Are Motorhomes and Travel Trailers Different?
The most significant distinction between the two is that a motorhome may be driven on its own, whereas travel trailers must be towed. Another distinction is their price ranges. A big travel trailer may cost as much as $30,000, while a smaller motorhome can cost $50,000. This may seem like a lot of money, but many lenders offer RV loans for new and used recreational vehicles. You can enjoy an extended trip with your family as soon as you want!
In general, motorhomes also depreciate more quickly than travel trailers. After five years of ownership, a Class C motorhome will have lost more than half of its original value. After five years, most travel trailers will still be worth 60 percent of their initial price.
What are the Perks of Owning an RV?
One incredible thing about having an RV, whether it’s a motorhome or a travel trailer, is the versatility it provides. Motorhomes are classified as Class A, B, or C. These RVs can easily house up to four travellers for a week or longer in unexplored terrain. Travel trailers are also available in various sizes, the smallest of which may fit in the bed of a truck.
How Much Does it Cost to Own an RV?
You would have to pay for upkeep after purchasing the RV, which can be expensive over time due to its added standard features. For example, motorhomes should be treated like a car that requires regular inspections and oil changes.
They also require insurance. The insurance provider will determine your premium, but you may expect to spend extra for the RV. RV insurance for a big travel trailer may cost up to $500 per year, whereas a Class A motorhome may cost up to $4,000 per year.
Which One is Better for Me?
A travel trailer is an excellent option for people who wish to spend as little money as possible. This one is better suited to casual campers who go on a trip every once in a while.
However, the combined cost of a vehicle and trailer might be greater than the cost of a typical motorhome. So, if you don’t have your car to tow the trailer and you want to live in an RV for a lengthy amount of time, the motorhome is a better option.
Nevertheless, both are acceptable for a weekend trip as long as you keep in mind the size restrictions. Parking large RVs and trailers in small areas or campgrounds may be a problem. This is particularly true for travel trailers that must be hooked up to another vehicle. A smaller RV, on the other hand, is easier to manage.
Both motorhomes and travel trailers have their own set of advantages and disadvantages when purchasing an RV. Costs vary, and there are several factors to consider. Regardless, whether you want a small camping area for two people or a comfortable and exciting environment for your entire family, your final choice will come down to your needs and preferences.
If you’re shopping for a new travel trailer or motorhome, Canada Powersports Financing has guaranteed RV financing to get you moving. We also offer financial services for people planning on buying ATVs, snowmobiles, dirt bikes, jet skis, boats, four-wheelers, and more. Reach out to our financing experts to buy your dream RV today!