The answer to this question can be either yes or no and which answer it is depends on how many times you are planning on using the RV or 5th wheel. If you are planning to just use the RV or 5th wheel for a one-time vacation, the answer is yes, it would be a cheaper alternative to just rent one instead of owning one. If you are planning on using the RV for more vacations, or you are retired and planning to travel, owning your own RV or 5th wheel would be cheaper. Let’s look at the reasons for the answers to this question.
Renting Or Purchasing A RV Or 5th Wheel
Many times when going on vacation, people stay at hotels because it is cheaper and more convenient. For a different experience, families sometimes decide to go camping on their vacation which can be cheaper than staying in a hotel. If you are only taking one vacation a year and not planning on camping any other time during the summer, renting instead of buying an RV or 5th wheel for your one or two week vacation would be the best alternative.
If you decide after retirement that you want to travel and camp instead of staying in a hotel, purchasing one of these travel vehicles, instead of renting one would be the best choice. Also, when traveling in an RV or 5th wheel, you do not have to worry about packing and unpacking your suitcase every time you stop. You also do not have the added expense of going out to eat because you can cook in your travel trailer, and you also can meet a lot of nice people when staying in campgrounds or RV parks.
If you have never “camped” out and was wondering if you would like this experience or not, then it would make more sense to rent a small caravan first for a weekend. It is better than investing thousands of dollars for one, only to find out that you and/or the family does not care for the outdoor experience of camping, does not like to cook their own meals while vacationing, feels too cramped, etc and that you prefer staying in hotels. If this is the case and you have purchased the RV or 5th wheel instead of renting one, you now have a big “paper weight” sitting in your driveway that no one wants to use. It is not like clothes that do not fit that you can return to get your money back. You are stuck with the travel vehicle until you can sell it and when you do, you may or may not get back what you paid for it. Even if it has just been used once, it is still considered “used” and no perspective buyer wants to pay retail price for a used item.
How Can Renting A Motorhome Or Camper Save You Money?
In addition to the above obvious reasons why renting an RV or 5th wheel is a better choice here are some other reasons why renting is smarter.
- Renting will save you extra maintenance costs because in most cases, you will not be liable for paying for extra maintenance or cleaning of the caravan because it will already be included in the rental price.
- When renting one, you will usually have many more options to choose from to rent because when purchasing one, you are limited by the amount you have to spend on an RV or 5th wheel or can get financing for.
How Purchasing A 5th Wheel Is Better Than Renting
- When purchasing one, you are not limited to how long you can rent it for nor do you have to worry that one will be available to rent when your vacation comes around.
- Most times when you reserve one for a certain time frame, you have to put a deposit down and if something comes up and you can not rent it for the time you reserved it for there is a possibility that you will lose all or some of your deposit. If you had purchased a caravan, you do not have to worry about putting a deposit down or be restricted to use it for a specific time frame.
- You can use it anytime you want.
- If you have financed your travel vehicle, the money that you pay each month goes toward you eventually owning it but when you rent one, the money is going to the company you rented it from.
- When renting one, the company may give you a certain amount of miles you can travel for free and then you will have to pay so much per mile. Purchasing one you are not limited to a certain amount of miles.
- If you have decided to take an extended trip or are retired and want to travel cross country purchasing your RV or 5th wheel would be better.
- They are cheaper to own if you are going to use it more than six weeks out of the year, even including the cost of any maintenance and insurance.
- If you want to take it out of the country to Canada or Mexico you will most likely have to purchase it because very few companies will rent either one because of liability reasons.
What Are The Average Prices For Renting RV’s?
The prices vary a lot by state, duration, miles you plan on traveling and a few other conditions to boot. But basically, the cost to rent a standard size RV for 14 nights in July with the basic miles package (usually 100 per night, so 1400 in this quote) is about $2700. Obviously a lot of things are considered in these quotes, so it’s best to visit a place like Cruise America to get a real accurate quote.
After looking at all the reasons for renting or owning a RV or 5th wheel the answer to the question comes down to money, if you are going to use it for more than a vacation, and how may miles and where you are going to travel. To help you make the right decision sit down and write down your own personal pros and cons of both renting and owning an camper or other RV.