The true cost of ownership goes beyond the initial purchase price. Do you have a clear and accurate picture of everything owning, using and maintaining an RV involves? The more you know, the more likely you will be to choose a motorhome that fits your budget.
The price tag of the vehicle is just one piece of the puzzle. Basic RV ownership expenses generally fall into eight categories:
Financing: How you go about paying for your RV can make a great deal of difference in what you end up paying. Since most people are unable to buy with cash, they must finance their purchases and pay extra for doing so.
Insurance: Since a recreational vehicle is not considered a dwelling for insurance purposes, people who live or travel in them do not need homeowners or flood insurance. However, since an RV is a vehicle, owners do need to purchase automobile insurance. Prices are reasonable because most people only use RVs for short periods of time. Therefore it is less likely that they will have accidents.
Maintenance and repairs: You can generally plan on a yearly service but repairs and upkeep can cost more, especially if you run into serious problems. Sooner or later you will be faced with cost of new tyres for example.
Vehicle fees: All vehicles need up to date registration and a valid Warranty/Certificate Of Fitness in order to drive on Australia's roads.
Storage: if you wish to store your RV away from harsh weather conditions, or just keep it off the roads you might have to pay for special parking.
Lifestyle and travel expenses: travelling and living in your motorhome isn’t free. Fuel will represent the major part of the expense, but don’t omit camping ground fees and other potential extras for access to fresh water or electricity.
Depreciation and selling cost: Most people do not realize that the biggest loss they generally take is what they get for their RV at the point of sale because of depreciation, continually dropping values and cost involved in selling.
Here is a short list of a few of the recurring costs involved in owning and using an RV in Australia.
Make sure you are comparing apples with apples as leading manufacturers’ standard specifications often include items that others list as options.