Renting vs. Buying an RV

Owning a motorhome opens up a world of adventure and travel. With it, you can enjoy the outdoors while still having the comforts of home. When deciding if an RV is a good investment for your family, it ultimately comes down to two questions: Can you rent an RV, or should you buy one?

It can be challenging to determine whether renting or buying an RV is the better choice. Considering a motorhome is a significant investment, it’s important to make the right decision. But that’s where our expertise comes into play.

At I-10 RV Storage, we’ve discussed the advantages and disadvantages of renting vs buying to help you decide which is the better choice for your lifestyle. Once you decide, you can look into how to care for and store an RV if you feel purchasing a motorhome is worth it.

What Are The Pros Of Renting An RV?

According to industry statistics, it’s believed that roughly 8% of people choose to rent an RV from a private peer-to-peer platform, with even more choosing to rent from big rental companies. There are many reasons why renting is an attractive choice. We’ve discussed a few of these reasons below:

It’s cost-effective: Provided you will only use an RV to travel for short periods of time, renting an RV will save you more, as RV maintenance, storage, and running costs will quickly add up and become a big expense. Not to mention, the actual purchase price of an RV is significant, and it can cost more than $100,000 if you buy it brand new.
You get to experience different RV models: There are many different RV models to choose from, so selecting one may be hard if you don’t know which is ideal for you. Renting an RV will allow you to experiment with different models before finalizing which you would like to purchase for yourself.
You can experience the RV lifestyle: RVing is a lifestyle in and of itself that requires commitment and patience, which isn’t for everyone. When you rent an RV, you can experience what it takes to own one and if the RV lifestyle is something you enjoy.

What Are The Cons Of Renting An RV?

Despite its advantages, renting an RV has downsides that you must also consider. Below is a list of disadvantages of renting an RV:

There are restrictions: Rental companies will have strict terms and conditions that you must adhere to when renting an RV. These restrictions can include, for example, how many miles you can travel and the locations you are or aren’t allowed to travel to.
Additional costs may be involved: Renting an RV will be more expensive if you travel frequently. Rental companies charge according to mileage driven, per night away, and for certain amenities, so the costs can quickly add up.
No customization is permitted: Renting an RV means you won’t be able to customize or personalize it to appeal to your style or travel needs.

What Are The Pros Of Buying An RV?

An estimated 13 million households in the US are believed to own an RV, and this number keeps growing. When buying an RV, there are a few appealing advantages, and it’s evident that more and more people are seeing these advantages. If you’re still on the fence about RV ownership, you might want to learn why owning an RV is a good idea:

Unrestricted traveling: If you own your motorhome, you get to go where you want when you want. As an RV owner, you can travel anywhere you want without worrying about time restrictions, extra fees, or rental regulations.
Personalize your Motor Vehicle: When you own an RV, you can personalize and customize it. You can add comfort amenities and better equipment for a better traveling experience.
It is readily available: You can access and use your RV whenever needed when you own your motorhome. There is no need to wait for a rental to become available or for clearance. You can get your RV out of storage and use it immediately for whatever you have planned after a few checks.

What Are The Cons Of Buying An RV?

As with all things, buying an RV does have its downsides and drawbacks that may make you think twice about buying one. Below are some of the cons of buying an RV to consider:

Maintenance concerns: RVs often require repair and maintenance. Wear and tear on RVs can cost a lot of money, especially when expensive parts or systems need to be replaced.
Storage: Storing your RV can also lead to additional costs if you don’t want to risk it getting damaged by weather conditions. A storage facility can cost a small fortune for short or long-term storage if you don’t choose a reputable facility like I-10 RV Storage.
High Investment: Depending on your RV model, a standard RV investment cost can be between $35,000 and $300,000. This can be quite expensive as it does not include the expenses you will need to take on for insurance or licensing.

Is Renting Or Buying An RV Better?

Purchasing the RV itself is not the only expense you must consider. You will also need to regularly find storage for it and maintain it well, which can rack up quite an expensive bill. If you can comfortably afford its purchase, maintenance, and storage, then it is definitely the better choice for those who frequently travel and go long distances. However, if your travel plans aren’t nearly as frequent, then renting an RV is the better option financially.

What To Look For When Buying An RV – Buying New vs Used

If you’re leaning more toward purchasing a motorhome, you should consider the following factors:

Budget: Budgeting is important as you need to establish how much you are open to spending. This will help you determine whether you should opt for a brand-new or used RV.
Condition: Carefully and thoroughly inspect used RVs for wear and tear, maintenance history, and any signs of elemental damage.
Features: Carry a list or remember what amenities you need in your RV. Most newer RVs have up-to-date technology, while older RVs may lack some modern technology.
Size and Layout: Consider how much space you would need in an RV to accommodate your travel style. Many options are available to meet your needs.
Warranty and Support: A new RV is the best in terms of warranty coverage and dealer support. Used RVs usually don’t have any warranty or support, which may be costly in the long run if you experience any problems.

The Wrap-Up On Renting Vs. Buying An RV

Now you know the advantages and disadvantages of renting or buying a motorhome. If you’ve decided that buying a motorhome is the best choice, it’s important to consider where you’ll store it. Since buying an RV is a considerable investment, you’ll want to guarantee its safety when not used.

Fortunately, you can store your new motorhome with us at I-10 RV Storage. We offer multiple storage solutions and high-end security so you can trust that your motorhome is safe. Contact us here to learn more about our pricing and what you will receive with your storage bay.