The cost of owning either a motor home or travel trailer goes beyond even the total purchase price. This is because what people pay to buy it is just the beginning of the overall expenses. Meanwhile there is no exact figure that will represent the cost that RV owners pay. Although it is fairly easy for one to experience the general estimates and therefore get an overview of the total cost.
How much does it really cost to own an RV?
Here are five general expenses that affect how much one will pay to own rvs. This will help in understanding about ownership costs that are related RV ownership especially to small business. These also must be considered if one decides to make a purchase.
1) Variation in the cost of insurance
Since RV is considered to be a vehicle, one do not need to purchase an automobile type of insurance cover. The cost of such insurance cover depends on the attitude and the charges of insurance companies. There are those insurance companies who charge reasonable rates, insurance companies like this normally give opportunity of small business to take the advantage. Some, are extra expensive or even limit how much they will cover. However in some countries like United States, insurance coverage for RVs has gone up to two thousand dollars to insure. This is because of natural disasters which affect United States. Here is a closer look at the cost of insurance.
2) There is difference in the cost of storage as well as taxes and how they are paid
Someone who has its own storage facilities for recreational vehicles has them parked at no extra cost. For small business, this is a challenge and in most cases not possible. This call for rental of storage facilities, for which one can pay up to two thousand five hundred dollars per year.
A person who pays the amount in cash pay lees as compared to one who pays in installments. This is because cash payment avoids paying interests. For small business who use installments, owning an RV is more expensive.
3) Property taxes charged by the government
Owning a recreational vehicle is considered property and therefore charged a tax. Small business that own rvs near cities pay more in terms of taxes. Tax rate goes beyond 1.89% which is normally charged at cities under certain circumstances. High tax rate in cities is what will goes owning of recreational vehicles to be high. In some places such rates could be as low as 0.89%.
The above factors need to be considered before one decides to make a purchase or own rvs. Remember this are average figures and therefore might be high or low depending on the place.