Maxdeath
Diamond Member
- Jun 12, 2018
- 7,965
- 6,649
- 2,050
That may work but an awful lot of risk would come with that setup.If they ask, I'll tell them exactly how foolish they are.Perhaps. But people are still allowed to make mistakes. I think those spending half a million or more on a house that has more rooms then they use as foolish but I do not tell them how crazy I think it is. To each their own.Doesn't change the fact that it makes them fools.People who buy RV's and don't use them or don't rent them when they are not using them, are fools.RVs depreciate rapidly. So it makes sense to buy used. Many people buy RVs then seldom use them. You can find ten year old RVs very lightly used, selling for a fraction of their cost new.
Eh, they buy an expensive toy. Whether they use it or not is up to them.
I actually looked into purchasing an RV and paying for it through rentals to vacationers. There are even dealers out there that will allow you do do this. You simply set aside those dates that you don't want the RV rented so that it is available to you when you want to use it. The problem with that is that the wear and tear of renting is significant compared to just ownership, but you still basically get an RV for the cost of a down payment.
There are other ways you can tailor the rental agreements so that the RV is rented only the necessary number of times to make that years payments. This ups the price range of RV's you can look into for yourself. You'd have to be sure to rent it enough times to pay it off inside of 3 to 5 years in order to make it work, however.
The first thing that comes to my mind is getting insurance that would cover that type of RV setup. There are only a handful of companies that handle fulltime RV insurance. As soon as you mention that you or a relative are not the only drivers they may not insure you.
The next is what happens if the person that rents it tears up the inside? Blows up your holding tanks? What happens if they total it? Since RVs depreciate quickly if totaled will insurance pay enough? Will they pay at all if you rented it out? Will they pay if whoever is driving is killed?
Do you trust who ever rents it to not leave it along side the road? Who pays for a blown tire? If a blown tire is it do to age and rot or is it do to road damage?
Do you leave your things in the RV or do you pull everything out?