How to Offset The Cost of Owning a Recreational Vehicle
If you’re considering buying, or you currently own a recreational vehicle, you may be wondering if you’ll get enough use out of it to justify the cost.
There’s no denying that recreational vehicles can be expensive to own and maintain. There are the initial purchase costs, fuel costs, insurance, accessories, storage, and routine maintenance costs to factor in. While these prices can be costly, don’t let them deter you from investing in a fun new toy!
In today’s article, we’ll be discussing the different costs associated with owning a recreational vehicle and how you can offset them.
The Cost of Owning a Recreational Vehicle
While the initial costs will vary depending on the type of vehicle you buy, there are several costs associated with owning a recreational vehicle that you may not have considered. Whether you’re purchasing an ATV, UTV, RV, Snowmobile, Jet Ski, etc., here are some of the many costs you’ll need to be aware of.
If you can’t pay cash for your new vehicle, you will most likely have to finance the purchase with an auto loan. You’ll want to keep these monthly fees in mind when budgeting for your new toy.
Insuring your recreational vehicle may not be required in your state; however, it’s in your best interest to protect your investment. These rides are fun, but they can be costly to repair and devastating to replace if stolen. Just like car insurance, you can get varying levels of coverage to suit your needs and budget.
To legally drive your ATV, UTV, Snowmobile, or other recreational vehicles in most states, you’ll have to register the vehicle. The registration fees vary, so be sure to check with your state’s DMV website.
Fuel costs will vary depending on the type of vehicle you buy and how often you use it. Note that consumption tends to be much higher during the summer months.
Service & Maintenance
If you’re new to the world of RVs and recreational vehicles, it’s important to note that these rides require regular service and maintenance. Just like your car, owning any type of recreational ride requires more than the occasional oil change. Refer to your owner’s manual for the recommended service intervals to keep your ride in pristine condition and avoid costly repairs.
Storage and Winterizing
Depending on the climate in your state, you may not be able to ride your ATV, UTV, or other recreational vehicles year-round. You’ll have to consider winterizing these types of toys in addition to finding monthly storage if you don’t have the space.
Offset the Cost of Ownership by Renting Out Your Recreational Vehicle
The average RV owner only uses their recreational ride between 28-35 days a year, so the cost of ownership can feel pretty pricey considering how often the vehicle is being used. A safe and easy way to recoup your cost of ownership is to rent out your ride on DayTrail, any easy-to-use platform that matches responsible renters with recreational vehicle owners.
The Benefits of Renting Out Your Recreational Vehicle on DayTrail
There are several benefits to renting out your recreational vehicle on our insurance-backed peer-to-peer rental platform.
Low Effort Side Hustle
Who doesn’t want to make more money? Renting out your ride puts more money in your pocket while offsetting your cost of ownership. Have fun when using it, then let it earn some money for you instead of sitting in storage.
Become Part of the Community
Without a doubt, recreational vehicle owners love to get out with their rides and enjoy the outdoors. DayTrail is an excellent way for renters and owners to connect with other enthusiasts. You’ll also be providing an incredible service to people who’ve been considering buying an outdoor toy by letting them try before they buy.
Get Good Use Out of Your Investment
If you aren’t using your equipment as much as you’d like, it can be discouraging to picture it simply sitting in your garage. DayTrail is a great way to ensure that your ride is getting the use it deserves.
Listing Your Vehicle is Easy with DayTrail
DayTrail is a safe and simple way to rent your vehicle to other outdoor enthusiasts. It’s backed by insurance to ensure secure transactions, so you’ll have peace of mind when renting out your ride. Simply list your vehicle, accept your bookings, and hand off your keys.
If it sounds easy, it’s because it really is. Try our rental calculator to see how much you could make renting out your Vehicle on DayTrail. Let your recreational vehicle work for you!