11 Smart Reasons to Rent To Own an RV

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Updated May 7, 2024

Do you ever wonder what it would be like to live the full-time RV lifestyle if you could only afford an RV? An RV that you can rent to own may be the perfect solution to get you on the road and living your dream sooner rather than later.

Today more than ever peoples cost of living is increasing day by day it seems. Having to forgo the extras we enjoy and deserve like vacationing or having hobbies is not something anyone should have to deal with.

RVs can be a significant financial commitment. For this reason, people may look at it as not possible to decide to wait just one more year. Luckily, purchasing an RV through traditional means isn’t your only option.

What Is A Rent-To-Own RV?

A “rent to own” RV lease is where a portion of your monthly rent is applied to the purchase price of the RV. And at the end of the lease, you own the RV!

Since you are not getting a loan from a bank, a rent-to-own RV lease can be a great way to avoid many of the roadblocks keeping you from obtaining financing for an RV. There are thousands of local RV dealerships and private RV owners who are interested in working with people who want to own an RV.

And a rent-to-own scenario is a win-win for both parties. According to The North American Camping Report below produced by KOA, more than half of non-RV owners indicated they would consider Renting their RV from a peer-to-peer service.

Since there are so many people interested in renting from others we figure there are some RV renters who want to be RV owners. But for numerous reasons, they haven’t been able to become RV owners. So, we put together a list of 11 Smart Reasons to “Rent To Own” an RV to help you decide if this is a good option for you to realize your dream of owning an RV.

1. Lower or No Down Payment

When you rent an RV to own you won’t need to put down a large down payment. And in some cases, you may not need a down payment at all. However, it is typical for rent-to-own leases to require the first and last months’ rent payment as a down payment.

2. You Can Rent with Low or No Credit

You are not getting financing from a bank so the owner will probably not run a credit check. This means that if you have no credit or some credit blemishes, you can still rent to own the RV.

3. Part of the Monthly Rent is Applied to the Purchase Price

The way a rent-to-own lease works is that a portion of each monthly rent payment gets applied toward the purchase price of the RV. You might be able to negotiate the amount that gets applied each month so try! You might also be able to buy out the lease earlier than when the lease expires. The sooner you pay off the RV the less rent you pay in the long run.

4. You Own the RV at the End of The Lease

This is the great part about the rent-to-own type of lease. Once you have rented for the duration of the lease the RV is paid for and you own it!

5. Work with a Motivated RV Dealer or RV Owner – Not a Bank

Most of the time you will be leasing the RV from an RV dealership or from a private owner. An RV dealer may be motivated to lease an RV to help increase cash flow or to move standing inventory. A private owner may be motivated to rent their RV to own because they can’t sell it or they can use the extra monthly income.

6. The Terms are Negotiable

Since you are not dealing with a bank all of the terms of the rent-to-own lease are negotiable. You should be prepared to negotiate the price of the RV, the length of the lease, the monthly rent amount, the amount of the rent that gets applied toward the price of the RV, who pays for certain maintenance items, the early payoff amount, or anything else you can think of. Private owners will typically be more flexible than RV dealerships but be prepared to negotiate.

7. You Can Buy RVs That Banks May Not Finance

Banks and finance companies will have loan guidelines about the age and mileage on an RV. For example, they may not give you a loan for a used RV that is over 10 years old. But by renting to own from an RV dealership or private RV owner you are able to lease an older and less expensive RV at a lower budget-friendly price.

8. There is a Huge Variety of RVs to Choose From

When you rent an RV to own you will be able to choose whatever type of RV you want. Every type of RV is available to rent to own.

9. The Flexibility of Renting for Days, Weeks, Months, or Years

Rent-to-own leases typically last for years but you can also just rent an RV for a short period of time. This way you can be sure you like RVing before you jump into buying or renting an RV. You can literally rent an RV for days, weeks, or months. The advantage is you only pay for the time you use the RV.

10. You Can Decide Before You Buy with Shorter Term Rentals

With a short-term rental, you can rent an RV before you decide to buy one. We did this before we purchased our very first RV. We rented a Class C RV for a week since that’s what we were interested in buying. We learned many things that we liked and didn’t like which led us to find the perfect Class C RV to purchase.

11. No Storage Costs or Maintenance with Shorter Term Rentals

When your lease is up you return the RV with no worries about where to store the RV or maintenance issues. You get to have fun and enjoy the RV while you rent it and return it when you are done.

RELATED READING: Check out our article called The Ultimate Guide to Renting an RV so you can find your best deal on an RV Rental.

Related Questions

1. Should I rent or own an RV?

If you use an RV less than 30 days a year for vacations or weekend getaways then you would be better off renting an RV. Renting an RV is also a great idea to try out an RV before you move ahead and purchase one or before you enter a long-term rent-to-buy lease. Outdoorsy is a great place to rent an RV. They offer an easy way to find RV’s of all types for rent and we highly recommend them. You can also check out our article 15 Essential Rental Tips for First-Time RV Renters for more information before you rent an RV.

If you will use an RV more than 30 days a year and travel for extended periods then you would be better off buying an RV. Check out our article called How Much Does A Class C RV Cost? You will get a good idea of not only how much an RV itself will cost but all of the other expenses you might have when you own an RV.

2. Where can I find an RV to rent to own?

The best place to find an RV to rent to own is your local RV dealership. They will have experience with rent-to-own leases and terms. To find private RV owners who are willing to rent to own check on Craigslist and Facebook. Be prepared to do some legwork in setting up the lease since neither you nor the RV owner will have much experience. Large RV Rentals companies like RVShare and Outdoorsy do not offer the option to rent to own.

Some of the large RV rental companies have a rent-to-buy program which is different than a rent-to-own program. A rent-to-own program is a lease where part of your monthly rent pays for the RV over time. At the end of the lease, you own the RV. A rent-to-buy program, like the one offered at Cruise America is where they rebate the amount you paid for rent, up to $3,000, when you buy one of their used RV’s for sale. This rental rebate is only available if you purchase one of their used RVs within 6 months of when you rented one of their RVs.

Is Buying An RV a Good Investment?

Let’s look at this from two different directions. Is buying an RV a good investment in the financial sense? In most cases, the answer is no. Like any vehicle, RVs drop in value every year after purchase.

On top of this, you have maintenance, repairs, and fuel none of which get added to resale value. It’s simply the cost of ownership.

Now in some instances such as people leaving their sticks and bricks home to live full-time an RV may actually save them money. So as a primary residence, it can save you money month to month. As a weekend toy, RVs are like boats, motorcycles, ATVs, and all the other fun things they shouldn’t be considered an investment.

If you look at it as a way to spend time and make memories with family and friends or spend the best year of your life touring Europe that’s priceless.

RVs are a getaway for many people something we as families love to do. As long as you stay within your budget purchasing an RV and with your travel the memories will pay for themselves.

Final Words About Rent-To-Own RVs

The idea of a rent-to-own RV may seem risky or uncertain to some people. The concept is a little unorthodox, however, it can be a great option for some people.

As we discussed, you must enter into a rent-to-own agreement confident it’s legit and that your payments are secure. Just like private sales, there are scams out there targeting those who aren’t aware.

There are a variety of reasons why purchasing an RV the traditional way may not work for you. If RV ownership is something you’re committed to and rent-to-own can make that happen for you that’s great.

As we always say about renting before you buy an RV, that can apply here as well. Before committing to a rent-to-own lease try a week-long rental to ensure you are making the right decision.

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Related Reading:

–What Is The Minimum Age To Rent An RV?
–What Is The Best RV Rental Company?
–25 Wise Reasons Not To Buy An RV
–25 Best Places To Buy An RV

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