You do know that there is a way to own one of these basically free, don't you?
I've been looking at these for a while now.
I'll 'splain really quick: You purchase one used from CruiseAmerica. They still have the warranty and can be completely refurbed cheap. You save around $20000 from new.
Payments would be about $400/mo. or so, meaning your cost to own would be around $4800/yr. plus insurance/fees bringing it to maybe $5500/yr.
You get registered as a self proprietor or S-Corp business, and rent it out 3-4 times a year. The FunMovers go for around $1700/wk. after fees, so 3-4 weeks rent per year would cover all your expenses.
Now the fun part: Thanks to the new tax plan, small businessess can write off up to $100,000 as opposed to $25,000 on new capital expenditures. You write the whole damned thing off, taking the chunk depriciation option. You then show a loss for the first two years (even if it's $50).
**Consult a tax attorney for all the specifics.
For the first two years, not only do you have a motorhome you don't pay for, it puts a few bucks in your pocket. After that, it still pays for itself, and you may find that it is worth buying a second motorhome just for rental purposes.
Voila - that's it. Just like the rest of life, if you're willing to take a small risk up front you can have a reward.
If you finance it as a second home, you will have a harder time recouping costs as a business. Most lending institutions will go 15 years at around 6% on a motorhome.
If you are serious about buying a motorhome, read my first post. It works, as my motorhome has paid for itself since the day I bought it. I will probably be doing it with a FunMover soon enough.
According to multiple polls, more Americans are planning on vacationing this summer than the last two summers. Most Americans are also planning on spending as much money or more this summer than in the past.
However, more Americans indicate that they will NOT be flying for their vacation. What sector of vacation transportation do you think is growing more rapidly than all the others?
That's right, R.V.ing.