For many people, purchasing an RV or travel trailer can be an exciting, yet overwhelming, experience. RVs are incredibly practical for those who crave the adventure of the open road. Trailers are quite useful when one needs to move a large amount of goods safely and effectively.

Unfortunately, it is common for people to buy an RV or trailer impulsively, without realizing the potential ramifications of rushing such an important purchase. From not sticking with a budget, to going too small, or even forgetting tow weight, here are a few common pitfalls people make when purchasing an RV or trailer:

1. Buying an RV in the wrong condition

While purchasing an RV secondhand can be a great way to save money, it is important to ensure that it’s up to standards. Many people will take an attractive looking RV at face value and assume it’s good to go. If possible, it’s a good idea to have a specialist inspect the RV in order to ensure that it’s safe. Such a large purchase is expensive enough without any surprise repairs or unexpected bills along the way.

2. Not taking size into account

Before purchasing an RV or trailer, it is important to examine what the main reason for this purchase will be. Will this RV be used to allow a young family road-trip across the country? Will this trailer be hauling quite a bit of expensive equipment on a regular basis? What started out as a fun, family vacation may soon become a nightmare if everyone is cramped in a RV that is too small. The same can be said with a trailer hauling a sizable amount of equipment. It is important to take these factors into consideration before making a truly regrettable purchase.

3. Forgetting there are interest rates and taxes

Along with considering one’s budget, interest rates and taxes must be taken into account as well. Unless one is purchasing an RV or trailer outright, interest rates must be closely examined. What started off as an $80,000 RV could quickly skyrocket if interest rates are higher than expected. It is important to consider these issues in order to avoid any costly surprises.

4. Forgetting tow weight

Another common mistake made when purchasing an RV or trailer is not keeping in mind the tow weight of one’s personal vehicle. Many people purchase a trailer and completely overestimate the maximum amount of weight that their vehicle can handle. It would be an unpleasant surprise to learn that one’s vehicle is incapable of handling such a large load while driving down a busy highway. Not only would this be extremely distressing and unfortunate, it’s also incredibly dangerous.

5. Not sticking to a budget

RVs and trailers are a major investment. Such large purchases require one to seriously examine the state of their personal finances to see if they can afford it. Many people often look at the cost of an RV or trailer at face value and assume it’s within their budget; However, one should also consider the cost of insurance, taxes, as well as its overall fuel economy. All of those side expenses can add up to an exorbitant amount that may not end up being within budget after all.

By keeping these important points in mind while contemplating an RV or trailer purchase, one can rest assured that they will be making a sound investment.