The RV Rental Option
More people are renting RVs and travel trailers for their vacations.
Many RV rental companies have
added more RVs to their
rental fleets to meet this high demand. Even with high fuel prices, rentals
for RVs that get 10 mpg were up about 25% this past summer.
Many RV rental franchises went weeks where everything was out for rent.
Daily RV rental rates range anywhere from $80 to $200, depending on the
time of the year and the size of the RV. Many RV renters see this as a
bargain because they are not paying for hotel rooms, a rental car or expensive
restaurant meals.
RV renters are in a different class from RV
buyers. Someone shopping for a $300,000 diesel RV isn't likely to
change their mind because fuel prices go up. That's more of an issue for
buyers of less expensive RVs and travel trailers, according to RV dealers.
RV sales peaked in 2004 when interest
rates were low. It could be a few years before those RV buyers are ready
to trade their motor homes for new ones. RVs are much like a home. Anyone
who financed a home and got a really low interest rate in 2003 would not
be that interested in selling that home and buying another one when rates
are higher.
For that reason, RV rental franchises are anticipating an even higher
rise in RV rentals until interest rates decline once again.
