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RVing 101
A Class A motorhome is constructed on a specially designed motor vehicle chassis. Class A's are the "Big Boys" of the motorized RVs, and are the most favored motorhome of full-timers. A Class B motorhome is a compact unit that looks much like a regular van. These are popular because they can often be parked in the family garage or driven around town as a second vehicle. Per square foot, however, a Class B usually costs more than a Class C. A Class C is built on an automotive-manufactured van frame with an attached cab. The motorhome manufacturer completes the living section and attaches it to the cab section. A Class C motorhome is easy to identify: In most cases, a full, or queen, size bed is over the cab.
This is much like a conventional travel trailer except it is built with a raised forward section for a bi-level floor plan. Fifth wheels, which are very popular with full-timers, are pulled behind a pickup truck with a special hitch. They are very stable to tow and spacious inside.
Loans for new, large RVs typically range from 10 to 15 years, with some extending even 20 years. Whether the purchase is financed through a bank, savings and loan, finance company or credit union, seven out of ten lenders require less than a 20 percent down payment. Some lenders require as little as 10 percent.
I understand that I can write off the interest on the RV like it was a second home. Is this true?
Yes, as long as the RV is used as security for the loan and it must have basic sleeping, toilet and cooking accommodations. The IRS publishes two booklets that contain helpful information on this subject. Copies of" Publication 936 - Home Interest Deduction" and" Publication 523 - Selling Your Home" are available by calling the IRS at 1-800-829-3676.
When the diesel powered coaches debuted, they were expensive. But nowadays, they have come way down in price and are very affordable and popular. If you are considering buying a Class A motorhome, you will likely be considering one that's diesel-powered. Veteran Full-timers and RV authors Barb and Ron Hofmeister add this: "The diesel motorhome rides quieter because the engine is in the rear on most, can hold much more cargo including heavier materials in the interior such as Corian counter tops, china toilets, and so on. Diesel models usually have super transmissions and pac brakes which make mountain driving a breeze. The advantages of a gasoline engine is primarily the price. The new upper chassis (both Ford and GM) make gasoline engine motorhomes a good buy."
A motorhome is a good choice if you move around a lot with brief stays in each place; you probably won't need another vehicle for sightseeing or chores; if you need a vehicle, however, you can tow a small car or truck. An advantage of a motorhome over a towable RV (trailer or fifth wheel) is that you have access to the unit while you're on the road. It's easy to grab a snack, for example, or use the toilet (tell the driver to avoid fast turns!".)
A trailer or fifth wheel is often the best choice for full-timers because they can park it and then drive the tow-vehicle. For RVers who spend weeks or even months in one place, a fifth wheel or trailer is often preferred. Towable RVs are also much less expensive than motorized ones.
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