RV Lease: How to Rent to Own an RV (Pros and Cons Explained)

RVs are just like houses. You can by one, sell one, you can even rent one. But that is not all, just like traditional homes, you can rent to own an RV and slide gracefully into that RV life you have always dreamed about.

How to Rent to Own an RV: One of the best things about renting to own an RV is that you can do it with little or no credit. Plus, your down payment won’t deplete your bank account so you will have lots of money to take those grand RV vacations you always wanted to go on.

There are a lot more pros to renting to own an RV. To find out about them and learn about some of the negative aspects of renting to own, just continue to read our article. It is filled with the information you need to know so you can find the right rental path for you ad your family.

Can You Rent to Own an RV?


Yes, it is possible to rent to own an RV. It is a good way to get an older RV especially when banks do not want to lend money for older units. There are companies out there that use the rent to own method to make sure they can move their stick very quickly.

Then there are plenty of private owners looking to get rid of their RV and settle back down into traditional lifestyles. The basic term is usually for 48 or 60 months, much like buying a new car.

The key to renting to own is to watch out for bad credit scams and high-interest rates. Both can be the negatives that kill a wonderful opportunity. Also, renting to own helps cut down on the upfront costs that come with buying a new RV.

If you find the right private owner or dealer, you should be able to keep your monthly costs realistic as well. Rent to own is a very good way to ease yourself into the RV lifestyle and see the country at your leisure.

How to Rent to Own an RV

How-to-Rent-to-Own-a- RV

The very first step would be to search the newspapers and the internet to find private owners and dealers willing to sell their RVs on a rent to own basis. Once you find one with an RV you like you make sure the purchase price and rental costs are something you can afford.

Then after you do that, you start negotiating. RVs are just like homes and you can put in your own offer to make sure you get the costs down to a more realistic figure. The key to negotiating is not to insult the seller when you make your offer.

If the purchase price is too high, just walk away and find a new seller with a similar RV.

Also, once the deal is set, you need to make sure the contract spells everything out clearly. You need to know what is your responsibilities are and what the seller is responsible for.

Read the contract thoroughly to make sure there are no hidden costs, changes in interest rates and so on. When you are satisfied that everything is on the up and up, pay the cash and take the keys and drive your new RV home.

RV Rent to Own Pros


Renting to own isn’t a new concept. It is applied to a variety of different items to help people make purchases they normally could not make. It may cost a little more to do but there are still a lot of positives that come with using the rent to own program when buying an RV:

No bank hassles - banks can be a pain in the behind when it comes to getting money for a loan on an RV, especially if it is an older model.

Rent to own are privately financed - you pay the seller directly, whether he or she is a dealer or a private party. There is no middle man and no selling of your loan paper. You know where to send your money every month.

Little to no down payment - that is good news. Upfront costs are minimal and you save some money for other expenses.

Bad credit is no problem - if you have not been able to keep a perfect credit score, you can still use the rent to own system. It helps build your credit once again plus, makes it easier to own an RV. Just be careful of high-interest rates and other bad credit scams.

You can negotiate terms and price - this is not always something you can do with banks or new RV dealers. While there is some leeway with the purchase price the terms are pretty much set in stone.

Sellers are usually motivated - they want to get rid of their stock if they are a dealer, or they want the RV off their hands quickly. You may get very favorable terms and a good purchase price if you find the right private seller who needs to make a quick sale.

You can make extra payments - like a home mortgage, if you make an extra payment, that money goes towards your purchase price only, not the rental costs. This option allows you to save on rental costs and cut a year or two off the rent to own term.

Lease RV to Own Cons

While the rent to own method does have a lot of positives about it, it is not a perfect system. There are some negative aspects that you should know about before you sign your name on the dotted line:

  • Everyone is not honest - there will be those people who will try to take advantage of you. They may raise the interest rate, make the wording of the contract very tricky and hard to understand and more.
  • Depreciation - you may end of paying more for the RV than it will be worth once the lease is done.
  • Upkeep, maintenance, and other expenses are on you to pay. Be prepared to pay for things just like you would if you bought a traditional home. Paying a rental fee doesn‘t mean the seller is responsible for any costs you incur unless it is stated in the contract.
  • Paperwork is not always correct - this is part of the bad credit and other issues that arise when you rent to own. Sellers may not be on the up and up and try to sell you an RV and not have the proper papers to do so. Double-check to make sure everything is in order before you agree to buy.
  • Bank financing may not be available - banks can be very conservative when it comes to loaning money on what they call a luxury item.
  • Insurance costs - this is an expense you need to consider before you agree to purchase a used RV on the rent to own plan. Can you afford the insurance rates is the question you need to ask yourself.
  • Storage fees - if you are not going to live in your new RV full time, you may need to find a place to store it. This can cost you up to $400.

RV Lease to Own Contract

Writing a rent to own contract for an RV is not that difficult. Again, it is like writing a contract on a for sale by owner when you buy a traditional house. The only difference is, the seller will need to have your current address, phone numbers, and other personal information just in case something goes wrong.

Here are 6 steps to writing a good rent to own contract:

First, provide your home address, phone numbers, including cell phone number, driver’s license number and other pertinent information on the contract. If something goes wrong, the owner will need to get a hold of you.

Second, write in the amount of the monthly fee and how much of that fee goes to rent and how much applies to the purchase price. Include the amount of deposit, the original purchase price and other financial details, like insurance, etc.

Third, include the length of the term of the contract. How many years you have to pay and so on. Also, include any restrictions that need to be followed until the term has expired. For example, who can drive the RV during the term.

Fourth, include any penalties for late payment and other actions that take place over the term of the contract.

Fifth, make sure everything is spelled out in the contract so that there are no surprises 3 years down the road.

Sixth, make sure to have all signatures notarized, and that everyone has a copy of the agreement.

Rent to Own RV no Credit Check


The good news for those who have bad credit is that there are plenty of dealers and private sellers who will sell on the rent to own format. They also do not do a credit check.

The best way to make sure that there is no credit check is to make sure your down payment is large enough to keep your monthly payments low. You want to make sure that when an emergency takes place, you can still make the payment son your RV.

One thing though, you should be aware that a large majority of rent to own sales are for pull-behind trailers. You will still find a lot of good RVs on this program just not as much as pull-behind trailers.

Also, one application for a no credit check rent to own contract asks for 6 references. The dealer wants to make sure you will pay the amount owing as agreed. It also asks for SS number, employment details and other important pieces of information.

This particular application form is only 2 pages long but keep in mind, it is only the application form to be eligible for the rent to own program. The contract is a different matter and is filled with different details.

How to Find Rent to Own RVs Near Me


More good news for you. There are plenty of rent to own RV dealers that maintain an internet presence. A quick search on RV rent to own or something similar should get you a good list of them.

Some are national dealers who have outlets around the nation. You will have to check their addresses to see if any are actually near you. Another place to check to find a rent to own dealer near you is to go on the different RV forums and ask.

The experienced RV owners may know of a company or even private sellers that may be in your area. They also meet RV owners on a regular basis and can have a lot of leads for you.

Then if you are not technologically equipped, you can turn to the yellow pages in your hometown. There should be enough RV dealers listed where you can find one that does rent to own or at least send you in the right direction.

Finding a rent to own RV seller in your area, especially if you live in a large city, is not going to be that difficult. All you have to do is set some time aside to do some good research.

While you are at it, research rent to own contracts, how to write them and what details you should have included in yours.

Some Final Words

Rent to own is a great way to save on RV purchase costs. With new RVs selling in the hundred thousand plus category you may not have the money for a down payment, let alone the monthly payments.

Rent to own is a great way to go and should save you a lot of money. Even though you may not get a brand new RV, you can still get one that fits your preferences and lifestyle. You also may get great terms from a very motivated seller.

Check out the rent to own format as it may be your ticket to a great RV lifestyle.

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