If you are planning to purchase a recreational vehicle (RV) or a camping trailer, there are many things you need to take into consideration. RVs and trailers come in an almost infinite variety of sizes and configurations. On top of that, there are a multitude of features to decide on. Before you make your purchase, here are the most important things to keep in mind: 1. Not considering interest rates or taxes When an RV or camp trailer is financed, it will have an interest charge like a home or car loan. Sales tax and registration fees can be anywhere between a few hundred and a few thousand dollars, so ensure you take those added costs into account. Since RVs are considered luxury items, finance rates tend to be a few points higher than homes or cars. As of mid-2021, the average interest rate on a new RV is around 6%. This amount will vary based on the lender, your credit score, the amount being financed, and the length of the loan. 2. Going too small When choosing an RV, remember that it needs to be large enough to fit your family, pets, and gear. Pay attention to the number of sleeping locations and the square footage to ensure you’ll have enough space.