As Americans wait for the U.S. economy to recover, families are still looking for ways to have fun and to enjoy relaxing vacations together, while still adhering to their budget.
RVing, a longtime favorite pastime in the U.S., has typically been considered a low cost option for families and retirees looking for an adventure, but that has changed. The RV industry has seen a downward spiral as consumers see less and less value in purchasing their own RV, knowing it will sit idle for most of the year. For many families, the best solution has come in the form of fractional RV ownership, according to news release from Encinitas, Calif.-based CoachShare Inc.
The concept of fractional ownership is simple: multiple families each own a share in an RV and divide the use and costs associated with it. For decades, this form of ownership has been extremely popular with private aircraft, vacation homes and yachts. Now, CoachShare has become an industry leader in fractional ownership by bringing that same concept to the luxury RV industry.
According to the University of Michigan, most traditional owners only use their RV on average 21 days each year, but they pay for it year-round. “Consumers are realizing that it doesn’t make sense anymore to buy an RV and use it a few weeks a year, especially in this economy” says James Palmer, president and CEO of CoachShare. The cost is a major factor for buying into fractional ownership, but RVers also complain about the time it takes to manage, clean, maintain, repair and move around an RV when they’re the sole owner, he noted.
People interested in fractional ownership with CoachShare simply buy the amount of time they need in an RV each year, either two, five or 11 weeks. Each owner pays their fraction of the purchase price to CoachShare, and also receives two days of complimentary driver’s training. CoachShare then manages the RV for the owner group, everything from cleaning inside and out and routine maintenance to securely storing the coach and taking it in for repairs when needed.