How RV fractional ownership works

A recent University of Michigan study found that most RVers only use their vehicles for three weeks each year. But there is a solution for those who want the convenience of having their own RV without the financial and time commitments that go along with full-time ownership. It's called fractional ownership.

Basically, fractional ownership is like an RV timeshare. Individuals buy a portion, or share, of the vehicle that entitles them to a certain amount of use each year. For example, if they know they'll only have two weeks per year to use their RV, they buy a sixteenth share. If they want to use it five weeks per year, they buy an eighth share. And, if they want 11 weeks of RV use, they buy a quarter share.

In addition to getting the advantage of RV ownership at a fraction of the cost, fractional ownership may be a good option for people who don't want to or don't have the time to dedicate to RV maintenance or storage.

One of the most well-known companies that specializes in fractional ownership is CoachShare. They offer a three-year ownership period that saves owners as much as 80 percent over full-time ownership of a similar vehicle. As part-time owners, individuals get to use the vehicle for the amount of time they choose, while the company takes care of storage, maintenance and cleaning.

At the end of the contract, fractional owners get a portion of the sales money of the vehicle to either take or put towards a new contract.