CoachShare, a San Diego, Calif.-based company that sells fractional ownership shares in luxury RVs, is now offering a money- back guarantee to all of its customers – a first of its kind in the RV industry, according to a news release.
The money-back guarantee lets new owners return their share within the first 90 days if they are not completely satisfied with the program.
“A money-back guarantee may be common in many industries, but not in the RV industry,” says James Palmer, president and CEO of CoachShare Inc. “When you buy an RV from a traditional RV dealer, once you drive it off their lot, it is yours, whether you like it or not.”
Palmer said they launched the money-back guarantee to take the risk out of buying a fractional ownership share.
“Many people are unsure about our fractional ownership program because it is a new way of owning an RV, or they are just unsure about RVing altogether,” he said. “A money-back guarantee lets them try our program and RVing, knowing if they are not 100% satisfied they have a way out.”
Fractional ownership, very popular in the private aircraft, yacht, and vacation home industries, is a relatively new concept for RV ownership. An RV is purchased and used by multiple owners, while CoachShare facilitates, manages and maintains every detail for the owners. Each owner purchases a time increment that fits their needs, either two weeks per year, five weeks or 11 weeks. The ownership period lasts three years, after which the coach is sold, each owner gets a check for their share and the owners are free to walk away, continue with CoachShare or purchase their own RV.
The major benefits of fractional ownership to the consumer are the savings, service and convenience. “With CoachShare, our owners are not paying for their coach to sit around unused most of the time; they have a professional management team to take care of all hassles so they don’t have to,” Palmer said. “It’s the best value in the RV industry for the casual RVer, who wants a very nice, well-kept coach with all the amenities, but doesn’t want to spend the money to purchase their own, or spend the time to maintain it.”
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.