How do People Afford Sprinter Vans? I Share My Exact 6-Month Plan

How do people afford sprinter vans which can be in the 100k range? In this article, I’ll talk about speculations and what my plan is to save up for life on the road.

Photo by Drew Bernard on Unsplash

How do you afford your f$%ing Sprinter???

Ha. I enjoyed this baffled post by Colonel Mustard on Mountain Project. Like many others, he’s throwing his hands up at how all these young people are able to afford a nice van. On top of that, they seem to have lots of leisure time.

So, how do people afford sprinter vans?

People have their speculations.

A quick look at Reddit and other forums show people think it’s one of three options…

They’ve Inherited Money From Rich Parents or Relatives

It’s funny how people jump to this one. Because someone is young or don’t look like they’re able to afford an expensive van, people assume they’re given handouts.

I mean, that could be the case. But I’m betting that the average American is more likely to be a part of this next category:

How do People Afford Sprinter Vans? They Might be Living Beyond their Means

Like many Americans, they likely took out a loan for it. Personally, this is the option I chose in order to get into my van before my lease is up in a couple of months. I couldn’t get one due to various reasons, one of which being I have a “thin credit file” 🙄.

If you can secure a RV or auto loan, this is your fastest way to owning your own “sweet ride”.

They Saved Up for It

This is the option I’m left with. And, if you’re smart with your money, this is probably the method you would opt for.

It’s easy to spend the money you make. I’ll be honest—I make six figures and I still find myself wondering where it all goes at the end of the month.

It’s like putting a goldfish in a bigger bowl; it will grow to fit the space.

As humans, we quickly establish a new normal when we start making more.

It takes intentionality and self-discipline to save. Once you know van life or tiny living is what you want, it’s about cutting back and staying consistent.

Is it Really that Bad to Get a Loan?

Okay, I wouldn’t say it’s bad to get a loan. But you end up paying a lot more than what the van is worth.

You can skip this part if you know how loans work, but I used to be clueless to this stuff. I know how it feels.

Let’s say you take out a loan for a used, decked-out sprinter. The seller is valuing the sprinter at $75,000. Let’s say you put about 10k down which leaves a total loan of $65,000.

The average APR I saw while applying for RV loans is around 5%. It doesn’t seem like much, but this loan calculator showed me the interest in itself is an additional 12k.

Check it out:

If your loan term is 7 years, you end up paying 12k on top of the original price of the van. That’s another 12k of your hard-earned cash.

I mean, if I could have gotten a loan, I would have done it. It feels good to get that van now while telling yourself the extra 12k is worth it.

For you, it might be.

Beware of Buyer Urgency

There are two factors that made me feel I needed a van, right now.

First, my lease is up in March 2022, which is a little over a month away. I didn’t want to bleed $1300 of rent every month for another year, so signing another lease was out of the picture.

And a house? Blegh. No, thanks.

For years, I’ve wanted a tiny home, but a sprinter van seemed like a good balance between mobility and amenability.

I started looking into how much used sprinter vans are, and it’s usually in the 70 to 100k range. So expensive, what the heck!

I found a fixer-upper at around 55k.

That leads me to the second factor that made me feel urgency: the market.

I was afraid that if I didn’t swoop in and grab the van I wanted, someone would buy it. So a loan is the fastest way I can get the van I want in case others are looking at it. (It’s like dating, right? No one wants to feel like they dated someone “that got away”…)

It sounds like I have to say goodbye to my sweet van. 😢 (unless no one buys it in the next six months!)

My Six Month Plan to Afford a Sprinter Van

Photo by Dariusz Sankowski on Unsplash

I need somewhere to stay when my lease is up. But it’s likely not going to be a van.

When I reached out to my brother-in-law for help, he gave me an interesting proposition:

He’s challenged me to save up at least 10k while Airbnb hopping for the next six months. If I do it successfully, he’s agreed to put in 5k and loan me another 40k at 0% interest. I have 10k saved right now, so that gives me 75k to buy a van with.

I was skeptical at first (because I want the van NOW!) but he has a point:

• Airbnb hopping has some overlap with full-time vanlifing. I’ll figure out quickly if vanlifing is something I can tolerate full time. It’s a much better option to find out that way instead of finding out while tied to a 75k debt.
• I won’t have to wait another year while bleeding money on rent. That gives me the chance to save up faster.
• If I can save while on the road, I’ll be able to save when I get into a van, too. Living in a van isn’t always cheap. It can be just as much as renting, especially when you factor in the cost of parking, equipment, maintenance, and insurance.

There are a lot of differences between Airbnb hopping and full-time vanlifing, but there’s enough overlap. I feel like I’ll be in a good place to transition to full-time van life in six months.

It’s Going to be an Adventure these Next Six Months

I’m toying with the idea of going off-grid in order to save up even more.

The equipment I would need to go off-grid is pretty expensive. I need to do some math on whether or not it’s worth it to invest in equipment. If not, Airbnb and hotels it is.

Oh, another caveat. My parents have a house on Long Island, so I plan on Airbnb-hopping until I get there. I’ll likely stay there for a month or two to save even more.

Oh, and one last thing. I have a cat and a dog. So it’ll be interesting to see how I handle taking both of them on the road. It’s been done before, but it might get a bit tricky.

I Know I’m Privileged

I can’t say how everyone else can afford a sprinter van, but this is how I plan on doing it.

I’m incredibly fortunate to have such a generous brother-in-law that’s willing to help me pursue my dream of living on the road. But I know that saving up these next few months is going to be hard work, too.

I plan on sharing my wins and failures as I cut costs, so you can learn from my journey.

It’s vulnerable, putting this plan out into the world and hoping it doesn’t explode in my face.

Who knows? It might.

But if my journey can help someone else out there that’s interested in doing the same thing, then it’s worth it.

I’ll be posting updates on IG @_chasingembers. Come hang out!