It is almost impossible for me to answer the question, “are RV prices dropping or not?” because it depends on what you want. If you look back a few years, the market has been strange the past couple of years since COVID hit. Every single business was hit by the fall in the economy. This also includes the RV industry. Due to COVID restrictions, several people looked to RVs as getaway cards. Since the government encouraged all of us to distance ourselves socially, many families took up RVs as their mobile vacation centers.
Additionally, since many businesses became remote, it was the perfect escape for a family to enjoy the outdoors without going outdoors. You do not need to be an economic expert to know that the prices of RVs will skyrocket with the increase in demand. And that’s exactly what happened; the prices of RVs reached an all-time high during and after the pandemic.
You might think it was all profit why are RV prices dropping. But I discovered after in-depth research that manufacturers also struggled. They struggled to cope with the increase in demand for their products. However, I also discovered that it was not the number of orders that made them struggle. The COVID restrictions also reduced their workforce.
Are RV Prices Dropping?
The demand for RVs was going through the roof. But manufacturers could not keep up because employees who created RVs were stuck at home with the rest of us.
The few that were able to make it to work had to work double time. Some RV manufacturing plants completely doubled their production rate to meet the demand. We are all humans, and an increase in workload causes mistakes. Hence, the quality of some RVs dropped, but the prices kept going up. But one positive to pick out from all of this is that if you took out a loan to purchase your RV between 2020 and 2022, the interest rates were really low. This decrease in interest rates allowed a lot of homeowners to afford to add a mobile home to their collection.
But against all odds, the RV prices are coming back to normal. I’m sure you find this hard to believe because economic inflation is hitting new heights and lending rates are also going through the roof.
Towards the end of last year, RV shipments went down by 16%. Paving a path for lower prices for RVs. Experts are suggesting that this trend will continue in the second half of 2023.
Factors That Affect RV Prices
Factor
Implication on RV
Age
Older RVs are cheaper
Mileage
Lower mileage = higher prices
Condition
Better conditions = higher prices
Brand
Established/reputable brands = higher prices
Size and Class
Large and classy RVs = higher prices
Features
More amenities = higher prices
Demand
High demand = high prices
Low demand= low prices
How Can I Get an RV?
Since restrictions have been lifted, more people keep turning up with their RVs for sale. Most people bought an RV due to COVID regulations. But since the vaccines pulled through, a lot of people don’t need their RVs anymore. Hence, you can make good use of the situation to get the best RV for a takeaway price.
However, if you do not want a used RV, you can always go to a dealership to get a new one. I only suggested second-hand RVs because a lot of people got to use them when popular travel methods were all shut down. But now, you can hop on a plane and fly anywhere in the world as long as you are vaccinated. Thus, there are a lot of RVs lying around. And many people only used them during the lockdown.
Additionally, with the price of fuel increasing each day because of the Ukraine-Russian war, a lot of campers have given up camping. It is increasingly difficult to keep a camper rolling. And they will be willing to sell. You just have to find someone willing to sell.
How Can I Buy an RV at a Cheap Price?
There are several ways you can get an RV at a cheap price off the market. You will learn all the relevant tricks to get an RV at a cheap price in this section.
• Buy From the Manufacturer
Buying at a dealership always means you will pay a higher price. A dealership will always add a percentage to the total cost to make a profit. You really can’t blame them for doing that. They are in business to make a profit. However, this profit line may not be the most conducive for you.
Hence, if you are on a tight budget, I suggest you contact the manufacturer directly. You can always preorder an RV before they assemble it, and they will ship it directly to your address. Cutting out the middleman.
You can even ask for customizations on your RV. I’m sure you would love that. However, do note that custom designs come at a higher price. But at least you know you will be getting something tailored to your precise needs.
• You Can Choose Towable RVs
You do not need much explanation on this one. Towable RVs cost a lot less compared to drivable RVs. Since they do not have to include engines and other moving mechanics like automatic or manual features, the price tag is lower. If you do not mind towing your RV around, you can opt for a towable RV. Not only that, but the maintenance is also cheaper. You do not have to change the oil every month or refill your tank once it is low.
• Negotiate With the Dealership
If you prefer buying from a dealership since they come with more perks and are more trusted, I suggest you negotiate with them. The asking price of an RV is just the asking price. You can also negotiate to bring the price a little lower. However, I will not advise you to expect a lot from negotiating with them.
It is common for dealerships to offer discounts. Especially dealerships that are not located in Oregon, Delaware, New Hampshire, Montana, or Alaska. Dealerships in these regions have massive sales taxes heaped on them. And since they are running a business, they will transfer that cost to you, the buyer.
Also, I would advise you to pay close attention to the car papers you sign. You may sign an extended warranty, which will make the RV cost a lot more.
• Wait for the Fall
RV prices usually go down during the fall. Most people prefer staying indoors during the fall. Hence, you can get RVs for cheaper price tags without punching a hole in your savings account. Furthermore, since restrictions have been lifted, people will take any opportunity they get to leave the country and go abroad for vacation. Thus, you can get cheaper RVs because there is little demand for them.
If you want the best prices to purchase an RV, wait for winter. Almost no one is buying RVs this season. Records show that RV sales are always low during the winter.
The best time to purchase an RV is between October and February. I’m suggesting this time frame because a lot of people will prefer to leave the country for vacations. Additionally, if you have a friend who wants to sell a used RV, I suggest you purchase it. Most people try to sell off stuff they do not need during this time to get money for a heartwarming vacation.
Buying a used RV is a textbook method for saving money. Used RVs usually cost a lot less than old ones because they are no longer new. And no one will ask for even close to the amount they paid for their RVs. Because most of them have gone down in value. RVs always depreciate over time. But I advise you to buy it from someone you trust. Additionally, make sure the papers are in place.
If you buy a used RV, you are certain it is in perfect condition because it has been properly maintained. I also advise that you take someone who is good with RVs to check out the RV you want to buy. Especially if you are new to all this. Sometimes, you might get lucky and find a used RV in perfect working condition. You just have to look carefully.
Conclusion: Are RV Prices Dropping?
With COVID and inflation, one cannot fully say the prices have dropped. However, it all depends on whether you want to get a used RV or a brand new one. In either case, always ensure that you come away with a great deal while buying your RV.
It is quite difficult to answer the question, “Are RV prices dropping” due to the factors discussed in this article, especially if you consider the pricing over time.
My name is Eddie, and I am an RV enthusiast! I have enjoyed traveling all my life, and want to give my family the same opportunities to see as much of the world as possible.
As I’ve gotten older, I’ve discovered how great RVs can be for vacations with a young family. Here at RV Lifestyle Experts, I want to share my experiences, the tips I’ve picked up along the way. I hope that our guides can encourage you to try the RV lifestyle. I promise you that you won’t regret it!
My name is Eddie, and I am an RV enthusiast! I have enjoyed traveling all my life, and want to give my family the same opportunities to see as much of the world as possible.
As I’ve gotten older, I’ve discovered how great RVs can be for vacations with a young family. Here at RV Lifestyle Experts, I want to share my experiences, the tips I’ve picked up along the way. I hope that our guides can encourage you to try the RV lifestyle. I promise you that you won’t regret it!
