The Future of RV Prices: Sky High or Down Low?
We’ve talked before about the steep rise in RV cost over the past two years. Both new and used RV prices remain high after increased demand and short supply pushed them up during the pandemic.
Some of you are surely wondering if, now that the pandemic appears to be waning, we might see those prices come back down to Earth. The honest answer is that the RV world doesn’t really know.
These are strange times we’re living in, and they are unsettling the RV market. Things we took for granted, like motorhome and trailer depreciation, have turned upside down.
We have been, and continue to be, in an RV seller’s market.
That’s not so great if you’re looking to buy a used RV, but what if you’re thinking about selling?
A Seller’s Market
If you’ve been looking to sell an RV, this is a great time to go for it. Browse through some classified RV ads on Facebook or ask around in your RV groups. Look at the prices for vehicles similar to the one you’d like to sell.
An important consideration when you decide to sell your RV is condition. Try to do an objective evaluation of the shape of your coach or trailer. This is hard, so don’t hesitate to reach out to a professional for help.
Even in this kind of a seller’s market, you want to get the best price possible for your used RV. If there are some small RV repairs to be done, do them. Take care of cosmetic issues that don’t cost a lot but improve the curb appeal of your rig.
If you’ve never sold a used RV before, ask around for some pointers. The RV community is a generous one, especially with their opinions and expertise! If you belong to a local RV group, see if you can find someone with experience to give you some advice on selling in your area.
They are buying everything.
Don’t worry that your RV is not the type people are buying. They’re buying everything. Class A and B motorhomes, travel trailers, and even sprinter vans are seeing far less depreciation than usual.
There are some hints that this seller’s market may begin to settle in the next year. If the pandemic does finally wind down, next season might find some of the recent RV buyers ready to sell.
COVID Cast-offs
As we’ve learned over the past two years, things can turn on a dime. But some folks out there are optimistic that those of you looking for a used RV are going to have better luck in the coming months.
They’re predicting that, if the pandemic wanes, we’ll start seeing the RVs people bought over the last couple of years come back on the market. Maybe people will decide that they want to go back to their pre-pandemic travel style. Maybe some will find that RV life isn’t really for them. Others may realize that they didn’t get as much use out of their RV as they hoped.
If you’re in the market for a used RV, keep your fingers crossed that those predictions come true. But don’t be surprised if prices for both new and used RVs remain high for the time being.
Manufacturers are still struggling with supply chain issues. Long waits for parts are common. They haven’t made up for production slowdowns and high demand is still stressing their production.
We’ve also learned not to count our chickens. People are unlikely to shed every pandemic purchase quite yet. And there are a few social trends that could keep RV demand higher than it was pre-pandemic.
Some people have switched permanently to working remotely. Since they’re no longer tied to an office, a percentage of those workers may well hit the road. These are the folks who bought an RV during the pandemic and are never going to give it up.
Once you become part of the RV community, it’s tough to go back!
For the upcoming RV season, indications are that high demand and short supply will keep prices high. If public health conditions continue to improve, we may see some downward movement in RV cost for the 2023 season.
Maintain, Maintain, Maintain!
Your best option right now, whether you want to make the most of the 2022 season or are thinking about selling an RV, is to scrupulously maintain your coach or trailer. We always advise people to make a maintenance schedule and stick to it, but now it’s more important than ever.
With parts still hard to get for some RV makes and models, you want to avoid every RV repair you can. You want your slide out motors, plumbing and electrical systems, and everything else to stay in good shape for as long as possible.
Basically, you want to get through the season unscathed by high parts prices or long wait times. Try adding an extra check-up or two to your schedule. It’s a relatively small price to pay to avoid missing entire vacations while you wait for a part.
If you’d like to sell an RV, make sure it’s in good condition so you get the best possible price. Have it checked for small issues that can be inexpensively fixed. Buyers will want to know about your maintenance history, roof integrity, electrical system, and more.
Be honest. RV cost is high enough that you can still attract buyers even if your vehicle needs some repairs. Talk to your local RV shop about which repairs are worth doing before you put your RV on the market.
Don’t give up hope of finding an affordable new or used RV. Even this unpredictable market will eventually settle and prices will come down. Take advantage of it as a seller while it lasts and maintain your current RV while you wait.
