This all should be good news for the RV industry for several reasons; the industry has enjoyed solid growth in past years, RVs are cheaper than a vacation home, RV travelers save on hotels, and are rather appealing to those who prefer comfortable and economical over fast paced and glitzy. RV family vacations can be as much as 70% less expensive than other types of vacations.
However, this does not seem to be the case. The RV industry is seeing some real trouble. The American consumer has been viewing recreational vehicles in the same light as other big ticket, gas guzzling items. In truth, RVs vary widely in cost. You can purchase anything from a folding camping trailer ($4,000 to $13,000 new) to a Class A motor home (from $60,000 to $500,000+ new). And there are always great deals to be found if you are interested in purchasing a used RV.
So the next concern is gas. Class A motor homes get about 6 to 12 miles per gallon, while smaller Type C vehicles can get as much as 15 to 18 mpg. Towable trailers, which typically cost much less than motor homes, can be hauled for usually about the same cost. If you consider the reduced cost of food- cooking in your RV with groceries you take along rather than eating out- and not renting hotel rooms, an RV can be a rather thrifty purchase! People who own RVs are still getting out and using them. They are just staying closer to home, usually within 200 miles or less. Also, RV rentals are up by about 18 percent. So it would seem that people are still very interested in RVing.
So, how do you go about finding a good deal on a RV? RV Finance can seem a bit daunting. However, even individuals on a limited budget should be able to find a good loan through an RV Finance company. According to the Recreational Vehicle Industry Association, RV sales are down about 14 percent nationwide for the year, but that should be good news for those looking to purchase because you have a better chance of negotiating a lower price.
It seems that the main factor keeping people from looking into RV finance right now is the availability of credit. Because of home foreclosures and loan defaults, credit standards have tightened across the board. But if you can sort through your credit report and work with a quality RV Finance company, it is still very likely that you can obtain RV finance with good rates and manageable terms.
So, what about resale? If you buy an RV now, will it be hard to sell in a few years if your needs or desires change? History shows that the RV industry has followed a cycle mirroring the overall economy. That means that the industry will likely see revival in the next few years, so people should be able to maintain value in their RV investment. Once again, the key is finding a good RV finance company and negotiating the best deal.
As I have searched for helpful information on this subject, I found that The RV Comparison Guide published by J R Consumer Resources was an extremely helpful tool. You can purchase this book and find other great information on the RV industry at www.jrconsumer.com.
Questions like the ones below are covered in our RV Comparison Guides:
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Which manufacturers are rated best? |
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What are the top selling brands in each category? |
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Should I buy a new or used RV? |
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How do I determine the overall quality of construction? |
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What is the depreciation factor when buying new? |
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How do I know if I am getting a good deal? |
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Should I trade in my old RV or sell it? |
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How do I select the right RV dealer for me? |
