Thursday, December 8, 2022

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Do you believe the prices of used RVs will drop in 2023?

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RV sales have gone through the roof since the pandemic began. Anyone with a sense of wanderlust or cabin fever from staying at home day after day, was soon tempted to buy an RV and travel safely. And many did — 600,000 people a year, or close to that for a few years in a row.

But now, with the fear of nasty COVID-19 beginning to fade, so are many of those folks’ ideas that travel by RV is the only way to go. Suddenly, RV dealers’ lots are not only filled with new inventory as sales of new-models slow, but with used vehicles as well, as some recent buyers learn that maybe RVing wasn’t really their thing. “They ask if we can sell their RV on consignment,” one Seattle area dealer told us.

Some dealers are starting to discount new vehicles again.

So, what’s ahead? Nobody seems to be talking much about this yet. But we’re curious: What do you think? Do you envision the supply of used vehicles going up, which, of course, means that prices will go down (supply and demand, you know…)?

What do you think? And please leave a comment.

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Jeff
6 days ago

Three years ago (before Covid) I had considered buying a one owner (race car driver) coach garaged since new immaculate Tiffan Phaeton Diesel Pusher, with all service records, new tires & batteries, 60k miles for Low NADA at that time, and without one flaw. It sold for $69k which was Low NADA at that time. One year ago that same coach would have been advertised for DOUBLE that price. We have seen this type of market craziness in the past, and when it happened before, the bubble eventually popped to where that same coach today should have further depreciated after 3 years, NOT appreciated! I also watched my home double in value in the last 8 years, and I cannot believe that this bubble is sustainable. We have seen this several times in the past, and I strongly believe that the bubble is now about to pop again in all values!

Lyle
21 days ago

I’m concerned about the people that purchased overpriced units and have rented seasonal sites. Most of these campgrounds are providing the financing for the trailers and locking these people in to high seasonal fees. With an increase in mortgage rates for their homes, the monthly trailer payment plus a seasonal fee of $4-5,000.00 their finances will be severely stressed. Most seasonal campgrounds have been increasing their fees far too aggressively as well changing the rules from year to year. At least the towable units can be used less if finances are tight or perhaps sold at a minimal loss. The seasonal units are too large to tow and the owners are stuck with continuing to pay the yearly fees and related costs.

Kevin Underwood
2 months ago

Someone said they are not worried about a recession? NEWSFLASH! We are already in one. Patience and you will get a deal of a decade or two. Wait until winter and if you can till the 3rd quarter of next year to get your new or new to you RV. Inventory is at pre-covid levels and prices have dropped nearly 25%. Inventory time has doubled and dealers are at a point where lots are full and a large number of 2022 models are still on lots. I feel bad for the folks that paid full (5% +/-) MSRP for their rigs or more, they are already underwater unless you paid cash. Just look at RV Trader at the prices folks are trying to get for 21/22 year models it sad, they won’t get what they are looking for in this market and won’t for some time to come, if at all. Patience is king in this market. Wait for the bottom! Folks are hurting and toys and unnecessary items are being shed at light speed.

Stan
2 months ago

The upcoming impacts of the stock market could make your camper very valuable. Depending upon how bad it gets, there may be millions of people forced into foreclosure on their homes. If they get kicked out of their home and there is already a low level of apartments and rentals, those people may be looking to buy a 4 season camper that they can live in till the economy recovers. “food for thought”

David
27 days ago
Reply to  Stan

how exactly is someone going to afford to buy an RV if they can’t afford their mortgage payment? Who is going to loan them the money with a recent foreclosure? And if they do get a loan, what is that interest rate going to be? I don’t follow the logic here.

Steven N
3 months ago

While I do believe there will be a bunch of used “COVID” campers hitting the market soon I don’t believe they will be at a reduced price. I submit that the people that purchased them owe too much on them and are severely up side down, this will not allow them to sell them at a reduced price.

Kevin Underwood
2 months ago
Reply to  Steven N

Yep! Sad…

David
27 days ago
Reply to  Steven N

So, they just have to keep them as they continue to depreciate?

Richard Molloy
3 months ago

I believe inflation, higher interest rates, fluctuations in fuels prices, and new laws on emissions as well as ecological issues, will influence and reduce the used and new rv market, causing a decline in prices.

Neal Davis
3 months ago

I do think that a lot of people who bought RVs in 2020 and 2021 are finding that it isn’t as good for them as they hoped. However, I don’t know how quickly they are going to sell their RV. So, I chose the more conservative answer that prices will fall some. We just bought a 2022 MH about 6 weeks ago, so I am not monitoring prices as much now as I was recently.

Gordon
3 months ago

Supply and Demand are always at work. As the supply grows prices will fall. Many people find out that the costs and lifestyle are not for them. All those expensively purchased units will come to market soon.

Kevin Underwood
2 months ago
Reply to  Gordon

Or be repossessed and sold off

Roy Davis
3 months ago

I think there are multiple variables that can effect this, being fuel prices, inflation, and even those who bought during the pandemic and discovered that they hated camping. I believe they will drop dramatically because of the overwhelming numbers of RVs for sale. This will be most dramatic in the motorized RV market and less in towables.

Spike
3 months ago

I voted for yes, but not dramatically.

Rising interest rates and inflation continuing at very high historical levels will have an impact on sales. In addition, Fed Chair Jerome Powell clearly pointed to needing to slow business activity, meaning layoffs, to combat inflation. People will be losing jobs. Jerome didn’t think too many jobs, but then he’s the one that thought inflation would be “transitory” and continued the free money binge for way too long.

I think towables will drop the most with less than normal depreciation on motorized. I see dealer lots jammed with towables…not so much for motorized. With new motorized prices nothing short of obscene, it will help limit drops on used.

Then again, the economy could go into full recession and then we’ll have more to worry about than RV prices.

Jeff Craig
3 months ago

While I’m not worried about a recession, I do see prices dropping more than ‘normal’, but mainly because the demand for RVs will slip from pandemic highs. Fuel prices, supply chain issues, limited maintenance capacity, build quality, higher interest rates and a coming ‘glut’ of ‘lightly used’ recent purchases will drop prices around 20% below pre-pandemic prices.

Brian Olson
3 months ago

Our 2021 Montana was 37k less than a 2022 exact same model. Plus the rise in interest rates is putting pressure to sell inventory.

Skip
3 months ago

I believe the prices will tumble as the recession moves in and many financial institutions will be holding many titles and having many repossessions and they will be trying to recoup some money on bad investments. It will be the same in the housing market soon as well. The next 3-5 years will be rough for most.

Last edited 3 months ago by RV Staff
Skip
3 months ago
Reply to  Skip

Thanks Diane for catching my incomplete reply the brain engaged somewhere else in thought.

Admin
RV Staff(@rvstaff)
3 months ago
Reply to  Skip

You’re welcome, Skip. “Brain engaged somewhere else in thought” sounds like when I missed the typo about Edison’s invention of the Stencil-Pen in 1967. I totally skipped over the number because I was focused on the name of the invention. Ugh! I hate it when I miss a typo! (I think my 75-year-old brain is getting tired. 😯 ) Take care. 😀 -Diane

Noble
3 months ago

I course they will, since I just bought a new truck camper at a premium price!

RallyAce
3 months ago

I fully expect to see the market for bank sale units rise in the near future as folks negotiate a way out of their loans. Banks prefer to arrange a sale over repossessing and auctioning as they have more control and can recoup more of their money.

Stacey Wallace
3 months ago

I think just like the pets that people are returning to shelters, they will also be getting rid of that rv that wasn’t quite what they imagined.

Joe Allen
3 months ago

With all the costs rising, RV’s will continue to sell for a fair price no matter what. People are tired of getting into a new RV only to end up with more time at a dealership for repairs than their destinations. High end RV’s will hold their values with new ones over the one million dollar mark. As more find out about the quality of these older RV’s the more interest in them increases the sales! I am speaking about Newell’s, Foretravels and Prevost.

Lenny
3 months ago

With the government getting involved with everyday life I think people will have to stop buying. Starting with inflation, the worries of a economic collapse, gas prices and now pushing electric vehicles. Who in their right mind would want to risk spending unless you are a government official.

Bill
3 months ago
Reply to  Lenny

Give us the keys and call a cab, Lenny

Jeff Craig
3 months ago
Reply to  Lenny

Lenny, seriously, turn off OAN.

KellyR
3 months ago
Reply to  Lenny

“Who in their right mind would want to risk spending unless you are a government official”
Answer: Most Americans.

Paul Beran
3 months ago
Reply to  Lenny

Government officials? You mean public servants or elected officials? You have a completely uninformed perspective about who has money
PB

Stitz
3 months ago

I was offered twice what I paid for my 2018 travel trailer. I told them the price wasn’t enough for me to wait on another trailer to be constructed. The prices, I believe will go down by 50% once people stop buying.

McTroy
3 months ago

I am sure the value of my 7 year old TT will drop dramatically as newer used units hit the market. Guess we will keep what we have. Glad we still like it.