It is not possible to predict with certainty what will happen to RV prices in 2023. Many factors can affect the price of RVs, such as supply and demand, economic conditions, consumer confidence, and overall market trends. That said, most RV industry experts expect that prices of new RVs will continue to rise in 2023, in part because of inflation. Resale values of used RVs dropped significantly in late 2022, so now might be a good time to buy “used” rather than “new.”
Sales of recreational vehicles have been growing in recent years, with volume increasing steadily, reaching all-time records of more than a half-million units shipped to dealers in 2021.
Ultimately, the direction of RV prices in 2023 will depend on a wide range of variables that are difficult to predict. It is always a good idea to do your own research and consider all of the factors that may affect RV prices before making a purchasing decision.
Will I get a better deal on a new RV by paying cash instead of financing it?
It is possible, but definitely not a sure thing, that you may be able to get a better deal on a new RV by paying cash instead of financing it. However, this will depend on the specific dealership and the terms of the sale.
Some dealerships may be more willing to negotiate on price or offer additional incentives if you are paying cash, as they will not have to worry about financing the sale. Additionally, paying cash will save you money on financing charges that you would have to pay if you financed the vehicle. Of course, plopping down all that money on an RV, a depreciating asset, means you can’t invest that same money where it will grow in value.
Some dealers don’t want buyers to pay with cash. They much prefer to finance an RV, and make all the extra money from interest. Some dealers, in fact, will offer you a better price if you finance the RV.
Paying cash for a new RV may not always be the best option. If you do not have enough cash on hand to pay for the RV outright, you may have to finance the purchase or consider other options. Financing can allow you to spread the cost of the RV over time, which may make it more affordable for you. Be sure to carefully consider your financial situation and options before making a decision about how to pay for an RV. Avoid financing an RV for 15 or 20 years, which some dealers promote these days. You will almost certainly be upside down on the loan for years, meaning that if you choose to sell it you will need to come up with extra money over the sales proceeds to pay off the loan.
Is it wise to buy a used RV to save money?
Buying a used RV can be a good way to save money, as used RVs often cost less than new ones and a good chunk of the depreciation is over. However, it is important to carefully consider the pros and cons of buying a used RV before making a decision.
One of the main benefits of buying a used RV is that you can often get a lot of value for your money. Used RVs that have been well-maintained can be just as reliable as new ones, and they can offer many of the same features and amenities. In addition, buying a used RV can allow you to afford a model or brand that might be out of your price range if you were to buy it new.
On the other hand, buying a used RV can also come with some risks. Used RVs may have more wear and tear than new ones, and they may require more maintenance or repairs. In addition, it can be more difficult to determine the quality of a used RV, as you may not have the same level of information about its history as you would with a new RV. In all cases, when buying a used RV, have it inspected by a professional RV technician. They can spot problems that most of us would not even notice.
It is important to do your research and be thorough when considering a used RV. It can be helpful to get a professional inspection to help identify any potential issues, and to negotiate a fair price based on the condition of the RV. With careful consideration and due diligence, buying a used RV can be a great way to save money and get a high-quality vehicle.
But returning to the original point of this article whether RV prices will go up and down this year … the answer is simple: it depends. So good luck.