Should I Buy a New or Used RV?
From: Jeff Radich
Like all the
other decisions we have focused on and resolved up to this point – “towable or
motorized,” “what are the RV classes and which is best,” “what size RV should I
get,” “which floor plan suits my needs,” “which options do I really need,” and
“how to choose an RV manufacturer” – the “new or used” decision starts with you
asking yourself many of the same questions you asked with these other choices.
Let’s consider them now.
In Chapter 2, you
looked at your RV style to determine if you were a “day-tripper,” a
“vacationer,” or a “full-timer.” If you’re only going to use the RV for an
occasional fishing trip out in the wilderness, a used RV might be your best
choice. On the other hand, if you plan to be a “full-timer” or if you are a
“vacationer” planning to travel cross-country, a new RV with a full warranty
would be the way to go.
Another factor to
consider is how long you plan to keep the RV. If you buy an RV with the thought
that as soon as you get your next pay raise you will upgrade to a larger RV, it
would be best to consider buying used. RVs depreciate; they do not appreciate.
If you buy a new RV and trade or sell it within the first couple years, you
will lose a substantial amount of money. In many cases, a used RV has suffered
the brunt of the depreciation already, and you don’t stand to lose as much if
you get rid of it sooner.
Of course, all
the decisions you make about your RV are colored by your budget. However, the
“new or used” issue, more than any other, is the direct result of how much you
can afford to spend. It also carries definite monetary considerations down the
line, which you should weigh carefully before you buy. I will cover all these
important considerations in this chapter, so you can make the most informed
decision about your purchase and your money.
There are many
benefits to buying new. For starters, you are the first to sleep in the bed and
use the facilities, you have a full warranty from the manufacturer, and the
financing allows for lower percentages and longer terms.
To make it easier
to compare the two, I made two lists that outline the advantages of buying both
new and used. I will go over each list point-by–point, so you will understand
each advantage.
These are the
some of the primary advantages of buying new:
»
It’s brand spankin’ new.
»
You are in a better negotiating position when
you make a deal.
»
There are often special factory incentives for
buying new.
»
Better financing options are available.
»
Your unit comes with a full manufacturer’s
warranty.
»
You know what you are getting, thereby avoiding
buying a lemon.
While you pay
more for a new RV, you can save money with factory rebates, better interest
rates and financing terms, and reduced repair costs, should anything go wrong
while it is still under warranty. Because it is new, you don’t have to worry
about getting the proverbial lemon. And best of all, you are the very first one
to occupy and use your RV.
Now, we’ve
explored some of the advantages of buying new, and it sounds pretty good. But
before you rush out and buy that new RV, take into consideration the advantages
of buying used. There are many good reasons, especially if you are on a strict
budget or plan to sell your RV or upgrade in the near future.
The advantages to buying used are:
»
Money
»
Depreciation (Money)
Okay, it’s true –
all of the advantages of buying used are about saving money. Dollar for dollar,
you will get more RV for far less when you buy used. If you simply must have
that Class A Fleetwood, but just can’t swing the payments, a two- or
three-year-old model might fit your budget just fine. Instead of a brand new
24-foot Travel Trailer, the same investment could get you a recent model
36-foot Fifth Wheel with all the extras.
Jeff Radich is a
professional research writer and active RV enthusiast. |
