According to recent Allied Market Research, the worldwide market for recreational vehicles had a value of $57.3 billion in the year 2021. It is anticipated to achieve a market valuation of $117 billion by 2031. So it’s pretty clear more people are seeing the value in having a home on wheels!
Are you dreaming of the open road and looking to purchase a recreational vehicle (RV)? Whether you’re a seasoned traveler or new to the RV lifestyle, deciding between a new or used RV can be a daunting task.
With so many options and factors to consider, it’s important to weigh the pros and cons of each option before making your final decision. In this article, we’ll explore the differences between new and used RVs and help you decide which one is right for you.
Types of Recreational Vehicles
Before we dive into the new vs. used debate, let’s take a moment to explore the types of RVs available. There are three main types of RVs: class A, class B, and class C.
Class A RVs are the largest and most luxurious, with amenities such as full-size kitchens and multiple bedrooms. Class B RVs are the smallest and most nimble, often built on a van chassis and designed for easy maneuverability. Class C RVs are a happy medium between the two, with a distinctive cab-over section that provides extra sleeping space.
New Recreational Vehicles
Purchasing a new recreational vehicle has many advantages. For one, you’ll be the first owner of the RV, meaning it will be in pristine condition with no wear and tear.
Plus, new RVs often come with a warranty, which can provide peace of mind in case of any issues that may arise. Another advantage of buying new is that you’ll have the ability to customize the RV to your exact specifications, from the paint color to the layout.
However, buying new also comes with a higher price tag. New RVs might cost anywhere from $50,000 to over $1 million, depending on the size and level of luxury.
Furthermore, new RVs often depreciate quickly, meaning you’ll lose value on your investment as soon as you drive it off the lot. So try to consider your budget and how much you’re willing to spend before deciding to buy new.
Used Recreational Vehicles
If you’re looking to save money, a used recreational vehicle may be the way to go. Used RVs can cost significantly less than their new counterparts, with some models available for under $10,000.
Also, used RVs have already gone through their initial depreciation period, meaning you won’t lose as much value if you decide to sell yours in the future.
Yet, buying used does come with some risks. Used RVs may have hidden issues that aren’t immediately apparent, such as leaks or mechanical problems.
You should thoroughly inspect any used RV before making a purchase, or even better, have a professional inspection done. As well, used RVs may not have all the latest features and amenities that newer models do, which may not be a deal-breaker for some buyers but may be a downside for others.
Class C RVs
Class C RVs are a popular choice for many travelers due to their versatility and affordability. Class C RVs offer more space and amenities than class B RVs, but are easier to maneuver and park than class A RVs.
When deciding between a new or used class C RV, many of the same factors come into play. If you’re looking for the latest features and amenities, a new class C RV may be the way to go.
However, if you’re looking to save money, a used class C RV can be a great option as well. Thus, it makes sense to do your research and weigh the pros and cons of each option before making your final decision.
Considerations When Inspecting a Used RV
When inspecting a used RV, there are several things to keep in mind to ensure that you’re making a wise investment. One crucial thing to look for is signs of water damage.
They can include soft spots on the floor, bubbling or peeling wallpaper, and musty odors. Water damage can be a serious problem in RVs, so it’s important to thoroughly inspect the roof, windows, and other areas where leaks may occur.
You should also check the tires carefully for wear and tear, as well as the date of manufacture. RV tires have a shelf life of around six years, so if the tires are older than that, they may need to be replaced soon. In addition, you should inspect the plumbing and electrical systems, checking for any leaks, corrosion, or other issues that may require repairs.
A final solid tip is to take the RV for a test drive if possible to get a feel for how it handles on the road. Make sure all the systems are working properly, including the air conditioning, heating, and appliances.
Tips for Financing a Recreational Vehicle
Financing an RV can be more complex than financing a car, as the loan amounts are typically larger and the terms may be less favorable. But, there are several strategies you can use to secure the best financing options for your needs.
First, it’s important to shop around for loans from different lenders, including banks, credit unions, and online lenders. Compare interest rates, loan terms, and fees to find the best deal.
Next, consider making a larger down payment if possible. This can help lower your monthly payments and reduce the overall cost of the loan.
Finally, be prepared to negotiate with lenders to get the best terms possible. If you have a good credit score and a solid financial history, you may be able to secure a lower interest rate or better loan terms by demonstrating your creditworthiness.
Popular RV Trip Locations in America
One of the best things about owning an RV is the freedom to travel wherever you want, whenever you want. Whether you’re looking for scenic mountain vistas, sandy beaches, or bustling cities, there’s an RV trip for every taste and budget. Here are just a few ideas to get you started:
If you’re an outdoor enthusiast, a National Parks tour is a must-do. America is home to some of the most stunning national parks in the world, from the Grand Canyon to Yellowstone to Acadia. Take a road trip and explore the natural wonders of the country, camping in RV-friendly campgrounds along the way.
For those who prefer a beach vacation, the East Coast has plenty of beautiful beaches to choose from. From the bustling boardwalks of Myrtle Beach to the laid-back charm of Cape Cod, there’s a beach for every taste.
Classic Road Trips
Maybe you’re after a classic American road trip experience? If so, consider driving Route 66. Follow in the footsteps of generations of travelers and drive the legendary route from Chicago to Santa Monica, soaking up the history, culture, and scenery along the way.
For a taste of the Wild West, head to the Rocky Mountains. Colorado, Wyoming, and Montana offer some of the most breathtaking mountain scenery in the country, as well as plenty of opportunities for hiking, biking, and fishing.
Or if you’re a city slicker at heart, consider an urban RV trip. From the bright lights of Las Vegas to the charm of New Orleans to the sophistication of New York City, there’s a city to suit every taste. Just be sure to plan ahead for RV-friendly parking and accommodations.
Living in an RV
For some people, living in an RV full-time is an attractive and affordable option. While it can be a great way to travel and explore the country, be aware of the realities of living in a small space daily.
First and foremost, you’ll need to choose an RV that’s suited to your needs. Class C RVs are a popular choice for full-time living, as they offer a good balance of size, comfort, and affordability. However, there are many other types of RVs to choose from, depending on your preferences and budget.
Once you have your RV, you’ll need to get used to living in a much smaller space than you’re probably used to. This means that you’ll need to be very intentional about what you bring with you and how you organize your space. It’s also a good idea to have a plan for where you’ll store everything, as storage space is limited.
Another important consideration is your daily routine. Living in an RV means that you’ll have to be more mindful of your water and electricity usage, as well as your overall energy consumption. You’ll also need to be comfortable using public restrooms and showers, as many RVs have limited bathroom facilities.
Embrace RV Life
Getting a recreational vehicle can be a life changer for many people! It can open up so many new doors and allows you to see America or even further afield in a whole new light!
Whether you choose used or new, one thing’s for sure is that you’ll be able to embrace RV life! For our latest articles, click on the site logo.