Buying an RV opens the door to exciting new adventures. It also comes with some important decisions. What size RV do you want? Where will you store it when you’re not using it? What features and amenities are needs, and which are wants? It’s important to plan ahead so you can find the RV that fits your lifestyle best.
Another major decision you will need to make before you get too far into the buying process is whether to buy a new vs. used RV. Just like purchasing any other vehicle, there are advantages and drawbacks to both options. Fortunately, many RV dealerships offer both new and pre-owned models in their inventory, so buyers have plenty of options all in one place.
So what factors should you consider when deciding between a new vs. used RV? The following guide breaks down some of the most important things to think about—cost, warranty coverage, customization potential, and depreciation and resale—to help you make an informed decision.
As you might expect, a new RV generally costs considerably more than a used RV. It’s not just the up-front costs; newer RVs often come with higher registration and insurance costs as well. To offset these costs, though, you might have an easier time getting financing with lower interest rates since it’s a new vehicle that should be reliable for years to come. You also shouldn’t have to worry about the costs of significant repairs or part replacements as soon with a new RV.
Many pre-owned RVs are very well-maintained and come with a much cheaper price tag than a new RV. No matter how well-maintained, though, keep in mind that you might have to repair or replace components sooner, especially if the RV has been used frequently or has a lot of mileage, which can result in unexpected costs. You will likely save on taxes, registration fees, and insurance premiums, but you may sacrifice some long-term reliability.
Ask About the Warranty Coverage
A new RV typically comes with a full manufacturer’s warranty, which covers a range of issues and is usually good for one to three years. In addition, some RV dealers might offer certain complimentary or discounted maintenance and repair services for the first year. Many RV owners value the peace of mind that comes with this type of warranty coverage and knowing there will be fewer surprises with a new RV. However, once the warranty expires, owners are financially responsible for all repairs.
Although the manufacturer’s warranty on most used RVs will have already expired, you might find one (especially if it is a certified pre-owned model) that has some warranty remaining or that has an extended warranty. However, if warranty coverage is especially important to you, a new RV would likely be a better choice.
What’s the Potential for Customization?
What features and amenities are you looking for? Gourmet kitchens, eco-friendly appliances, integration of smart technology features, and built-in office space are some of the trending features that RV owners are looking for these days. When you purchase a new RV, you have the chance to customize the layout, features, and amenities to fit your needs, preferences, and travel lifestyle. In some cases, you even get to pick the interior finishes, colors, and fabrics. Of course, customization can add up and might also mean you have to wait longer until your RV is ready.
Although you might not have as much potential for customization with a used RV, you’ll still be able to consider some changes to add your own personal touch, like replacing furniture or appliances, adding new window treatments, and so on, and you will have the luxury of time to make gradual changes on your schedule and budget.
With either a new or used RV, keep in mind that major modifications and customizations can be costly and time-consuming and can also sometimes affect the RV’s resale value if they are too niche.
Research Depreciation and Resale Value
Just like a new car, new RVs lose value quickly in the first few years. In fact, a new RV will depreciate by around 20 percent in the first year. If you plan to use the RV for years to come, however, the benefits of getting a brand-new vehicle with the latest features and customized amenities will likely outweigh the issues with depreciation. On the other hand, if you plan to sell or trade in the RV after only a year or two of use, the significant depreciation means you’ll get a lower return on your investment.
Used RVs hold their value better over time since they’ve already experienced the bulk of their depreciation in the first few years. So, if you’re looking at the RV purchase as an investment and only plan to use it for a relatively short time, it makes more sense to buy an older, used model that’s been well maintained.
Taking all the above into consideration, should you buy a new vs. used RV?
A new RV may be best for you if you:
● Want the most reliable RV option with fewer risks of surprise repairs
● Prefer the peace of mind that comes with manufacturer’s warranty coverage
● Value the opportunity to choose the latest features and amenities and customize your RV to meet your specific needs and wants
● Have the luxury of time to wait if your chosen model is not in stock or if customization takes a while
● Plan to use the RV over the course of several years
A used RV may be best for you if you:
● Are on a tighter budget
● Don’t mind making smaller changes to personalize your RV over time
● Plan to sell or trade in the RV in a few years
● Need an RV sooner rather than later
● Want a larger or more luxurious RV that you might not be able to afford new
Whether you buy new or used, finding a reputable RV dealer, such asAlbany RV in Oregon, is the first step. Many dealers have both new and used RVs in stock, offer financing options, and have maintenance and repair services on-site. Stop by your local RV dealer to check out your options and get started on the journey of a lifetime in an RV today.
