When to Buy a New RV

Now is not the time to buy a new RV.

A shiny new RV can look tempting. Get in it, drive off, and leave all your problems behind you. The down payment is doable, and the payments are not bad (when you spread them over 20 years).

What's wrong with doing this?

There are several things--especially if you're buying your first RV. Let me explain.

Almost 2,000 RVs a month are being sold now. Even more, would be sold if they could make more. Manufacturers are cutting corners, raising prices, and are still months behind on delivery.

There are no bargains available on new RVs. Forget about finding a bargain on a new RV. You can't even find what I would consider a fair price, at least not compared to prices two years ago.

Two years from now, I think you will see prices back to a more reasonable level. Also, by next year I think you will be able to find great deals on slightly used RVs. Many people are rushing to buy new RVs, and a year from now, many of them will decide that the RV lifestyle is not for them. I expect to see the market flooded with nice used RVs.

I'm not saying that you have to wait a year or two before you can start enjoying the RV lifestyle. What you should do is buy a used RV. I would even suggest that you buy a very used RV. One that's priced way below what you can afford and not the RV you think you would want to keep long term.

Consider something in the $5,000 to $15,000 range. When you buy an RV in this price range, you can expect to have to replace the tires and probably have to do some other minor work on it before you hit the road. Consider this as part of the purchase price.

Two reasons your first RV should not be a new one

Within a year or two after buying their first RV, many (if not most) people want a different RV. There are two reasons for this.

First, they don't know much about RVs, so they are not likely to select an RV that's right for their needs.

Second, even if they did a ton of research and became an expert on RVs, they don't know much about how they will be RVing. Even if they know the kind of RVing they want to do, there's a good possibility that they will change their minds. I know people who said they didn't want to do any boondocking, and then after a year on the road, boondocking is all they want to do.

You should never buy a new RV as your first RV

Please take my word for it. Buy a cheap, used RV as your first RV. Hopefully, one that you can sell in a year or two and get most (if not all) of your money back.

After you've lived on the road for a while, you'll have a better idea about what kind of RV will be right for you. Then if you know exactly what kind of RV will be right for you, maybe you can consider buying a new RV.

Or even better, maybe in a year or two, you will be able to get an almost new RV at a bargain price. I think many people who are buying new RVs now will decide in a year or two that RVing is not right for them. It's not right for everybody. Maybe it's not right for you. It's better to find that out after you buy a $10,000 RV than after buying a new $100,000 RV.

New RVs depreciate fast--even faster than new cars. A used RV could actually increase in value, especially if you buy it at a bargain price, clean it up, and fix a few things.

Bottom line: How much fun you'll have with your RV will not depend on how much you spend when you purchase your RV. Consider it as your dog. Whether you have a high-price pedigree dog or a rescue dog, you will love him, and he will bring joy to your life just the same.