Inflation Is Here: Should You Sell Your RV?
Market conditions will impact RV sales, but the best time to sell your RV is when you’re done using your RV, not when the market is perfect. Waiting will only cost you money.
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When Is The Best Time To Sell Your RV?
You may be asking yourself, “How have the recent changes in US economics impacted the RV industry?” With inflation and gas prices climbing to unprecedented levels, and interest rates repeatedly being raised by the Fed, should you wait on buying or selling an RV?
The simple answer to the question, “Should I sell my RV now?” is yes. Even with all the recent upheaval in the US economy, there is still a huge interest in RVing, and most people think inflation and rising gas prices are a short-term phenomenon.
Why now is the best time to sell your RV
RV buyers are still eagerly shopping for RVs, which is the most important factor when considering selling an RV. Even though summer is ending, hundreds (if not thousands) of people are ready to trade their snow shovel for an RV and head for the Sun Belt, regardless of what’s going on in the economy.
Even buyers who need to finance their purchase with higher interest rate loans know they’ll have an opportunity to refinance later when interest rates fall. All the big name RV lenders are still eager to finance RV purchases, so money is available.
Additionally, many of today’s RV buyers were able to cash out of their homes when the real estate market was at its apex. Some of these people are now cash RV buyers who are unaffected by the changing interest rates.
Current RV buying continues to span the entire breadth of RV types, from high-end luxury RVs (straight from the factory) to all types of ready-to-use, previously owned RVs and DIY RV projects.
All types of used RVs are selling in the peer-to-peer market today—everything from high-end Class A RVs to do-it-yourself fixer uppers.
It’s a seller’s market
All these factors continue to sustain the RV seller’s market. Even the recent increase in gas prices has not been a significant deterrent.
Obviously, motorhomes and vehicles towing an RV use more gas than passenger cars, so gas price increases do impact the RVing community, but many RVers are adjusting to the higher prices by shortening the distance they intend to travel, staying longer in one location, and economizing on gas expenditures through more conservative RV trip planning.
And the increase in fuel costs is felt across the board. Passenger cars, public transportation, air travel, and cruise liners are all impacted by these rising costs, so it doesn’t really matter how people choose to recreate; everyone feels the impact of increased fuel costs.
RV inventory is catching up with demand
Over the past few years, the RV industry became super charged by the pandemic and inventory levels fell to record lows. Now, there are signs that the industry is settling back to pre-pandemic levels and inventory levels are starting to catch up with demand.
This stabilization is good for the industry and the RV community because it lowers frustration and signals to buyers that they will be able to find what they are looking for when they’re ready to buy an RV.
There’s a perfect RV for every buyer, but it may take a little time to find the perfect fit at the right price. Be sure to check the used market first, at National Vehicle.
Interest in RVing remains high
Even with it settling back to pre-pandemic levels, interest in RVing continues at a remarkably high level, as indicated by the 50,000 people who attended the 2022 Hershey RV Show and two recent surveys that measured people’s enthusiasm for outdoor activities and camping.
One study conducted by Winnebago revealed that 81% of Americans planned and participated in outdoor recreation during the summer of 2022. Another study by Kampgrounds of America (KOA) revealed that 25 million Americans went camping over the 2022 Labor Day Weekend.
So, even with stabilizing RV inventory, higher interest rates, increased gas prices, and inflation impacting the US economy, it continues to be a seller’s market for RV owners. Some of these economic pressures are helping private RV sellers because more RV buyers are looking for good deals on used RVs, who might otherwise have considered a new RV.
Delaying a sale diminishes an RV’s value
Additionally, sellers should be aware that delaying the sale of their used RV will cost them through depreciation. In a few months when the calendar flips over from 2022 to 2023, everyone’s RV will be another year older, and this directly impacts the value of every RV.
It will also push some RVs over the age threshold for financing (generally 10 years old), which makes it much harder to sell luxury and high-end used RVs. For anyone thinking of selling their RV, the approaching end of the year should create a sense of urgency to get their RVs into the marketplace regardless of its age.
Furthermore, the most lucrative place to sell an RV, by far, is in the private marketplace, not as a trade-in at a dealership. So, even if the seller intends to upgrade to a newer RV, selling their current RV to a private party will still be more profitable than using it as a trade-in.
Get help selling to a private buyer
When considering all these factors, there is no better time to sell an RV than now, and no better place than in the private marketplace.
Additionally, you don’t have to navigate the peer-to-peer market by yourself. There are professionals who will get you started with a Free (no obligation) Valuation. Then if you decide to sell your RV, for a nominal fee, they’ll create and publish ads for your RV, so that it is discoverable in the most popular online publications all across the US and Canada.
The professionals at National Vehicle help thousands of RV sellers every year safely and successfully navigate their way through the private RV sales process. They are experts at helping sellers maximize profits and expedite the sale. They help sellers prepare their RV to maximize profit, provide insightful tips to make the process understandable, and they help buyers obtain financing and RV inspections, when needed.
Sell your RV today
Don’t let negative economic data dissuade you from selling your RV right now. There are thousands of shoppers looking for a used RV just like yours. Contact National Vehicle to get started with a Free Valuation so you know how much your RV is worth and what you can reasonably expect to gain by selling it in today’s robust seller’s market.
Related articles:
- Avoid The Rush, The Time To Buy Or Sell Your Motorhome Is NOW!
- Know Your RV’s Value: Check The RV Blue Book
The post Inflation Is Here: Should You Sell Your RV? appeared first on RV LIFE.
