Buying your own RV isn’t an investment to take lightly. If you’ve thought about purchasing a Class A RV, you’re likely no stranger to sticker shock. (Just looking at the average cost of a brand-new Class A RV– $50k to $300k–could send even the sturdiest RV buyer into a spiral).
While you could opt for a more inexpensive class of RV, like a Class B, or even a teardrop trailer, you could also buy a used RV to save cash.
Buying an RV means making a slew of decisions: What type, size, and style of RV you want to buy? Do you want a new or used rig?
Unfortunately, these decisions aren’t always easy to make. There are advantages and disadvantages to either option, and it ultimately comes down to what works best for you and your budget.
The Pros of New RVs
Let’s start out by looking at the advantages of purchasing a new RV rather than a used one.
Pro #1: Warranty Coverage
One of the biggest advantages of buying a new RV is the manufacturer’s warranty that comes with it. The manufacturer’s warranty will cover damages and repairs that happen to your RV through everyday use. RV warranties vary from manufacturer to manufacturer, but they typically last for one to three years from when the RV was built, not three years from when you purchased it.
Pro #2: Latest Features and Technology
Another advantage of buying a new RV is that new rigs often have state-of-the-art features and technology.
- Updated designs
- Wireless blind spot detection
- Safety mobile apps
- Keyless entry
- Fireplaces
- Heated floors
- Residential refrigerators
- Washers and dryers
- Electric awnings
- Generators
- Outdoor entertainment centers
- Solar panels
Some of these features, such as solar panels and generators, are especially handy if you can’t always stay at RV parks during your travels.
Pro #3: Customization Options
When you buy a brand-new rig directly from the dealer, you may also have the option to customize your RV. Most RV dealers have basic floor models that you can then add and subtract things from, depending on your preferences.
When you buy a used RV, on the other hand, you’re stuck with whatever comes with it, unless you want to make renovations yourself.
Pro #4: Better Fuel Efficiency
Buying a new motorhome may also mean better fuel efficiency. Newer rigs come equipped with engine features that minimize fuel consumption–without compromising on power. Additionally, new travel trailers and fifth-wheel campers are being designed to minimize wind resistance and maximize fuel efficiency.
The Pros of Used RVs
While there are plenty of great reasons to buy a new RV, there are plenty of advantages to buying a used RV as well.
Pro #1: Lower Initial Cost
The biggest advantage of buying a used RV is that they’re more affordable than new ones.
New RVs can cost anywhere from $40,000 to $250,000, depending on the brand, size, and style, whereas used RVs typically cost between $7,500 and $100,000 on the high end.
The lower initial cost is the main reason why we decided to buy a used RV. We simply couldn’t afford the cost of a new rig, and we didn’t want to pay a monthly auto loan on top of paying for rent at a campground. Therefore, buying a used RV was a no-brainer for us, as it is for many other younger couples and individuals.
Pro #2: Slower Depreciation
While both new and used RVs will depreciate in value, used RVs generally depreciate slower from the time you purchase them. Depending on the type of rig you have, RVs depreciate in value anywhere from 35% to 38% within the first five years of construction.
In addition to their automatic depreciation, RVs also depreciate the more you use them. Therefore, if you plan to put a lot of miles, wear, and tear on your rig, you’re better off buying a used one if you hope to resell it one day.
It’s also worth noting that certain brands, such as Aliner, Newmar, Luxe, and others, retain their value better than other brands. If value retention is important to you, you should do some research on the best RV brands to purchase.
Pro #3: Broader Selection
In terms of selection, the used market for RVs has substantially more options than the new market, especially if you’re on a budget.
Whether you prefer going through a used RV trader or buying directly from a previous owner, you’ll have numerous options to choose from.
The Cons of New RVs
Now that you know the advantages of buying a new RV, let’s look at the disadvantages.
Con #1: Higher Initial Cost
The main reason that people opt for used RVs is because of how expensive new RVs can be. On average, you will pay nearly twice as much for a new RV as you would if you waited four to six years and bought that same rig.
For instance, a brand new Palomino Puma travel trailer, which is what our family has, costs around $35,000 to $40,000. In five years, that same travel trailer will cost from $20,000 to $25,000, if not less.
Con #2: Depreciation
Aside from the steep purchase price, depreciation is the biggest downside of buying a new RV. As we mentioned earlier, whether you buy a new or used RV, it will depreciate in value. However, a brand-new RV depreciates much faster than a used one.
In fact, a brand-new RV can lose 20% to 30% of its value the second you drive it off the lot after purchasing it. From there, they depreciate slowly and steadily every year.
While travel trailers and fifth-wheels depreciate more slowly than motorhomes, all types of RVs lose roughly half of their value after ten years.
The Cons of Used RVs
While used RVs are cheaper and suffer less depreciation, there are certainly a few cons to purchasing them.
Con #1: Maintenance Uncertainty
As with buying a used car, there are always potential issues and maintenance concerns when you buy a used RV. With tow-behind trailers, there may be an issue with the slide-outs, axles, stabilizers, appliances, tires, heating and electrical systems, and more.
With a used motorhome, you’ll need to be concerned about the condition of its motor, brakes, and other mechanical components. When you purchase a new rig, however, these components are brand new and are covered by the manufacturer’s warranty in case anything goes wrong.
Con #2: Limited Warranty
If you buy a used RV, there’s a good chance that the manufacturer’s warranty (intended to cover repair costs) has expired.
Therefore, your only option is to purchase an extended or limited warranty to cover damages to your rig. These types of warranties can be expensive and often aren’t as comprehensive as manufacturer warranties.
Con #3: Limited Customization
Finally, if you buy a used RV, you don’t have the option to customize or design it to your liking. Your only option in that regard is to do your own remodel, which can be as expensive as it is exhausting. There’s also a chance that once you start to dig into the inner workings of your RV, more problems will reveal themselves.
Buying a New or Used RV: Which Option is Right For Me?
Now that you know the pros and cons of new and used RVs, let’s look at how to make the right choice for your needs.
Set a Budget
If your list of priorities is anything like ours, your budget is at the top of your priority list. The last thing you want to do is spend so much money on an RV that you can’t afford to take your first RV trip until you replenish your savings.
In addition to the initial purchase price, you also need to think about potential repair costs and maintenance. Used RVs tend to have more of these costs than new ones, but it often isn’t enough to offset the steep initial price.
Determine Priorities
Once you know your budget, you can determine your other priorities. Here’s the list of priorities that we considered, from greatest to least:
- The Layout: When we purchased our RV, our family consisted of two people and a large dog. Therefore, we valued an open-floor concept with a large kitchen and living area. When shopping for a small family (3+ people), however, will likely need an extra bunk room for kids, which means sacrificing some kitchen and living area.
- The Size: If you plan to live in your RV, you’ll likely need a larger rig with plenty of space to stretch and grow. Smaller rigs, however, are better for weekend trips and occasional use.
- The Type: If you prefer to tow your rig, you’ll need a travel trailer or fifth wheel. If you’d prefer to drive your RV, you’ll need a motorhome or camper van.
Resale Value
Finally, because of how RVs depreciate in value, resale value is an important consideration. If you hope to resell your RV for close to the same price that you purchased it, a used RV is your best bet. If you plan to use your RV indefinitely and want all the bells and whistles, however, a new rig is the way to go.
Final Thoughts
RV shopping and choosing between a new, used, or vintage RV can be difficult. In addition to thinking about your budget and intended uses, you also need to consider safety, how many previous owners the rig had, and much more.
Once you have made your decision and purchased your RV, it’s important to protect your investment from theft, the elements, and natural wear and tear. Therefore, when you aren’t using it, consider using Neighbor to help you find reliable (and affordable) RV storage options near you. That way, your new-to-you RV is ready to roll when you are!
Frequently Asked Questions
Is It Smart to Buy a New Camper?
In the same way that it’s financially risky to buy a new car, buying a new camper is also a risky move in terms of financial return on your investment. However, while they’re a questionable financial investment, new RVs offer more peace of mind, amenities, and potential memories than used rigs.
Is This a Good Time to Buy a Used RV?
The best time to buy a used RV is during off months, immediately after the camping season is over. This is typically from the end of October to March, as the camping season will resume in April and May.
Is It Worth Buying an Older RV?
Because of how much cheaper older RVs are than new ones, it’s often worth buying them. There’s even a chance that you can remodel the rig and boost the resale value if you plan to sell it one day.
