Do you currently own an RV?
If your answer is yes, then like 10 million other Americans you need to be aware of the steep price depreciation associated with owning an RV.
It’s no secret that RVs don’t come cheap. They can cost anywhere between $10,000 and $500,000 depending on the model and type.
But if you aren’t careful, the total cost could end up being a lot higher through Price Depreciation. What this means is over time, your RV begins to lose value compared to when you first bought it.
Although price depreciation is common for almost any item you buy, the problem is that RVs depreciate at a much faster rate than other vehicles.
In fact, you lose up to 30% of its original value the moment you begin using the RV.
Luckily, there are a number of easy things you can do to slow down the RV price depreciation.
By the time you finish this article, you will know exactly what to do when buying and maintaining an RV. By following these suggestions, you will also see your RV depreciate at a much slower rate.
So let’s get started!
How to Slow Down RV Price Depreciation?
Whether you already own an RV or are considering buying one, below is some valuable advice on how to slow down its price depreciation.
After implementing these tips, you reduce any current and future costs as well as extend the life of your RV.
1. Don’t Buy at List Price
Do your research. Before buying an RV, make sure to check other dealerships and websites to check how much you should actually be paying. It’s common for RV sellers to set the listed price up to 30% higher than what it is worth. By negotiating and buying an RV at a realistic price, you have already taken a big step towards slowing down its price depreciation.
2. Don’t Let Your RV Stay Idle
Also known as “Lot Rot”, this happens when you don’t use your RV for extended periods of time. Now you might be thinking that RV price depreciation is directly linked to its usage. This is not entirely true. While mileage does play a small role, other factors such as engine troubles or non-usage actually contribute more. Letting your RV sit outside your