What to know for your next RV Show
As the world begins to return to “normal” one thing we will soon see return is the RV show. It’s no secret by now that the RV industry is booming. More and more people are purchasing RVs than ever before and choosing the ultimate social distancing getaway by heading out camping. Once the RV shows begin to return there will be many new changes. These are just a few of the things you’ll need to know whether you are just browsing or if you plan on purchasing.
Manufacturers are trying their best to keep up with demand - previously, it was the norm to purchase a new RV at a show and then swing by the dealership the following week to pick it up. That won’t be the case as often, moving forward. You will most likely be waiting a while for your new RV to be ready for pickup. In many cases, you could be ordering it to be built instead of picking from current dealer inventory. Some estimates say you might be waiting as long as 6 months!
Expect high prices - this isn’t just due to supply and demand, but more so because of the higher expense to build right now. The air conditioner, appliance, and solar manufacturers can’t keep up with the demand and have needed to raise their prices. Raw materials have skyrocketed in cost for builders of all industries. And consumer feedback is pushing the manufacturers to design new and different RV options, creating higher costs to design and produce new ideas. Unfortunately, it all adds up and it all gets pushed onto the consumer.
Expect more for your trade - definitely a bright side for current RV owners. Your trade-in is highly valued right now which means it’s a great time to step into a new rig with lower depreciation rates than ever before.
Finance, finance, finance - 70% of RV purchases are financed. Your average RV loan is 12 years and just a little higher interest rate than a car loan. Financing is expected to be in even higher demand with the rising cost of RVs as well. Before you head out to a show it’s a great idea to know where you stand financially and if you are a good candidate for credit approval. Recent events like mortgage forbearance or late payments (no matter the reason) can affect your ability to get an RV loan. You will also need to know what you can afford for your down payment. This is typically 10% of the purchase price of your new rig.
Know your budget - it happens to the best of us, you walk into the RV show saying “I will find something for $20,000. That's it, my mind is made up.” Then you see that for only $25,000 you can get some really nice upgrades. And if you're already spending $25,000 you might as well treat yourself to the features of the $32,000 trailer. And before you know it you're standing in front of a $40,000 trailer that glows like the house from Christmas Vacation as you're shaking the hand of the salesman! Be careful.
You will see more models and floorplans than ever before - I know many people are excited about the big changes to the RV market. We are! The days of seeing the same 10-12 similar layouts are soon to be something of the past. RV manufacturers are listening and changing the game. Finally giving you what you want. Not to mention the huge breakaway from the traditional brown and tan color palettes! Maybe we could soon see something else instead of swooshes and swoops on the outside? Who knows!
You have options - whether you’re looking for a teardrop or a $500,000 class A, you have every option available at an RV show. If you want two leather couches, three TVs, two bathrooms, a kitchen that might be bigger than the one in my house, and a full-sized king bed, it is waiting for you. Or perhaps you rather have a truck camper for $20,000 with a nice-sized bed, a decent kitchen, and a design scheme that is wonderfully functional? The best part is that in the end, you will see all of these and everything in between sitting in a campground at the Grand Canyon and everyone will be enjoying themselves because they're just living their own RV dream.
Full-timers are king - did you know over 1,000,000 Americans are full-time RVers? With more and more following into the same lifestyle every day. It’s no wonder the RV industry is currently catering to this type of RVer. You will find more and more full-time warrantied RVs on the market than ever before. Plus, the addition of more amenities like workspaces, more washer and dryer options, and residential refrigerators becoming standard purchasing. However, if you’re just a weekend warrior there’s no need to fret, these are enjoyable upgrades for all of us.
Buying an RV is a lot like purchasing a house - you need to know what you want/need. And if you happen to be a first-time RV buyer this can be even harder than you could imagine. Do you need a bunkhouse? One bathroom or two? Dinette or stand-alone table? Would you rather have a bigger inside kitchen or do you see yourself using your outdoor kitchen more? These are all questions that you might not know right now. If you’re feeling overwhelmed I highly suggest heading to YouTube for a little more research. There are several great channels out there now devoted to RV walkthroughs with lots of great information. Our favorites are Big Truck Big RV and Haylett RV (note: Haylett is a dealership, however, Josh does a tremendous job of helping you understand the pros and cons of different RVs and different layouts. However, the manufacturers they fearure will be limited, obviously.) Now, is the perfect time to start making a wants and needs checklist if you’ll be purchasing an RV anytime soon.
Know your tow vehicle - there is a tremendous amount of bad information on the internet about towing capability of any vehicle. I would highly encourage you to learn more about the payload, GVWR, and towing capacity of your tow vehicle PRIOR to purchasing a new RV. Hands down, this is the best information to help you pick an RV safely. At the end of the day, the safety of your family is far more important than purchasing an RV that is too much to handle.
Have Fun! RV shows can be overwhelming, but when you slow down and enjoy yourself you’re sure to have a lot more fun!
Tell us what is your favorite part of an RV Show? What surprising things did you learn the last time you attended one?
