RV depreciation is no joke. Many would even go so far as to tell you that RVs are a terrible investment. We couldn’t disagree more. While RVs may not be a good investment financially speaking, we’re of the opinion that money isn’t the only thing that matters in life, and as far as we’re concerned, the memories made in our RVs are 100% worth every penny.
Still, it would be nice to avoid RV depreciation as much as possible. Fortunately, there are ways to reduce the amount of depreciation you see as an RV owner. Here are our top tips for doing that.
Pay Cash
So technically, this first tip won’t reduce depreciation per se, but skipping the loan (and the interest that comes with it) will at least reduce the total amount you end up paying for the rig. This helps offset depreciation by making it possible to sell for closer to what you paid. We think this is a win, and therefore it deserves a place on this list.
Buy Used
Just like cars, new RVs see an enormous amount of depreciation as soon as they’re driven away from the dealership. You can avoid this huge and immediate loss of value by doing one simple thing: buying used.
This doesn’t mean you have to buy a super old and beat-up rig. Even buying a trailer or motorhome that is a mere two years old will reduce the amount of depreciation you see over time.
Choose a Class C
Wondering which type of RV holds its value best? That would be the class C motorhome. Therefore, if you’re hoping to reduce depreciation slightly, you might go with a class C.
That said, class A and class B motorhomes aren’t actually far behind class C in terms of how well they hold value. The RV type that sees the fastest and most severe depreciation though? Fifth wheel trailers.
…or Pick an Older Travel Trailer
This is a funny one that we don’t fully understand. It seems that while bumper-pull travel trailers tend to depreciate at about the same rate as class A and class B motorhomes for the first ten years when maintained well, their rate of depreciation slows significantly after hitting that ten-year mark.
This means that while your motorhome will continue to depreciate fairly quickly after a decade, your trailer will hold value much better, making older travel trailers a surprisingly good investment. Just be aware that the trailer will likely need more regular maintenance and repairs than a new rig.
Look at Age Before Mileage
If you’re a car person, you might look at mileage before you consider age. Funnily enough, this may not be the best way to go about RV shopping. This is because RVs are not made to sit around, and an older motorhome with low miles is likely to have been left to sit much of the time. Additionally, even if the engine is in like-new condition, the rest of the RV will continue to age and deteriorate whether or not it’s used.
For this reason, we recommend considering the age of a motorhome before worrying about mileage. Sure, you might want to avoid a rig with an enormous number of miles, but a moderate number is likely a good sign.
Stay on Top of Repairs and Maintenance
In order to ensure your RV holds its value as well as it possibly can, it is incredibly important that you stay on top of maintenance and repairs. Be sure to reseal the roof and all seams at least once a year, maintain the generator properly (if it has one), keep up with oil changes, and replace parts right away when they break.
Doing these things will ensure the RV stays free from water damage and other damages that can be caused due to a lack of maintenance.
Look for Covered Storage
Storing your RV in all kinds of weather will cause it to look faded and worn much more quickly than is necessary. It’ll wear out the roof and could leave you with leaks, water damage, and hail damage.
For this reason, we highly recommend looking for covered storage. Keeping your RV out of the elements will help it maintain its value for a much longer time than if you were to store it in bright sunshine, rain, hail, and snow.
Use Your RV
Don’t leave your RV to sit for long periods of time! As mentioned above, RVs were not made to sit still for extended periods. Not using your rig means you will be less likely to catch issues such as leaks and pests that could lead to damage. It also means you will be less likely to stay on top of maintenance. This can reduce the value of your RV greatly.
If you aren’t using your RV, sell it and avoid excessive RV depreciation!
There you have it, our top tips for keeping RV depreciation at a minimum. Hopefully, these tidbits help you keep more money in your pocket, allowing you to have more adventures and make more memories.
About the author: Chelsea Gonzales
Chelsea has the amazing opportunity to take part in full-time RV living and traveling with her tiny tribe. She homeschools her five-year-old son as they travel, and takes full advantage of their unique situation by using the entire world as her son’s classroom. A group of total Disney fanatics, Chelsea and her family often find themselves in the Orlando area in order to visit the Disney parks, but they have also visited over 25 of the 50 states with plans to see many more along the way. No matter where her travels take her, Chelsea enjoys riding bikes, gazing at beautiful sunsets, finding new coffee shops, Irish dancing, and sitting around a campfire with her family.
You can join her adventures through her blog, Wonder Wherever We Wander.
Randy Beins ~ “I had just bought our new RV in Utah and was heading back down to Arkansas with my wife and dog. We were in a remote location coming down the side of a mountain near Estes Park, CO when the check engine light came on. It was very stressful as it was our first time driving the new RV. So, we pulled over and called Coach-Net, and we had an excellent experience!
At 12,000 ft elevation, I had my doubts that anyone would be able to help us that night, but boy your team came through! I only had to call one time and there was constant communication between us and your team until they were able to safely tow us to a qualified repair facility. We will definitely be renewing and will always have Coach-Net!”
