When you make a purchase, you’re likely wondering how that purchase will retain its value over time. Much like cars, recreational vehicles can depreciate in value as time goes on. The good news is, RVs generally don’t depreciate in value as rapidly as cars, and today’s increased demand for RVs has helped all classes retain impressive RV values.
Vehicles depreciate in value as time goes on including cars, trucks, boats, and even RVs. This is because newer options continue to enter the market each year, making the older models generally less in-demand. Wear and tear, even that associated with normal use, also cause the value of vehicles to depreciate. Proper maintenance, along with keeping records of your RV’s upkeep, can help preserve some of its value.
The exact rate of RV value deprecation depends on the specific RV and the use of the vehicle. Each RV class has its own depreciation rates, but in general, you can calculate a drop of 17-20% in the RV’s value during its first few years. As time goes on, the deprecation is greater. So if you’re looking to trade-in for a different RV or you’re simply looking to sell your RV, the sooner you sell the higher the value will be.
The best way to avoid RV deprecation is to keep your RV up to date on all service and scheduled maintenance needs. If you’re not interested in owning your RV any longer, quick RV sales make it easy to sell without incurring further depreciation.
In general, RVs of all classes retain a large portion of their value for the first 5 years of ownership, and there is still value far beyond 5 years of ownership. RV depreciation happens, but today’s in-demand RV market has helped many towables and motorhomes maintain impressive values. Whether you’re selling an RV with a loan or selling an RV that you own outright, there are dealers who buy used RVs that are ready to help!