My prediction for the future..
RV sales have been red hot for a few years. During Covid19 they couldn't keep them in stock, at least around here. That means there's a lot of quasi-impulse buys out there. In the near future there...
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Unless/until a lot of them hit the repossession market, I wonder how low the prices will go. A lot of people are going to be in a position where they can't afford to keep and and can't afford to sell it... Travel trailers financed for 10 years and motor homes financed for 15-20 years, bought at inflated prices mean that, even at current market prices, they will have to bring large sums to the bank to go with what they can sell it for just to pay off the note.
I predict the repo market will get very hot in a couple of years. Not sure if/how many banks do short sales on RVs, but I doubt its an option for most.
What's going to be interesting is when the new market "bubble" bursts. Obviously when new prices fall, used will have to follow unless new construction quality falls. But its hard to imagine new construction quality falling from where its been for the last few years.
Like the housing market, now is the time to sell unless you need to replace. Haven't done much real research because I'm not ready to trade, but my year/model TT is listing on RV Trader for more than I paid for it 3 1/2 years ago. In a few years, I'll be ready to go back to a class A, hopefully we'll be able to trade for reasonable values by then. Until then, we'll hold on to our current TT.
I predict the repo market will get very hot in a couple of years. Not sure if/how many banks do short sales on RVs, but I doubt its an option for most.
What's going to be interesting is when the new market "bubble" bursts. Obviously when new prices fall, used will have to follow unless new construction quality falls. But its hard to imagine new construction quality falling from where its been for the last few years.
Like the housing market, now is the time to sell unless you need to replace. Haven't done much real research because I'm not ready to trade, but my year/model TT is listing on RV Trader for more than I paid for it 3 1/2 years ago. In a few years, I'll be ready to go back to a class A, hopefully we'll be able to trade for reasonable values by then. Until then, we'll hold on to our current TT.
