Class C RV cost in the Covid era...

[SJ-Chris]

Class C RV cost in the Covid era...

Here is a good data point for USED RVs for anyone interested...
(I haven't shopped for NEW RVs so I don't know about that market...perhaps someone else here can comment on that.)


In Feb 2019 (pre-Covid), I bought two 2015 Class C Thor Majestic 28a renovated units from Cruise America. Each had ~115,000 miles. One I paid $26,750 and the other one I paid $25,000 (from someone who purchased it from Cruise America 2 months prior but decided it wasn't for them).

Assumption: Cruise America, the largest renter/seller of RVs in the world, knows what the current market for RVs is...

Today, Cruise America sells their used 2017 Thor Majestic 28a renovated units with ~125,000 miles for $44,300. Newer RVs (2017 vs 2015) but more slightly miles.

The interior/etc of these units is just about identical.

$44,300 vs $26,750. Today's price is 66% higher!

I would NOT be in a hurry to buy an RV in this market. In the USA, we are almost done with Covid (...anyone who wants to get vaccinated can now be vaccinated). Everything is opening up. Hotels/airlines/resorts. I have to imagine prices will drop significantly. Maybe not all the way down to pre-Covid levels, but hopefully just 10-15% higher than pre-Covid levels. That means they are probably due for a 30-40% price drop over the next 3 months to 3 years (....who knows?...)

Seems like a great time to just RENT an RV for your vacations over the next year. That's what I would do (...unless you plan on camping more than 50-100 days during the next year or two which most people won't).

Side note: Beware used RV sale scams....they seem to be on the rise!

Good luck!
Chris

[WinMinnie02]

I would wait to buy, post Covid impact on demand and supply will be interesting, $ should go back to normal similar to other products that have spiked during Covid. Make sure you like the lifestyle since many new owners who rushed into it may sell. Maintenance and repairs especially on motorhomes will be a surprise for many especially if they are not handy.

[pnichols]

ron.dittmer wrote:
Hey, I am willing to sell my garage-kept rig HERE with 38,750 miles for the lean low price of only $90,000. I just installed a brand new set of Alcoa wheels, 6 Michelin Agilis tires, had a fresh wheel alignment and brake system flush. I'll even throw in a transmission fluid & filter change, coolant change, oil change, and air filter change. It'll be good as new (better than new).

😉

Hmmmm, Ron .... is that an indication that you guys are about to "throw in the RV'ing towel"? (Tell me it ain't so!)

FWIW, our RV'ing friends park their 24 ft. Class C in front of their garage and get notes left on it asking if they want to sell it!!!!!!!!!! 😉

[TwistedGray]

SJ-Chris wrote:


Yes, I understand what you are talking about regarding financing. But people are usually putting some money down and financing the rest so I don't think lender valuation will be too much of an issue.

-Chris

Another data point...

We bought our 19G last year, 86k miles and just under $45k all in and put nothing down. They assisted with financing through America First CU without any issues.

Great credit, two financed cars, mortgage, one salary, and no cc debt. No issues with valuation 🙂

[Scottiemom]

I want to buy a new/slightly used Coach House, but my current rig is doing the job, so I will wait on prices to drop. Mine is 17 years old 35, 000 miles on her and my mechanic who just changed the oil says she's barely broke in. We bought her to take to Alaska and she did great. When my DH died I sold our 40' Phaeton (got what I wanted) and I kept the little one. I'm currently on the road, 5,000 mile trip to see relatives I hadn't seen in a year, and I'm now on my way back to Florida. Life is good.

I have noticed the NADA price on my current rig is up from the last time I checked. She's in good shape inside/out, except for decals which I will be replacing.

Dale

[OFDPOS]

ron.dittmer wrote:
Hey, I am willing to sell my garage-kept rig HERE with 38,750 miles for the lean low price of only $90,000. I just installed a brand new set of Alcoa wheels, 6 Michelin Agilis tires, had a fresh wheel alignment and brake system flush. I'll even throw in a transmission fluid & filter change, coolant change, oil change, and air filter change. It'll be good as new (better than new).

😉

Hey Senor I give you 90,000 Pesos ! :B

[OFDPOS]

And you also have the people who are upside down owing on their MH and think they can just buy one 6 years ago, drive it , don't do any maintenance other than LOF's with no maintenance records !, then sell it for $4k less then the purchase price.

Was just looking at a used 2016 yesterday and today and the guy has a firm price of exactly that $4K less than the OPP, after him bragging all about it and then me pointing out several unsafe needed attention right now items , including the original DOT date stamped 4914 with 39,855 bald inside front tires. All seals on the roof cracked and split.
His comment "hey its a used vehicle".

[ron_dittmer]

Hey, I am willing to sell my garage-kept rig HERE with 38,750 miles for the lean low price of only $90,000. I just installed a brand new set of Alcoa wheels, 6 Michelin Agilis tires, had a fresh wheel alignment and brake system flush. I'll even throw in a transmission fluid & filter change, coolant change, oil change, and air filter change. It'll be good as new (better than new).

😉

[Pepi_s_Mom]

I had noticed the price changes while researching. We aren't ready to buy yet, so hopefully prices will shift down again by the time we are. Our goal is to have a new roof over our heads before the end of the year though, so I'll keep my fingers crossed that Cruise America drops their prices a bit.

[SJ-Chris]

A1ARealtorRick wrote:
Well, they're 'asking' 44 grand. I believe most people shopping for one of these ex-rental units don't have cash in their pocket, so they need to finance. The unit they're buying is going to have to book out for a potential lender to approve them. But, my guess is that these inflated prices aren't going to be around that long before the bubble bursts, just like the housing market did in 2008.

Most people's experience with buying from Cruise America is that their prices are very firm (other than the advertised sales they have sometimes). They don't negotiate on price. They WILL make repairs and fixes if you ask them prior to purchase. But the listed price is what they sell them for.

Yes, I understand what you are talking about regarding financing. But people are usually putting some money down and financing the rest so I don't think lender valuation will be too much of an issue.

-Chris

[RetiredRealtorR]

Well, they're 'asking' 44 grand. I believe most people shopping for one of these ex-rental units don't have cash in their pocket, so they need to finance. The unit they're buying is going to have to book out for a potential lender to approve them. But, my guess is that these inflated prices aren't going to be around that long before the bubble bursts, just like the housing market did in 2008.

[folivier]

Yep, the next few years will be interesting as RV's sit unused. And when they do get used things will break from sitting. Then the market will be flooded with LOTs of units needing LOTs of maintenance. Then campsites will become more available and we can continue our travels as before. I do feel sorry for those who bought thinking it will be easy to get their money back.

[PartyOf_Five]

Good data point, and what do you do with 2 RV? Rent 1 out?
We're hoping they market stays strong until it's time to sell, selfish but true. Some people will never go back to flying, just like will stay w as remote workers.