When shopping around for your next recreational vehicle, you’ll need to choose whether you want a new or used RV. While used RVs generally cost less, a new RV may come with better financing options.
New RV pros and cons
New RVs offer the latest features, advanced technology and manufacturer’s warranties for peace of mind. When you buy a new RV, you also have the option to customize or personalize the vehicle, so you can drive away in the RV of your dreams.
On the other hand, an RV’s value starts to depreciate the moment you drive it off the lot, and it comes with higher price tags and interest rates. Plus, it’s common for new RVs to have manufacturing flaws that’ll need to be repaired, though these are typically covered by the manufacturer’s warranty.
Used RV pros and cons
When you buy a used RV, you’ll spend significantly less money than you would on a new model. This may mean that you can afford to buy a higher-end used vehicle, rather than a new base-model RV. Depreciation is generally less significant, making it a potentially better financial investment.
Unfortunately, financing options for used RVs may be limited, and warranties might have expired, leaving you responsible for any potential repair costs. In addition, older models may lack the latest technology and amenities, and they’ll come with wear and tear from the previous owner.