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     Previous Issues

 June 15, 2016    ~     Vol IX    Issue 21

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Should I Buy a New or Used RV?

That's an important question, and there is no simple answer. Just as with purchasing an automobile, you're bound to find a myriad of opinions and reasons to support both sides, but the final decision comes down to how you answer a couple of key questions:

1) How much do you want to spend? 
2) How important is the value of your RV to you? 
3) Are you willing to shop around? 
4) Do you have to have the latest features and gadgets to be happy with your RV?

Let's look at each question individually, so you can see how your answers will lead you either towards a new or a used RV.   Continued at the bottom right....

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In each new issue of Top Active Adult Communities, we bring you new and established active adult communities from across the country.  Not all of these developments are age-restricted - some of them attract singles and families - but many of them offer the amenities and lifestyle sought by retirees and empty-nesters.

 

 

Rossmoor

28 Sussex Way, Monroe Twp, New Jersey  08831

(609) 860-0500

Age Restriction:  55+

3,000 condominiums

Priced from $73,000

Web Site and Web Site

Condo and co-op ownership; American Colonial architecture


Seasons at Prince Creek West

125 Sugar Loaf Lane, Murrells Inlet, South Carolina  29576

(843) 945-1880

Single family homes

Priced from $308,500

Age restriction:  55+

Web Site

Surrounded by bays and inlets, 10 minutes from Myrtle Beach


Province

20930 N. Province Parkway, Maricopa, Arizona 85138

(877) 275-6374

Single family homes and town homes

Priced from $194,900

Age Restriction: 55+

Web Site

Nicely landscaped, 50-acre lake, Duke Golf Course across the street

 


Rapallo at Coconut Point

8721 Piazza del Lago, Estero, Florida  33928

(239) 321-6558

540 condos, coach homes, cottages

Priced from $249,000

Age Restriction:  All ages

Web Site

Club membership included, lagoon pools, sports club


Cooper Point Village

4125 Capital Mall Dr. SW, Olympia, Washington  98502

(360) 956-9400

Single story apartments

Priced from $1,440 per month

Age Restriction:  55+

Web Site

Attached garages, full size washer and dryers, community events

 

Should I Buy a New or Used RV, continued...

How much do you want to spend?

This first question is really the most important. After all, unless you're a recent lottery winner, you're on a budget. The bottom line is simply that a new RV is going to cost you a great deal more than a used RV. Even if you know how to haggle with the salesman, you won't be able to get a price close to what you'll pay for a comparable used RV.

Of course there are other things to consider than just ticket price. For one, used Recreational Vehicles tend to require more maintenance than new ones, and these repairs are less likely to be covered by warranties. Another thing to consider is that it may cost you more to refurbish a used RV so that it meets your tastes and your needs.

In the end, however, most RV owners would still pay less for a used RV than for a new one. Insurance rates, taxes, and licensing fees are usually also lower for a used recreational vehicle. However, if the cost is not your main concern, then you may prefer the ability to select and customize a new RV instead.

How important is the value of your RV to you?

In many ways buying an RV is no different than buying a car. For example, if you buy a new car the value of that car depreciates by as much as 30% the second you drive it off the lot, plus another 10% by the end of the first year. The same is true for a new RV. On the other hand, a used RV has generally already experienced its major drop in value. Therefore, unless its condition changes dramatically (i. e. it's involved in an accident or becomes undriveable), its value should remain relatively constant.

So why is this even important? For one, if you are in an accident and your RV is totaled, even on the first day you bought it, your insurance would not reimburse you for the total price of that vehicle. You'd receive only the de- predicated value. It also means that if you decide to sell your RV very soon after it is purchased, you won't be able to get back anything close to what you paid for it, even if it is still in exceptional condition and has incredibly low mileage. With a used RV that wouldn't be the case. Because what you pay for a used RV is determined, in part, by its book value. If it was totaled, your insurance company would reimburse you by that amount so you would not lose nearly as much. In addition, unless you were really hard on the vehicle or racked up a lot of miles, you could still resell it for fairly close to what you originally paid.

Of course, if you are optimistic and plan to have this RV for the rest of your life or, at least, for a good number of years, then the off-the-lot drops in depreciation may not be such a big deal. But, if you're unsure or if you're accident prone, you may want to opt for a more value-stable used RV.

Are You Willing to Shop Around?

Buyers come in all varieties. Some people just want to go to the lot, find an RV, and buy it without ever going anywhere else. They know exactly what they want when they see it and nothing is going to stop them from having it. Other people like to casually stroll through RV lots, browse classified ads, and peruse online sites for months before they make a decision. Most people probably fall somewhere between these two extremes.

If you want to buy a used RV, however, you have to be willing to do some shopping around, especially if you plan on going to a private seller (we'll discuss that decision a little later). When you purchase a used RV, you aren't just comparing prices among models of the same year or their features. Instead, you're comparing the value of recreational vehicles that may have 3-5 years difference in their model years. For example, it may be cheaper to buy the 1996 model, while a 1999 RV might cost more but be a better value. You'll also be comparing mileage, wear and tear, etc.

Before you finalize your decision on any used RV, you should also have the vehicle thoroughly examined by a mechanic who can give you some idea of what, if any, major repairs may be awaiting you down the road.

As you can see, buying a used RV isn't as easy as going to the grocery store and deciding between different brands of green beans. It does require more time and research than the purchase of a new one, but if you're willing to spend that time and effort then it may pay off for you in the long run.

Do you have to have the latest features and gadgets to be happy with your RV?

Here's the final question, and it's probably more important than you might think. Take, for example, a car. New cars come standard with features such as passenger side airbags, CD-changers, rear window defoggers, and automatic windows that just weren't as widely available on cars a few years ago. For some people, the idea of not having a CD player in their car is something they can live with, but for others it can mean the difference between making a purchase and moving on to the next car.

The same is true for an RV, but to a greater extent because you will be spending more time in your RV than your automobile. Plus, the range of features available on an RV is vaster than simply whether to have leather seats or a sunroof. Some RVs are so packed with extras that they feel and look more like luxury hotels than actual on-the-go vehicles.

As you can probably guess though, the latest features are always going to appear on the newest RV models. So if having a top-of-the-line, totally up- to-date recreational machine is what you want, then buying new is really your best option. If you are mainly concerned with only a few important options, you may be able to shop around enough to find a used RV that has them all. Not to mention, you may be able to buy a used RV that has more features and amenities than you could if you chose a new one simply be- cause of the enormous cost difference.

The bottom line is that the decision is yours. If you want to save money, are willing to shop around, don't need the latest gizmos, and want a more consistent value for your RV, then buying used makes sense. But if money or depreciation isn't that big of an issue and you want all the features possible, then you might want to go the new RV route. Your best bet, however, might be to keep an open mind about both possibilities. Do your research, shop around, and soon enough you'll find the perfect RV for your family.

~This book is available on Amazon Kindle.   RV SECRETS Exposed.  Ronald A Page owns and operates http://www.rvsecretsexposed.com - RV secrets.  Article Source: Ezines



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