Many people regret making big purchases. Sometimes it’s regretting a new car purchase only three months into making the expensive monthly payments. Sometimes it’s wishing you hadn’t bought the house next to your in-laws.
What we’re seeing right now is RV regret. Campers who recently purchased an RV — whether to live in or take vacations in — are now wishing they hadn’t. Let’s take a closer look at this growing phenomenon and the drop in used camper prices as a result.
What’s Causing Campers to Have ‘RV Regret?’
Across the country, we’re seeing RV regret as new RV owners are ready to sell their recently purchased RVs or are frustrated that they made such an expensive purchase. Let’s look at why campers are now experiencing RV regret.
Unexpected Costs
Buying an RV isn’t the only cost involved in RV ownership. There’s insurance and taxes. Then there are the essentials for camping: water hose, sewer hose, surge protector, and more. The unexpected costs plus the overall cost of camping are causing campers to regret those RV purchases.
They Bought New
Many people choose to buy new because they get a warranty and believe that a new RV won’t have any problems. Unfortunately, new RVs can experience just as many problems as used RVs.
The unrealistic expectation that new RVs are perfect is causing campers to regret their new purchases. New RVs also come with higher price tags. The monthly payments are catching up to campers, especially if they aren’t using the RV as much as they thought they would.
Minimizing Isn’t Easy
Individuals, couples, and families who have chosen to sell everything and live in an RV are discovering that minimizing isn’t easy. The process itself isn’t easy. From dropping off donations to taking trash to the dump to putting the house on the market to shopping for an RV, the entire process of minimizing is stressful.
And then the actual minimizing is hard. Deciding what to keep, what to store, what to sell, what to trash, and what to donate is exhausting. It’s also emotionally draining. Getting rid of items you’ve had for years is difficult.
They Rushed Their Purchase
Going along with the previous reason, many people thought they’d like to minimize and live in an RV and rushed out to buy the first one they walked through. Instead of taking their time and finding the best fit for their travel needs, they might have settled because they didn’t want to lose out on making the purchase.
Maybe a family of five bought a travel trailer with a bunkhouse and then realized they really needed a larger living space. Maybe a couple bought a camper van because they wanted an RV they could drive and then realized the space was way too small. Rushing into their purchase is causing RV regret for many campers.
They’re Traveling Less Than They Thought
Going along with the unexpected costs, this reason is causing some campers to wish they hadn’t made that RV purchase so hastily.
They had a picturesque image of sitting around the campfire every Friday night roasting marshmallows and didn’t consider ball practice, dance recitals, and work functions that would also require their weekend time. They spent all of this money on camping gear and a new RV that they’re only using once a month.
How Much Are Used Camper Prices Dropping?
Currently, used camper prices aren’t dropping substantially, at least not enough to flood the marketplace. Used camper prices are going down steadily as a result of RV regret. However, you can still expect to pay more for a used camper now than you would have two years ago.
Are Used Camper Prices Expected to Keep Lowering in 2022?
The good news for anyone looking to buy a used camper in the future is prices should continue to decline. With new RVers ready to call it quits for a whole slew of reasons, we’ll see more used campers on the market in 2022.
Are Used RVs Still Overpriced Even With This Slump?
You’ll still pay more for a used RV in the foreseeable future. It might be a few years before prices settle to a more typical range. Campers are still in demand, so sellers are pricing them accordingly.
However, since they are in demand, they’re also hard to find. So if you find a used camper you like and that fits your needs, you might have to pay more than you want for it.
Although we’re seeing RV regret, prices for used RVs will still be higher than average. Until used RVs for sale flood the market, and as long as people are still willing to pay more, the prices will remain high. But we should see a leveling off in the coming years.
Are you considering purchasing a used RV and hoping to see prices drop? Or are you one of those campers experiencing RV regret and hoping to sell your recently purchased RV?
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