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Old 12-27-2020, 06:56 PM   #1
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2021 Used RV Glut? Not so fast . . .

I thought I would toss this out here for discussion. With so many people predicting new RV owners wanting to sell as soon as other travel options here's why I don't see it happening.

Most of those new units were financed. With the steep depreciation in the first couple years those folks will be upside down on the loan. They will owe more than anyone is willing to give them. They will be in a position where they will need to take out an unsecured loan to unload their purchase. Being unsecured it will be at a much higher interest rate with potentially higher monthly cost.

While there may be some bargains, I'm not expecting people lined up to take those losses.

Thoughts?
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Old 12-27-2020, 07:10 PM   #2
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I worry about all the poor maintenance some of the first time RV buyers could have neglected winterizing. Storage fees, upkeep, initial quality frustrations....I still lean to a sizable used RV market sooner then later.
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Old 12-27-2020, 07:22 PM   #3
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Quote:
Originally Posted by TaftCoach View Post
I thought I would toss this out here for discussion. With so many people predicting new RV owners wanting to sell as soon as other travel options here's why I don't see it happening.

Most of those new units were financed. With the steep depreciation in the first couple years those folks will be upside down on the loan. They will owe more than anyone is willing to give them. They will be in a position where they will need to take out an unsecured loan to unload their purchase. Being unsecured it will be at a much higher interest rate with potentially higher monthly cost.

While there may be some bargains, I'm not expecting people lined up to take those losses.

Thoughts?
Many will just let the bank repo them.
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Old 12-27-2020, 08:02 PM   #4
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A lot of my customers have what we around the shop call, f you money. One of our deceased customers estate just unloaded 20 ferrari's out of the detached garage mahal. Upside down is not in their vocabulary. No is a word they never hear.
Are there tens of thousands of customers like that or dozens?
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Old 12-27-2020, 10:03 PM   #5
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I agree with grumpy, they'll let them get repo'd. People dont care and with all these stupid websites and other increase my credit score outfits out there, they'll take a ding on their credit by letting it go and within a year or two they'll have their credit score repaired. It's being made too easy for this kind on nonsense to happen.
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Old 12-28-2020, 08:52 AM   #6
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the glut will happen in 2022/23, that is the time to upgrade to something slightly if at all used... there is going to be a blood bath in the RV market... and to some extent the boat market... the year three is when they go oh man that thing sits in storage, i make monthly payments and we used it twice in 2 years for 4 weeks... maybe... time to get rid of it... just like 2009 you could pick one up for pennies on the dollar... rinse and repeat...
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Old 12-28-2020, 10:54 AM   #7
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i hope there is a lot of campers for sale that have sat in driveways and were never used, as long as it brings the used prices down
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Old 12-28-2020, 11:06 AM   #8
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I read this as if not totally satisfied with your current unit, sell sooner than later. Buy again during the glut and enjoy greater campground availability at the same time.
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Old 12-28-2020, 02:07 PM   #9
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I love our current trailer, my daughter and her boyfriend are looking for a good used one and the prices are just way up, I want them to come down so they can buy their own
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