If you need a recreational vehicle but are tight on budget, consider buying an older RV. But the question is, are old RVs worth buying?
Canada Powersports Financing has offered RV financing in Canada for years and knows a thing or two about investing in old recreational vehicles. In this post, we discuss the idea of buying older RVs to help you make a more informed decision.
Is an Old Recreation Vehicle Good for You?
An old RV can be a good investment if you do your homework properly when it comes to research and RV inspection. Purchasing a brand-new RV may not work for you due to steep up-front costs, depreciation, and other inhibiting factors.
An older RV is cheaper, and you can find some in good shape. What’s more, you can have it covered by roadside assistance and comprehensive warranty plans.
What Can You Consider an Old RV?
Are old RVs worth buying? The answer to this question largely depends on how old is too old for an RV.
If the RV’s maintenance needs outstrip your resources, it may not be worth it. Generally, motorhomes from the antique (1910-1944) and vintage (1945-1970) eras need a lot of extra loving care.
On the other hand, many classic (1971-1989), neo-classic (1990-2007), and modern-era RVs are still in good shape. Still, you need to know how to check the condition of an older RV before you invest in one.
Here are common tell-tale signs that an RV could be a terrible investment:
- Black mold infestation
- Vandalized interior or exterior
- Destruction from fire
- Holding tank corruption
- Severe water damage
- Defective engine or transmission
- Bent, twisted, or broken chassis
- Severe frame damage
While a standard RV has a lifespan of 20-30 years, molded fiberglass travel trailers can last much longer. U-Haul RVs with fiberglass shells manufactured between 1984 and 1992 are often in tip-top condition, and you can buy and easily restore them. Restoration mainly involves cleaning them up and getting new replacement parts.
Five Tips for Purchasing an Older RV
If you’ve decided to buy an older motorhome, these tips will help you find a great deal and save money:
- Beware of RV sale scams. Do your due diligence properly before parting with your money. If anything feels off, run away from the deal!
- Hire a certified RV inspector. Before making the purchase, it pays to hire a reputable third-party inspector to thoroughly assess the RV.
- Learn basic RV maintenance and repairs. This will save you thousands of dollars over the long haul.
- Sign up for road assistance. This will come in handy when your RV breaks down in the middle of nowhere.
- Invest in an extended warranty. This covers various components of your recreational vehicle even after the manufacturer’s warranty elapses.
Get Financing for Your RV Purchase
Are old RVs worth buying? Now that you have a detailed answer to this question, Canada Powersports Financing can help fund your purchase at the most flexible terms. We can even help you with finding the right RV for your needs and budget. Give us a call at (343) 308-1880 to get started today!