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Are Used RV Prices Dropping in Canada?

Jul 20, 2023 | Blog, Financing

Buying a used RV doesn’t have to be daunting–streamline the purchase process with Canada Powersports Financing! 

Are used RV prices dropping for those exploring the Canadian marketplace? Even the humblest models can cost a pretty penny, so it’s only natural that you want to find the best deal possible.

As to the go-to source of RV financing in Canada, Canada Powersports Financing encounters this question all the time. Our specialists were curious, so we decided to dig into some data and break down the emerging trends in the travel vehicle industry. Read on so that you can make an informed decision about upgrading to that RV you’ve always wanted.

The Effects of the 2019 Global Pandemic Were Widespread

In 2018, the Recreation Vehicle Dealers Association of Canada and the Canadian Recreational Vehicle Association estimated that over 2.1 million households in the country owned an RV! But now that people have had to stay home for months on end, outdoor camping has become an even more attractive alternative to traditional vacations. So unsurprisingly, there’s been an exponential rise in RV ownership beyond 2019.

In fact, many manufacturers have struggled to keep up with the demand for RVs due to production halts, thanks to ongoing safety regulations and limited components. With a disrupted supply chain, the availability of new RVs dropped significantly, and the prices spiked.

Used Units Suffered the Same Fate

Unfortunately, budget-conscious decisions are also on the rise with the pandemic’s residual effects. Canadians are increasingly turning to second-hand vehicles as a cost-saving option—but many were disappointed. The increasing demand for pre-owned RVs also meant the prices shot up, especially for luxury models.

Fast-Forward to Today and RV Prices Aren’t There Yet

The Canadian RV market still has a way to go. The good news is that with the gradual return of manufacturing and production, experts predict a slowed demand for all types of RVs. The decreasing prices over the past few months are a testament to that.

Everyone knows that RV travel brings countless hours of joy, but you don’t want your excitement to cloud your judgment. Before locking in your purchase, always thoroughly inspect the vehicle, seek an expert evaluation if possible, and look up its history to make sure it’s worth the price. You should also compare prices from different sellers.

Where to Find the Most Bang for Your Buck

Are used RV prices dropping across all platforms? It’s time to evaluate your options.

Private Sellers

  • More willing to negotiate prices
  • Straightforward buying process
  • No warranty
  • No after-sale services
  • Need an experienced eye to spot potential problems

Dealerships

  • Usually pricier, and some establishments even sell for higher than new MSRP
  • Warranty and service support packages
  • A wide selection of models from different brands
  • Rigorous pre-sale safety checks

Buy an RV With A Trusted Financing Partner

So, are used RV prices dropping for the foreseeable future in Canada? Even if they aren’t, we at Canada Powersports Financing can streamline the purchase process with helpful advice and tailor-fit solutions. Call (343) 307-4958 today to learn more about our competitive interest rates before you negotiate a new RV purchase.

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