As the owner of an RV rental business, finding the right RVs to add to your fleet can make or break your success. You need to ensure you are getting a good deal on quality RVs that will hold up well to the rigors of rental use, but also be priced competitively to attract renters. With so many factors to consider, the process of sourcing RVs for your business can feel daunting.
However, with the right strategies, you can consistently find fantastic deals on RVs that will provide a strong return on your investment. In this blog post, we’ll cover the top tips and tricks for locating the best RV deals, including where to look, how to negotiate, the prime time of year, and other crucial considerations.
Where to Look for RV Deals
The first step is knowing where to search for potential RV purchases. Here are some of the top places savvy RV rental business owners look:
RV Dealer Lots
Visiting local and regional RV dealerships is a great way to see a wide variety of RVs in person. Dealers often have a mix of new and used models and may be willing to negotiate on pricing, especially on older or slower-moving inventory. Be sure to do your research ahead of time to know the fair market value for any RVs you’re interested in.
Auction Houses
RV auctions can be an excellent source of heavily discounted RVs, but you need to be cautious. Inspect any RV thoroughly before bidding, as there may be hidden issues or damage. It’s also wise to have a mechanic give it a full inspection before purchase. With the right precautions, auctions can yield incredible deals.
Online Classifieds
Websites like Craigslist, Facebook Marketplace, and RV Trader are great sources for finding private party RV sales. Individuals are often more motivated to sell quickly than dealers, so you may be able to negotiate a lower price. However, you’ll want to be extra diligent in vetting the RV and the seller.
How to Negotiate a Better Deal
Once you’ve identified some promising RV options, it’s time to start negotiating. Here are some tips to help you get the best possible price:
Know the Market Value
Research the typical selling prices for the make, model, year, and condition of the RV you’re interested in. This will give you a solid baseline to work from during negotiations.
Time it Right
The best time to negotiate is when the seller is most motivated to sell. This is often in the off-season, when demand is lower. You may also have more leverage if the RV has been listed for a while without selling.
Start Low
Don’t be afraid to make an initial offer that’s well below the seller’s asking price. They’ll likely counter, and you can meet somewhere in the middle.
Highlight Issues
If the RV has any cosmetic or mechanical issues, use those as bargaining chips to drive the price down. Get repair estimates ahead of time to back up your claims.
Offer Cash
Sellers are often eager to avoid the hassle of financing, so paying in cash can give you an advantage. You may be able to negotiate an even better deal.
The Best Time of Year to Buy an RV
The timing of your RV purchase can have a big impact on the price you’ll pay. In general, the best time to buy is during the off-season, when demand is lower. Here’s a quick overview of the seasonality:
Spring and Summer
This is the peak RV season, when demand (and prices) are highest. Dealers and private sellers know they can command top dollar, so negotiating is toughest.
Fall and Winter
As the weather starts to cool, RV sales slow down. Sellers become more motivated to unload inventory before the new year, so you’re more likely to find discounts.
Late Fall
The prime time to buy is typically late fall, around October or November. Dealers are trying to clear out the previous model year, and individuals want to sell before winter sets in.
Other Important Considerations
Beyond just the purchase price, there are several other factors to keep in mind when sourcing RVs for your rental business:
Condition and Mileage
Thoroughly inspect any RV you’re considering, inside and out. Look for signs of wear, damage, or needed repairs. Also check the mileage, the lower, the better.
Warranty Coverage
If buying used, see what warranty coverage (if any) is still in effect. Extended warranties can provide valuable protection, but be aware that not all extended warranties are legitimate. Do your research and find one that is well-reviewed where customers had their claims covered.
Rental-Readiness
Think about how easily the RV will transition into your RV rental fleet. Are the layout and amenities well-suited for your market of renters? Is it ready to rent or in need of some TLC?
Tax and Registration
Don’t forget to factor in any applicable sales taxes, registration fees, or other costs associated with the purchase and titling of the RV.
Keeping these tips in mind will put you on the path to building an impressive RV rental fleet at prices that maximize your profits. Remember the key is being patient, doing your homework, and leveraging your negotiation skills. With the right approach, you can find amazing deals on high-quality RVs that will serve your business well for years to come.