Why One Expert Says Now Is The Best Time to Buy a Motorhome
When it comes to buying a motorhome, two primary factors tend to push against each other. On the “for” side, your RV dealer is pushing for the sale. Before you judge them too harshly, remember that is their job. On the other side, pushing back … are the banks. They are pushing to loan and finance as little as they can. This too, is their job. So who do you believe when someone says that now is the best time to buy a motorhome?
An Expert from Both Sides of the RV Aisle
One individual uniquely qualified to speak from both sides of the dealer/banker aisle is President and CEO of National Indoor RV Centers, Brett Davis. With a history of success in banking and investments before launching NIRVC, Brett is famous for his educational videos on banking and the economy, as evidenced by this discussion regarding the Silicon Valley Bank collapse. Often called a “Brett Talk,” RV Business featured a video discussion regarding RVs, banks, and the economy a few months later.
Similar stories have played out on podcasts, radio interviews, and the like. Suffice to say, Brett’s expertise in both the banking and RV industries is well-documented. In his latest video, Brett goes into great detail outlining why right now might very well be the best time to buy a motorhome.
About The Video
As Brett states in the opening moments, this particular video was an ad-hoc pivot away from a current series he is working on, due to the needs he felt needed to be addressed. While Brett openly expresses his lack of comfort in front of the camera, his mastery of numbers and his understanding of metrics and trends is a soothing alternative to the noise of conventional media.
This is not a quick, click-bait, smash-and-grab video. Brett’s extensive, careful analysis, honest revelations, and in-depth explanations are a breath of fresh air that runs longer than your average sitcom episode. If you are in the market to buy a motorhome, do yourself a favor and take the time to understand why now is an ideal time to make that commitment and jump in the RV ownership waters.
Analyzing the Market for Buying a Motorhome
The video carefully outlines the logic that Brett and the NIRVC team use to determine their expectations for the coming year. Some of these factors seem obvious, some are a bit surprising. The average consumer would simply not have the ability to digest and understand this data without the help of this video, nor would they be able to acquire this information easily on their own. As Brett explains, these factors, combined, have the highest correlation to the temperature of the RV market. Here are some of the analytic markets Brett uses to determine the current environment to determine if now is the proper time to buy a motorhome.
The COVID RV Glut
Many in the industry predicted that once the COVID phase was more or less over with, some of those buyers would return to their “normal” lives, and sell the RVs they bought to hit the road and get away from it all.
30-Year Treasury Bond
In Brett’s view, the 30-year treasury bond correlates best to the 20-year retail finance rates most associated with a large motorhome purchase.
US Median Household Income
With an expensive purchase such as a motorhome, often the second-most expensive thing you will ever purchase after your sticks-and-bricks home, median household income plays a part in the overall formula for those RVers looking to finance a motorhome.
S&P 500
The Standard & Poors (S&P) numbers are a correlation factor in the formula related to those RVers looking to pay cash for their new motorhome.
History
Historical sales data, factoring in variables such as interest rates, inflation, past sales, and market trends.
Tiffin 35-foot Allegro Diesel Motorhome
Brett’s logic for using this specific motorhome comes from the fact that it was in production in 1980, and is still in production today. This gives a four-plus decade baseline to track through history.
The 4 Reasons To Buy a Motorhome Right Now
As we reach the end of the video, having analyzed the data above, Brett lays out specifically the four reasons to buy a motorhome right now, adding that the timing to buy may not be this perfect for another several years.
- The motorhome market is clearly overbuilt across all classes, making this a buyers market.
- When the market is the most overbuilt, it is the best time to buy a motorhome.
- The motorhome market hasn’t been this overbuilt in more than a decade.
- The entire supply chain is losing money and desperate for sales revenue.
Watch The Video
If you find those factors interesting, surprising, or even confusing … then take the time to watch the video. If you are looking to buy a motorhome, then watch the video. Perhaps you are simply interested in seeing an expert in their element? Watch the video. It’s difficult to do this data justice without the full picture and scope of knowledge that Brett presents. Hopefully the few tidbits we have shared here will encourage you to watch this informative video in full, especially if you are looking to buy a motorhome.
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