Borrowing Money

RV Trends: What You Should Know

Do you have an interest in hitting the open road? You’re not alone. The old-school pastime of “RV-ing” is booming. Before you invest in a high-end RV, first consider some of the latest trends and make sure your purchase fits your lifestyle.

Are RVs here to stay? RV shipments recently saw a 17.2% increase, which makes 2017 the eith consecut
 

The RV lifestyle of hitting the open road is appealing to many (and continues to grow in popularity). Here are some potential reasons behind this industry growth1:

  • RVs support a balanced and active lifestyle 
  • Trips tend to be shorter and closer to home, which many people value
  • Ownership and travel can be a great value (comparatively)

RV vacations tend to cost much less than other types of vacation travel, even when factoring in the cost of fuel RV ownership. According to a recent study, the cost savings of traveling by RV is 21-64% for a group of four, and 8-53% for a group of two, depending on factors like the type of RV and type of vacation.2

RVs with automation: Today’s advanced technology is making its way into the RV world
 

Expect to see things like new advanced control systems and apps that can automate lighting, heating, air conditioning, awnings and the entertainment system, as well as solar and generator technology. 

What are people using (and buying) RVs for?
 

The reasons for wanting an RV differ greatly; however, one of the most common ones is to make it easier to travel with pets (think: less hassle to find pet-friendly hotels). Others prefer to be on their own time when traveling the country (think: no delayed flights). Following stock-car racing from city to city and college tailgating are two other popular uses.

New RV features to look out for
 

The more time you plan to spend in your RV, the more it makes sense to splurge on the latest and greatest features. Today you’ll see options for full-sized double door refrigerators, unique storage built-ins, rock climbing walls to the bunk house area (what kid wouldn’t love that?), walk-in closets (which means you can bring more … and travel longer) and even nice, glass-walled offices. 

2 Questions to find the right RV for your family
 

You’ll likely see three classes of drivable RVs. Class A is typically the biggest and most luxurious, with a length of up to 45 feet and can usually sleep up to eight people. Class C is a smaller version of A, typically maxing out at 31 feet in length. And Class B is (oddly enough) the smallest option, which is sometimes referred to as a camper van or conversion van and sleeps no more than four people. Some towable RVs are small and light enough to be towed by a standard-sized car, while others require an SUV or pickup truck. The detach feature provides you the convenience of detaching your vehicle for errands or exploring while on vacation.

Ready for a new adventure?  

Learn more about RV loans today.

1 “2017 Marked Eighth Year of Growth,” 2018, RV Industry Association

2 “Families Save Money When Owning, Using RVs Compared To Other Types Of Vacations,” 2018, RV Industry Association

3 “RV Trends in 2018 for the Adventure Hungry Traveler,” 2018, Go RVing

4 “Top 25 Coolest RV Features of 2018,” 2018, RVingPlanet

This content does not constitute legal, tax, accounting, financial or investment advice. You are encouraged to consult with competent legal, tax, accounting, financial or investment professionals based on your specific circumstances. We do not make any warranties as to accuracy or completeness of this information, do not endorse any third-party companies, products, or services described here, and take no liability for your use of this information.

Related