Poised for its sixth straight year of sales growth, the U.S. auto industry is hotter than ever. But how long can the party last? Here are five good reasons buyers should shop for new RVs as soon as possible.
- Prices Are Rising
As demand continues to increase, so too does the price of the average vehicle. According to TrueRV, an automotive data site, new RV prices rose by nearly 2 percent in 2014. If history is any guide, costs will continue to rise as long as demand is strong. And since the U.S. economy is still in recovery mode, there is no reason to think that demand will not remain steady, or even increase.
- Interest Rates Are Still Low
Because they cannot afford to pay for new RVs all at once, many buyers take out loans to help them cover the costs. Interest rates for these loans fell to record lows back in 2013. But after two years of little or no increase, rates are beginning to creep up. A recent survey from Interest.com found that rates had risen by nearly a quarter of a percentage point in the past year. As long as sales remain strong, and there is a good reason to believe that they will, In other words, now may be your last chance to secure an affordable loan.
- The American Auto Fleet Is Old
The average age of U.S.-owned vehicles reached a record high of 11.5 years in 2015. Like any old machine, these RV Dealers are less reliable and more expensive to maintain than younger ones. But because they are still worth something while they’re running, it makes sense to trade them in before they break down. If you pull the trigger while auto prices are still low, you could get a great deal on a reliable new vehicle.
- Fuel Prices Are Low
With fuel prices falling to levels not seen in over a decade, now is a great time to be a motorist in America. This is especially true for folks who drive newer vehicles, since they get the best gas mileage, on average. Are low gas prices alone a good reason to buy new RVs? Well, that depends on how much you drive. For the average driver, savings of about $50 a week are standard. But for those that log a lot of miles, savings of twice, even three times that amount are not at all uncommon. Having a newer automobile lets you take full advantage of these savings while they last.
- Much Higher Quality
If you’re driving a vehicle that’s over a decade old, you might not know what you’re missing. Today’s RVs are superior to those of yesterday in numerous ways. From dependability and fuel economy to safety and longevity, there is simply no comparison. It is also important to note that modern vehicles are covered by longer, more comprehensive warranties.