Times have changed, so did the way people travel. People are looking for ways to travel safely by avoiding the crowd. A lot of people no longer feel comfortable traveling by plane, bus, or train.
Two of the most popular travels nowadays are through a boat or an RV. Aside from safety, the main reasons for shifting to boat and RV travel is convenience, flexibility, and the ability to basically bring your home.
Thriving due to the pandemic
Many businesses went downhill during the pandemic. However, since people are trying to stay away from crowds while traveling, the sales of boats and RVs are at a high. Families are looking for ways to travel while practicing social distancing. Boating and RVing are two of the best ways to do that.
Further, with the shutdown of summer camps, schools, and sports leagues due to the pandemic, families are also looking for other ways to bond and go outdoors. Because of this demand, RV and boat dealers kept their doors open for sales.
RV dealers in the early months of the pandemic suffered a downfall with their sales. However, in the middle of 2020, there was a spike in RV sales. The inherent social-distancing protocol was the main reason for the turnaround of RV sales. The only problem with this demand is the supply.
Moreover, dealers say the reason for the spike in sales is the number of new RV and boat owners. The curiosity over RVing and boating served as an advertisement for newbies to try such.
Prices of boats and RVs fluctuate per season. Like most products, the best prices for boats and RVs are off-season. This off-season pertains to fall and wintertime. Obviously, no one is interested to go outdoors during these times due to the cold weather.
Camps and boat adventures usually happen during summertime. Prices are high during this time. Further, the cheaper ones are usually sold out by then. You’ll be left with only the expensive ones. Therefore, the best time to buy a boat or RV is during fall and winter.
Also, the early months of the year are the months where trade shows usually open. Take advantage of trade shows, of course with safety precautions in place. Dealers and enthusiasts can offer you the greatest deals and inclusions. Enjoy a place filled with boats and RVs. This is the perfect time to know the latest tech and other industry advancements.
Another best time to buy a boat or an RV is during the end of the camping and boating seasons. The demand for boats and RVs are expected to lessen during the end of these seasons. During this time, dealers can offer the most promising bargains.
Boat and RV financing options
The biggest concern when buying big-ticket items, such as boats and RVs, is the budget. Not everyone has the liberty to shell out a huge amount of money in one go. Good thing that there are many financing options for aspiring boat and RV owners.
Boat and RV financing usually is secured. The boat or RV serves as collateral to secure the payment of the loan. If you fail to pay the amount within the agreed period and goes beyond the grace period, then the unit will be retrieved by the lender. Loans are paid in fixed monthly or weekly rates that can last up to 20 years.
There are many financing options in the country. Search online for lending facilities that fit your financing needs and financial standing. You can also borrow overseas if you plan to purchase one abroad. You can try looking online for boat and RV financing, such as My Financing USA recreational financing and other various lending facilities, for financing options for foreigners.
Benefits of having your own boat and RV
First, you can practice social distancing with a boat or an RV. You no longer need to go to a public restroom or interact with other people at hotels and restaurants. You will only be mingling with your family and a couple of friends in a contained area.
Second, you can earn money with your boat or RV. If your passion for traveling is already settled, then you can rent out your unit to other people. Make sure that when you rent it out, you will disinfect it after usage.
Third, traveling with one is convenient. You can bring as many things that you want with a boat or RV. Also, you can cook, eat, and sleep in your unit. It’s basically a house on wheels or sea. There are no restrictions on what you can bring on your trip.
Fourth, it’s more affordable to travel using a boat or RV. Think about the expenses when traveling via plane or cruise ship. The expenses for food and accommodation can also be more expensive than how much you’ll spend on your trip with an RV or boat.
Lastly, you hold your time if you travel with a boat or RV. There will be no other tourists you have to wait for on a group trip. You can also explore places that are not tourist spots. Your trip will be flexible.
Things to consider before buying
1. Make sure the boat or RV fits your lifestyle. If you will camp or sail with family members and pets, then get a spacious unit with a wide floor plan. If you like camping in places without water and electricity, make sure your RV has a big water tank. If you plan on fishing, your boat must have a space for your fishing rods and buckets.
2. Choose between a new or used boat or RV. New ones are more expensive but have little to no damage issues. On the other hand, used ones are cheaper but have more risk of damage.
3. Aside from financing options, also think of other expenses that come with maintaining a boat or RV. These units need periodic maintenance. You will also need to pay for docking and parking fees if you’re not using your boat or RV.
While businesses are at a downhill because of the pandemic, the RV and boat business is at a high. Social distancing, cheap offerings, and a wide range of financing options are the main factors for the increase in sales.
Lauren Cordell is a financial adviser that writes on various business and finance websites. She focuses mainly on how to start and handle small businesses and managing finances. If she’s not writing, you will find her sitting on the corner of a coffee shop while reading her favorite book of the moment.
Why boat and RV sales are soaring high