Part 7/19:
Dealer lots across the Midwest and beyond are mired in what’s now called “lot gridlock.” Rows of unsold new rigs sit under the sun, some for months, with red “aged stock” tags serving as silent alarms for dealers financially strained by interest costs on floorplan loans. Some dealers are now selling units at below-cost prices just to free up space, leading to rapid depreciation in used values.
Trade-in values have cratered—many owners are stuck with rigs worth far less than what they owe. Reports from online forums and sale listings reveal cases where owners financed their RVs during the boom and are now facing hefty loan balances that exceed market value. Many are unable to sell or refinance, effectively trapped in a cycle of negative equity.