Your Guide to Buying a Trailer in Ontario

Are you the type of driver that’s addicted to road trips and cross-country adventures? Then it may be time to start looking for a travel trailer. Travel trailers are an efficient, exciting way to travel across Ontario and the rest of Canada. But, like any other big purchase, you shouldn’t rush or make a hasty decision.

Buying a trailer is undeniably expensive; some Ontarians try to offset the initial cost by purchasing a used model.

But, is this really the right choice?

This article will discuss the ins and outs of buying a trailer in Ontario, along with the pros and cons of various types of models. So, if you’re in the market for a travel trailer but are still on the fence about whether you’d like a new or used model, buckle up because we’re about to get started!

What is a travel trailer?

The term “travel trailer” is often mixed up with the term “RV” (also occasionally referred to as a motorhome) because the two types of vehicles are relatively similar. However, there are some key differences that you absolutely need to be aware of before making your decision.

Travel trailer: A non-motorized vehicle that needs to be towed by a third-party truck or SUV.

RV - A motorized vehicle that is controlled by the driver. RVs don’t get towed by third-party vehicles.

Pros and cons of buying a travel trailer

There are positive and negative aspects to new and used travel trailers. Taking the time to assess each of these characteristics can help you make an informed decision in the future.

Pros of buying a new travel trailer

Some of the positive aspects of buying a new travel trailer include:

Modern quality

If you’ve ever bought a brand-new vehicle before, you know just how incredible it feels once you finally hit the road.

The same goes for travel trailers — going on an adventure in a factory-fresh travel trailer feels outstanding. Everything is fresh, clean and up-to-date; not to mention, you get access to the latest gadgets and entertainment features. What’s not to love?

Peace of mind

When you buy a used vehicle, you never know exactly how well the previous owner treated it. Although it may look pristine on the outside, there may be internal issues.

The same goes for travel trailers — but if you buy a new model from a dealer, you can sleep well at night knowing that you have an issue-free trailer.

Warranty

Lastly, buying a trailer from a dealer gives you access to a warranty. Having a warranty can provide you with additional confidence while you’re behind the wheel.

However, always double-check the warranty length — generally, travel trailer dealers offer a 12-month warranty on most models.

Cons of buying a new travel trailer

Now that we’ve touched on the positive aspects let’s dissect the negative characteristics of buying a new trailer.

More expensive

Honestly, this point is relatively self-explanatory; new travel trailers always cost more than a used version of the same model. However, due to the rising cost of parts, travel trailers are pricier than ever.

In Canada, the average travel trailer will set you back approximately $24,000. The hefty price tag makes it difficult for many Ontarians to purchase a new model.

Insurance costs

Technically speaking, you don’t need to purchase travel trailer insurance; however, we highly recommend that you consider buying it before your next big road trip.

If you get into an accident or collision and don’t have travel trailer insurance, you’ll have to pay for the trailer-related damage out of pocket.

But, Ontarians should be aware that they’ll have to pay more for insurance if they have a new travel trailer. Thankfully, you can cut the cost of your travel trailer insurance by chatting with one of our licensed insurance advisors. Our licensed insurance advisors can provide you with the most affordable travel trailer insurance quotes from the most respected carriers in Ontario.

Go online today to receive ten quotes in ten minutes or less!

Pros and cons of buying a used travel trailer

Before buying a used travel trailer in Ontario, be sure to go over the pros and cons:

Pros of buying a used travel trailer

Here are some of the positive aspects of buying a used trailer in Ontario:

Less of an initial investment

As mentioned above, buying a brand-new travel trailer can burn a hefty hole in your wallet. In contrast, used models are much more affordable. You can occasionally find used models for sale at a very reasonable price; however, these offers tend to get snapped up quickly.

Slower depreciation-rate

Have you ever wondered how much your trailer is worth today? One of the easiest ways is to look up the depreciation rate of your travel trailer.

Much like cars, trucks and other vehicles, travel trailers depreciate over time. For instance, most travel trailers lose as much as 39% of their original value after just five years.

However, if you purchase a used model, you don’t need to worry about depreciation quite as much. After the five-year point, travel trailers tend to depreciate at a much slower rate. Because of this, used models retain more resale value (which can be beneficial if you decide to upgrade in the future).

Cons of buying a used travel trailer

Here are a handful of the negative aspects of buying a used model that you should be aware of before going on your next scenic drive:

Varying quality

When you buy a brand-new trailer, you know exactly what you’re going to get. In contrast, purchasing a used travel trailer can require a little bit of luck. You never know what it’s been through or when an issue may occur.

These issues may be caused by general wear and tear or a problem that the previous owner failed to mention. Because of this, you need to carefully inspect the prospective trailer before committing to a purchase.

Difficult to find

Unless your local dealership offers used models, tracking down a used travel trailer can be a challenge. You’ll likely need to spend a fair amount of time scouring the web or leafing through your local newspaper in order to find a private seller.

Which is the right choice for you?

At the end of the day, there isn’t a right or wrong decision. Both used and new travel trailers are fantastic options for Ontarians that want to hit the road in style.

However, failing to go over the pros and cons of each option before making a purchase may leave you with a model that doesn’t meet your expectations. So, always remember to do some research before signing on the dotted line.