So, you’ve decided to sell your RV, or you’re shopping for a change. It was bound to happen. It’s even exciting. Just like buying a car or truck, RV purchases are rarely for forever, and each one usually reflects a chapter of our lives. But when that day comes, how can you figure out the exact value of your RV?
Well, glad you asked. Determining the value of your RV basically comes down to five steps that anyone can do. And, once you’ve done them, you can make that sell to get some cash in hand to find your next RV. (And that’s the exciting part.)
Step 1. Start with a Smart, Simple Tool
Whether you’re a dealership or an individual, RV Trader is a benchmark place to find or list used RVs. Quite literally millions of searches happen here for people looking to buy and sell RVs. And there are THOUSANDS of RV listings at any given time. (As of this article’s publication, there are 190,225, which is an OCEAN of RV listings.)
With that much information, we have the RV Trader valuation tool based on all those listings. This gives you a good starting place if you’re planning to sell your RV. (Or if you’re looking to get that perfect RV that’ll be your platform for adventure.) This tool also takes into account values from JD Power, which is one of the tools used by RV dealers to determine the value of RVs.
Step 2. Follow up with JD Power NADA Guide
How the Guide Works
Formerly known as the NADA guide (National Automotive Dealers Association), this is another source to figure out the value of your RV. The company basically takes the sale prices of RVs all over the country and puts them into a resource that calculates these values. You input the year, make and model of RV and the system will return a value.
Still, you should know: In using this guide, there are plenty of ways to affect the number it gives you. Options can affect the value of your RV, of course, and some of those options can make a big change in price. For example, a robust solar package, second air conditioner, generator or any number of big-ticket items can change what the RV is worth.
But these systems also give you a listing for options like an air conditioner, microwave oven, and even down to things like scissor jacks. Know that, if these were standard equipment on your RV that all RVs of your type came from the factory with, these weren’t options that affect the value. Unfortunately, as good as the information on this site is, it can be a bit confusing with respect to options. (Plus, lots of ads are there that seem like they’re actually part of the site but drag you somewhere else.)
Understanding the Different Values
Ultimately, the site will also give you three values: suggested list price, low retail, and average retail. If you’re shopping for a used RV or looking to value your own RV, suggested list price is irrelevant. Low retail would be probably about what a dealer would pay you in trade or if you just sold it there. Average retail would be closer to what you’d see that RV listed on a dealer’s lot for.
What all this does is give you a relative baseline. If you’re selling, I would start close to the average retail when listing the price of your RV, depending on the condition of your RV.
Step 3. Understand Condition Makes the Difference
How Condition Affects the Value of Your RV
One of the things that absolutely will affect the value of an RV is the condition. Even the perception of the condition. If there is clear damage to the RV or systems that don’t work, this clearly has an effect on the value of the rig.
If you’re a seller, this is true whether you’re listing your RV for sale privately or even taking it to a dealership. As someone who worked at a dealership I can tell you that the RVs that looked like they were truly unloved got a lot less value. Especially when compared to those that could immediately be turned around and put on the lot.
Since used RVs generally have more profit than new ones, seeing a well-cared-for used RV come in for trade or sale was exciting. And that’s because we knew our customers would also be excited about it. Bottom line: It would sell quickly.
Seeing something come in that looked like it had spent a bad night a the college fraternity was not exciting. Often times, these tired-looking rigs would get less value from us and end-up at the auction. It makes sense, right? We didn’t want an RV like that on our lot.
What You Can Do to Demonstrate Value
So,whether you’re selling it privately or taking it to a dealership, a good bath and attention to all the systems in the RV you’re selling can make a substantial difference in what you’ll sell it for. As a buyer, scrolling the listings here online, some of the RVs I see posted for sale look like they were used to go garage sale shopping. Som sellers don’t bother to take the junk out before taking the photos. (They should have used these great tips for taking better photos of your RV.
However, also speaking from the perspective of a buyer, when you do come across that RV that looks good, it’s also a good idea to have that RV inspected. The care an RV gets, particularly with regard to the seals that keep water out, will make a tremendous difference in your experience with that rig.
So, with that in mind, a seller who welcomes a professional inspector says a lot about that individual or dealership but the inspection can also money well spent.
Step 4. Remember Location and Seasons Are Factors
Regional Preferences to Consider
Both the RV Trader and JD Power valuation tools take into account where you are. And this is relevant. I recently sold my own RV, and that RV had a very robust lithium and solar system on it. The value to customers of this type of technology can be different depending on where you are. It’s a much more desirable package in the Southwest, where I spend much of my time. However, it would likely have been valued less in the northern part of the country.
That’s also true of RVs with multiple air conditioners. While the AC in my own RV didn’t get a lot of use, plenty of RVers in the South want multiple air conditioners in the summer months. So, RVs outfitted thusly might be easier to sell and carry more value. Where there is more of a presence of winter, RVs with good all-weather packages are likely to gain more favor.
Seasonal Advice for Selling
Even the time of year can change some of the value of an RV. For example, right now fewer people are thinking of venturing out than, perhaps, in April when the season is starting for more people. (Plus, they may have tax return money they want to spend on buying an RV.) Conversely, as a buyer, the winter months might be a great time to go shopping. If you’re selling, this would be the time to look through RV Trader to see what others are asking.
Step 5. Get Your Paperwork Squared Away
Required Documentation to Expedite Your RV Sale
Once the condition of the RV has been established — and you have a rough idea of the price based on the RV Trader and JD Power values — you’re ready. Now, it’s time for buyer and seller to come together. This is where it can get sticky. Everybody has a number in mind, but the benchmarks you’ve established should help. They create a realistic number that’s fair to both buyer and seller.
One aspect that can affect the price and success of the sale is how prepared the seller is. Having all the required documentation — including license, title information, and the status of any loan that may be on the RV — is important. If there is a loan on the RV, can the new buyer take it over? And, if so, what is the payoff amount? Is selling the RV contingent on paying off the loan? If there is a loan, the loan company is the one who is going to have possession of the title. So, know what it would take to get possession of this and how long.
Dealing with an Outstanding Balance on a Loan
Unfortunately, the outstanding balance of a loan the seller may have does not affect the value of the RV. Working at a dealership I saw plenty of people who owed far more than what the RV would reasonably sell for. As the seller. this is something to be keenly aware of as you will have to figure out how to overcome the difference in what the RV is worth today and what the balance of the loan is. Know that lending institutions also use the same resources to determine the value of a used RV. And they typically base the maximum they’ll lend for a unit on these numbers. So, if you’re way upside down, or owe much more than the RV is worth, you likely won’t be able to get back everything you owe on it.
If you’re the buyer, learn about any loan the seller may have on the RV. Then look at what it would take to pay that off and get title in your name. (Or in the name of your finance company.) On the subject of finance company, have your money situation sorted-out before going to buy the RV. Many local credit unions offer RV loans at relatively favorable rates. They can also assist in obtaining title and other detail aspects of the transaction.
Once You Know the Value of Your RV …
They say that whatever you’re buying or selling is only worth what you can get for it. And that’s true. But using the benchmarks from the valuators I mentioned and perusing listings here to see what others are asking can go a long way toward figuring out a fair price for that RV you’re selling or buying. And once you know that … well, that’s when the real fun begins.
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