What is the Trade-in Value of My RV?
What is the resale value of my RV? What is the trade-in value of my RV? These are some of the common questions in the minds of those considering selling their RVs. If you want to sell your RV but are unsure of the right listing price, this article is for you. Read on to learn how to determine the value of your RV.
Whether you are trying to buy or sell an RV, you probably want to know it’s value. Knowing the value of an RV want to sell or the value of one you are interested in purchasing is the best way to ensure that you are getting a good deal. A great place to find this information is through NADA. NADA offers new and used prices and values of RVs.
Factors That Affect the Value of Your RV
Generally, recreational vehicles drop in value with each passing year. Studies show that RVs depreciate about 25-26% only three years after their date of manufacture. The older your RV, the lower its value will be.
The size of your RV also affects its value. A huge, hulking Class A motorhome will often fetch more than a small truck bed camper.
Number of Slide-outs
Your RVs value may increase or decrease depending on the number of slide-outs it has and the prospective buyer’s needs and preferences.
Mileage is another major contributor to RV depreciation. A high odometer reading can negatively affect your RV’s value like regular vehicles. The more miles your RV has covered, the more wear and tear it has undergone.
Years of use can leave your RV with dirty flooring, faded or peeled exterior and interior paint, worn furniture, and faulty slide-out motors, among other age-related issues. If the new owner needs significant repairs or upgrades on the RV, you should expect a lower resale value.
How to Determine the Value of Your RV
There are several ways to answer the question: What is the value of my used RV?
- Using RV price guides found online or in bookstores
- Searching online for comparable selling prices
- Professional appraisal
Using at least one of these methods is an excellent way to determine the value of your RV. The more data you have, the easier it is to come up with a realistic value. However, professional appraisers would give you the most unbiased appraisal for your RV.
These professionals ask specific questions about your RV to get the clearest picture, then use their industry database to determine your RV’s correct valuation.
After a few days, they will advise you on the right price to list your RV for sale. This option is ideal for higher-end RVs or RVs with special features that may not have many online comparisons.
Dos and Don’ts of Selling an RV
You should keep several things in mind to avoid costly mistakes when selling your RV. You need to advertise your RV everywhere to increase the chances of getting a buyer quickly. You should not hide any damage or defects on the RV.
Make sure you take detailed photos to help the prospective buyer decide whether the RV suits their needs. Don’t play tricks on your buyers. List the RV at the right price; guessing the cost will work against you.
What is NADA, anyway?
NADA or National Automobile Dealers Association offers consumers a guide that provides information about vehicle pricing for new, used, and classic automobiles in addition to motorcycles, boats, recreational vehicles, and manufactured homes.
NADAguides.com was launched in 1998 to provide consumers with values, tools, products, and services to assists automotive, marine, powersports, recreation vehicles, and manufactured housing shoppers during their research and decision-making process.
Using the NADA guide can be a huge resource for RV shoppers. Many dealerships don’t want consumers to use or even know about NADA as it allows them to overprice their merchandise, but it is important to have this information when shopping for an RV. Not only does NADA guides provide prices and values of new and used RVs, but it also includes specs and photos.
NADA guides is known as being the leading provider of vehicle pricing and services to consumers, but in addition to that, it is also the largest provider of vehicle data and information to the nation’s leading banks, credit unions, fleet and lease organizations, dealers, insurance companies, government agencies, and financial institutions.
So, how do you use NADA to sell an RV?
Make your way to the NADA RV pricing guide. This guide allows you to enter the make, model, year and other details of the RV you are selling, and it will provide you with the vehicle’s suggested list price as well as the low and the average retail price.
When selling an RV to a dealership, you should expect to get a price near the low average. Since dealerships need to make a profit when reselling the RV, this is the price point they will most often reference.
NADA, as well as the dealership, will base the price of the RV on age, condition, options, mileage, and whether or not it is motorized. All NADA prices assume that the RV is in good condition and in proper working order.
How do you use NADA to buy an RV?
NADAguides.com is the perfect place to start when researching RVs. Start by checking out all the purchasing resources offered. Once you have a few RVs in mind, make your way to the NADA RV pricing guide.
When using NADA to buy an RV you will enter the make, model, year, and details of the RV you are interested in. After all the information is inputted, NADA guides will provide the suggested list price, and the low and average retail price of the RV. When purchasing an RV you will probably pay somewhere between the low and average price depending on the vehicle’s condition. Also, keep in mind that some RVs are in more demand than others. If an RV is in good condition and everything is in proper working order, the fair price will likely be somewhere between NADA wholesale and retail price.
List, average, and low retail – What does it mean?
Below are the definitions of the suggested list, low retail value, and average retail value as explained by NADA guides:
“Suggested List — The value listed reflects the approximate price of the unit when it is brand new. The prices listed are furnished by the manufacturer and are assumed to be correct. The list price does not include freight charges.
Low Retail Value — A low retail unit may have extensive wear and tear. Body parts may have dents and blemishes. The buyer can expect to invest in cosmetic and/or mechanical work. This vehicle should be in safe running order. Low retail vehicles usually are not found on dealer lots. Low retail is not a trade-in value.
Average Retail Value — An average retail vehicle should be clean and without glaring defects. Tires and glass should be in good condition. The paint should match and have a good finish. The interior should have wear in relation to the age of the vehicle. Carpet and seat upholstery should be clean, and all power options should work. The mileage should be within the acceptable range for the model year.”
Are you considering selling your RV but still wondering about the value of your RV? Kirkland RV Sales can help. Call us today at (866) 710-0064 to get all the assistance and information you need about RV sales.
Whether you are buying or selling an RV, NADA is a great place to start. When selling or shopping for an RV, be sure to check the NADA guide before negotiating a price. But remember that this is only a guide, RV prices vary depending on condition, demand, location, etc. Here at Kirkland RV, we use the NADA guides as a price guide whenever possible.
If you are looking at buying your own RV, stop by and see us!