You might be confused about the value that you can get from your RV, especially when you have decided to sell it. There are so many models with different features in the market and an RV is a recreational vehicle, which might be making it more difficult for you to estimate the price of your RV in the market. One question that might be coming to your mind while deciding to sell your RV is; ‘What’s my RV worth?’
Do not worry. We are going to provide you will all the information needed so that you can get a fair value for your RV.
Factors Affecting The RV’s Value
These are the following factors that affect the value of an RV:
Age and Model
If you are thinking; ‘what’s my RV worth?’ Then you have to consider the model and age of your RV. It is one of the important factors in determining your RV’s worth. Unlike cars and any other vehicle, an RV is nowadays purchased mainly for recreational purposes, and for that, the condition and features of an RV really matter. If your RV is in the right condition and the is a new model, then chances are high that you might get a fair market price for your RV.
Upgrades
As RVs are mainly considered for travel and recreational purposes, especially after covid-19 hit the world. It also depends on the new upgrades that you have done in your RV.
Size
If your RV is big in size, then you can consider it favorable for you. Because potential buyers usually prefer to buy an RV for enjoying their time with friends and family. The bigger your RV is, the better it is for them to have fun and comfort.
Mileage
If your RV gives low mileage, then this might affect your selling price. Buyers in the market demand RV having high mileage so that they can also save their mileage costs.
Insurance
You can provide a better deal to the buyers if you have insurance coverage for your RV. This will make sure that you have protected your investments in the RV in case of any damages or accidents. Some buyers not only look at the purchase price as the value but also the insurance coverage as an add-on.
Finding The Market Value Of Your RV
If you don’t have an actual idea/estimate of the market value of your RV in mind, and you are thinking, ‘what’s my RV’s value? Then before accepting any offer, you must have an idea about the market price of your RV. Otherwise, you may easily accept an offer at a lower price. Here are the ways through which you can get an idea of the market value of your RV:
RV Price Guidelines
When you are planning to put a price on your RV, then you must look for the price guides. These books are available online as well as in bookstores. Not only it contains the price ranges of a particular camper model, but some also place their valuation after the depreciation rate estimate from the MSRP of a new RV. You can also check out websites like the NADA Guides, for more such information. These guides can give you an estimate of all the other factors and information related to the pricing as per the model, upgrades, size, mileage, etc.
Comparing Prices Through Online Sales Information
You can look for online sales information on the prices of campers and motorhomes from websites like eBay. You can filter the information by choosing ‘sold listing’. This will show you the information about the camper of your interest which is recently sold. You will get an idea about the selling price, the location to which the camper is sold, etc. By this, you might estimate the current value that people are willing to pay, the location where there is high demand, etc. This may help you to sell your RV at a higher price.
You can also look at the sale sites online or from RV dealerships. Here the final price may be provided. Looking at websites like RV Trader is another way to check what is the asking price of other RV owners who have similar models.
Professional Appraisals
Another option is to pay a professional so that they can appraise your RV. So, instead of thinking ‘what’s my RV’s value? Get the value of your camper from them. However, this service can be expensive as it can cost you around $200 or more. You can take your RV to their shop. If it is a short distance, then they can also travel and come to inspect your camper. Based on the regional sales data and your RV’s condition, they will put a value on your RV.
Although it can be an expensive service, the benefit it provides is that there will be no bias toward your RV’s value evaluation.
Selling Your RV To A Dealer
No more pondering upon ‘what’s my RV’s value’? Then you should still continue to if you are planning to sell your RV to a dealer. It is probably one of the easiest ways but if the price is not estimated carefully, then this could become painful for you.
You have to make sure not to get into the manipulation tactics and other ways that the dealers might use to buy your RV at a cheap rate. They have knowledge of the current market price and would consider profits from selling your RV to the buyers. The more discounted price they buy your RV at, the more profits for them.
So just be careful before deciding to sell your RV to the dealer. Be prepared with all the information related to the market price and factors related to the market price of your RV.
Conclusion
Before you decide to sell your RV, be sure that you know the market value of your RV, or else you might sell your RV at a lower value. Looking for the RV price guidelines available online and offline, comparing the sold listings and other sales information available online, or hiring a professional can be some of the ways to estimate the value of your RV.
A professional appraiser can appraise your RV without any bias and will also look at your RV’s condition with proper inspection before setting your RV value. You can also sell your RV directly to the dealer.