To sell a recreational vehicle (RV), one needs to know its true value to avoid overvaluing or undervaluing it. The key issue with not knowing the value is that an overvalued RV won’t attract buyers. On the other hand, an undervalued RV can make potential buyers feel uncertain about the “too good to be true” pricing, preventing them from buying it. So, it’s important to determine the correct value of an RV.
Factors that affect the value of an RV
Often, people look up online for queries like, “What influences the current value of my RV?” Well, there are multiple factors that affect the price of a used RV . So, to know the precise value, one must consider certain aspects.
- Top-rated, newer RV models command higher prices based on their make, model, and year.
- Vehicle size influences its value, with larger RVs typically fetching a higher price.
- Low mileage is desirable, so it enhances a vehicle’s value.
- Well-maintained engine and transmission conditions contribute significantly to the RV’s value.
- Updated and well-kept interior configurations positively impact the overall worth of the vehicle.
- The presence and quality of included add-ons can affect the total value of the RV.
What is Kelley Blue Book value?
Kelley Blue Book is one of the most popular tools for determining the value of vehicles. The platform has an extensive database of used car values and it assesses the vehicle based on multiple factors.
- Condition of the vehicle
- Local market conditions
- Model
- Make
- Optional features
- Mileage
Based on this Kelley Blue Book value, people can accurately assess the amount they can expect when selling a vehicle in their vicinity. That said, one cannot directly find the used RV price on the Kelley Blue Book platform because it does not have a dedicated “find my RV value” service on its website or in the printed guides. There are plenty of other resources for users to know the values of their used RVs.
Ways to find the current value of an RV
Marketplaces
In addition to the RV-specific marketplaces, one can explore the general marketplaces with RV categories. The combined search can help the buyers have a well-rounded view of the prevailing market prices of used RVs.
Professional appraisal companies
These companies offer a non-biased appraisal value for the RV. They take into account and examine the RV’s features and condition up close. Approaching professional appraisers can be an excellent alternative to knowing the high-end RV value or the values of RVs with distinct features or retrofits that may not have many online comps.
Local dealers
Like an appraiser, reaching out to local RV dealers can also be an excellent resource for knowing the value of a used RV. Contrary to the appraiser, the dealers do not charge for these insights. Moreover, choosing to sell the RV instantly to the dealer after knowing the price can be the easiest alternative. But one must always inquire about other options before taking the call. The dealer may offer some alternatives.
- Direct sales
- Trade-ins
- Consignments, wherein dealers sell the RV on the customer’s behalf and charge a commission on the sales
Dealerships are well-versed in market trends. So, they offer an accurate value based on their selling experience and expertise. While this alternative needs some leg work, it is a good option for customers considering trade-ins or selling the RV directly. That said, it is best to get different opinions before closing the deal.
What is the depreciation on an RV?
RV depreciation works like every other automobile. So, when picked from the lot, a new RV loses a chunk of its value. This decline in value continues throughout the RV’s life. So, when customers shop for a used RV, it is more affordable as they pay relatively less than its actual value.
Likewise, when a customer decides to sell their used RV, they won’t get a price close to what they initially bought the RV for. Typically, the resale values for the RVs are primarily on the lower end of the spectrum. So, it helps to revamp the RV before the sale to enhance its value. One can work on the interiors to make it more appealing. Likewise, checking the engines and the other parts to ensure they are all in proper working condition adds to the RV’s value. Regardless, both the seller and the buyers must be realistic when assessing the value of the used RV.
Broadly, the depreciation of the RV depends on certain factors.
- Rig type
- Condition and upkeep of the systems and the interiors
- Miles driven
According to the experts, most RVs lose 1/5th of their value in the first year. Following this, the depreciation slows down. By the end of the second year, the RV’s value is down by 23 percent in total. This number is 28 percent and 35 percent by the end of the third and fourth years, respectively.
So, one should accurately assess the value of the used RV to get the best price.