In this current climate of pandemic and shutdowns, you may plan to buy an RV and hit the road when it’s all over. If so, you’re probably wondering about the average price of a used RV.
There are many things that determine this. The current Coronavirus situation is certainly affecting values, as buyers remain silent throughout the country. If you do your research properly you’ve already consulted the values of various recreation vehicles in both Kelley Blue Book and NADA Guides.
These used RV price guides are not the final word on pricing, however. Market conditions weigh heavily just like they do for national automobile dealers.
Let’s take the factors one by one to see just what really determines a used RV’s value.
- Condition. Clearly this is obvious. The way a model presents itself is the first thing a buyer looks at and consignment dealers know this and set a sale price to reflect it. Things like rust patches, torn upholstery or scratches in woodwork are something the seller may not notice anymore but a buyer does.
The overall general condition is taken into account. Mileage, wear and tear on vital systems, maintenance records and functionality of special features are also considered.
2. Availability. Good old supply and demand apply here like they would with any other product and it affects the real number of RVs for sale. If, due to the current virus pandemic, people have decided to hang onto their rig for personal reasons like family shelter or lending to a local hospital, the available models could be in short supply. It really depends on which model you’re after.
A Class C motorhome might be easier to find than say that sexy Class B RV you’ve had your eye on. There are also models on the market called orphans that are priced more favorably. An orphan occurs when a manufacturer discontinues a certain model or gets sold to another company which then stops production. Servicing on them will dwindle and so will available replacement parts.
3. Trends. Years ago the showcase Class A motorhomes were all the rage. In later years the smaller Class B, built on Mercedes or Ford Transit chassis are the most sought after model type. Camper vans, converted vans and camper trailers are also wildly popular right now. You can save a lot of money working with a used RV dealer near you that can locate a used camper van or travel trailer perfect for your RV lifestyle.
Downsizing baby boomers love them for their maneuverability and Millennials love them for their size and built-in amenities. Hence, the drop in market price of the Class A comparatively speaking. Small motorhomes are the trend right now.
In conclusion – The 3 questions to ask yourself when evaluating a used RV’s price are: Is it in great condition? Is the model scarce or readily available? Is it a trendy, after sought model? Once you’ve answered these questions you’ll know if it’s a great deal….or not.