Knowing how much your RV is worth can be frustrating and confusing if you’re an RV owner. Most RVs are challenging to evaluate as they were designed for maximum function with minimal compromise. As a result, the actual value of an RV can only be estimated after many hours of research and estimation.
How Do I Know What My RV Is Worth?
Unfortunately, evaluating a motorhome is different from evaluating a car. With cars, you can see what’s under the hood, in the trunk, and in the cabin-the basis of estimating the value. The actual value is challenging to determine in RVs mainly because we need to evaluate them with our eyes! Most makes and models use extensive design concepts that conceal valuable details from amateur inspection. So, here are the things to consider to know how much your RV is worth and how to sell your RV:
1. Date of Manufacture
The production date of the motorhome is significant in establishing value because it indicates its vintage. The vintage year is usually characterized by the style of the body and options.
2. Type of Body
The type of body the motorhome has is essential in evaluating value. The tall RVs tend to be more expensive than the short RVs. However, the old, rounded-corner motorhomes are still valuable compared with the newer, streamlined models. Also, some RV manufacturers discontinued certain types of bodies before others.
3. Model Years
The model years of RVs can affect value. The highest values are found in late-model RVs made in 1992 and later—vehicles with body styles and options specific to that year. The older the model year, the lower the value. The look of a particular RV can affect value too.
4. Configuration Levels
In some cases, configurations can have a significant effect on value. For example, side-impact airbags and air conditioning affect worth differently than other options. In addition, specific options are more common on certain models, thus affecting price and logistics, and demand requirements.
5. Size and Financing
There’s a direct correlation between size and selling price. The larger the size (length, width, and height), the higher the selling price. Financing also affects pricing; financing options can increase or decrease the selling price of a motorhome quite a bit.
6. Condition of Vehicle Body/Interior
The condition of the vehicle’s body/interior is essential in determining what that vehicle is worth. Older models are considerably less when the body/interior is in poor condition. Therefore, there is a close correlation between the price of a used RV and the age of the RV’s body/interior.
7. Meaningful Options
Options add value to an RV. It’s common for specific opportunities to demand a higher selling price than others, such as air conditioning versus microwave ovens, rear entertainment centers, etc. These options can improve the overall sales success rate in many instances.
8. Mileage
Most RV owners recognize that the longer the motorhome has been on the road, the lower its value. There is a direct correlation between mileage and sales price. A motorhome with more than 100,000 miles is worth less than one with fewer miles.
9. Location of Sales Event/Exposure to Market/Successful Sales Environment
The location of an RV sale can positively or negatively affect its overall success rate. For example, the RV dealer may have a higher price than a private party if they’re more likely to sell the RV. Some dealers may even discount the selling price of an older model in hopes of getting rid of it.
10. Warranty and Repair Records
You can use warranty records to evaluate the thought process of an RV manufacturer regarding quality control. It is logical; manufacturers try to avoid warranty repairs by making warranties short-term and inadequate.
The Bottom Line
There are a variety of ways to market your RV. The most important thing to remember is don’t try to sell it yourself; instead, use a professional marketing firm specializing in selling RVs. An RV broker should help you determine the best options for selling your motorhome.
Value is in the eye of the owner. The only way to get an actual market value for any used RV is with a buyer. However, an educated owner has a better chance of achieving the maximum value for their RV when it’s time to sell. Knowing how much your RV is worth is just one step toward selling it successfully.