One of the benefits that makes living in an RV so affordable is that they are an investment. Unlike when paying monthly rent, an RV can yield some return down the road if you decide to sell it. With reasonable financing options and plenty of great used RVs to choose from, payments can easily be comparable to monthly rent, and once you pay off your RV, you’ll have a residence that you own and that can reap a monetary return in the future. Whether you’re thinking about selling, upgrading, or making a new purchase, knowing the value of your RV can be useful. So, do you know how much your RV is worth?
Online Price Guides
The Internet offers a range of resources that are useful when trying to determine how much your RV is worth. Popular sites include NADA and RV Trader. With these sites, you can input your RV’s make, model, year, etc. You can then select any customized options that are included on your rig, which will adjust the estimated value. With online price guides, it is important to remember that they are just that: guides. They are estimations, not promises, so don’t take them equivocally. Some users complain that these resources set unrealistic expectations of profit, so pay attention to all of the numbers they provide for you, not just the high-end retail value. For example, on NADA they supply an average retail value, a low retail value, and a suggested list price. Take all of these estimations into consideration when determining how much your RV is worth.
Another effective way of determining a fair market price for your RV is by looking at what other people are actually selling similar units for. eBay is an awesome resource for finding comparable units, and because you can search completed listings, you can see exactly what they sold for. Using this method will give you a feel for the real consumer market, which is ideal because in the end, your RV will be worth whatever your buyer is willing to pay for it. You can make price comparisons on other classified sites like Craigslist and RV Trader, although with these you will really only get a feel for what sellers are asking for, rather than what sellers are receiving. You might also have to factor in any customization differences, as your RV may not exactly match the one in the listing.
So, how much is your RV worth? Ultimately, it’s worth whatever you sell it for. One potential buyer could value it higher or lower than another, so the answer is going to be subjective. Keep depreciation in mind and be realistic about the condition of your rig because you won’t find too many buyers who are willing to overpay. If you use the resources we’ve discussed in combination to gain a better idea of the value of your RV, then you should be able to find an agreeable buyer without feeling like you are being undersold on your investment.
What price guides do you find to be most accurate when estimating the worth of your RV? Let us know in the comments!