Ways to Determine the Value of a Used RV
Updated on June 11, 2024 / 4 min read
When planning to sell an RV, the first thing to do is find its true value. Naturally, an over-valued RV won’t find any buyers, and if it is underpriced, it will scare off potential buyers as the too-good-to-be-true price often creates suspicion. Besides, not asking enough means leaving good money on the table. Unfortunately, many RV owners do not know where to turn to assess the true value of their motorhome or trailer.
Factors that determine the RV’s value
- Make, model, and year: Top-rated, newer models fetch higher prices.
- Vehicle size: Big RVs are valued more than smaller ones.
- Mileage: Low mileage is preferable and increases value.
- Condition of engine and transmission: Well-maintained parts add value.
- Interior configuration and condition: Updated and well-kept interiors boost value.
- Extras included: The number and quality of extras impact the overall value.
These are the key factors buyers and sellers consider when assessing the value of a used RV.
Kelley Blue Book to determine the value of used RVs
Companies like Kelley Blue Book are famous for offering valuations of traditional auto vehicles. They have an extensive used car value database that covers multiple factors to determine the vehicle’s value.
- Local market conditions
- Condition of the vehicle
- Mileage
- Make
- Model
- Optional features
Based on the Kelley Blue Book value, one can accurately determine the expected price when buying or selling a vehicle in their area.
Unfortunately, Kelley Blue Book does not have a dedicated valuation service for used RVs on its printed guides or websites. So, if any potential seller searches for “current blue book value of my RV,” they may be disappointed. But there are multiple other resources for knowing the value of used RVs.
Alternative resources
While the Kelley Blue Book does not have a valuation service to determine the value of a used RV, alternative resources can be used to determine the value of a motorhome.
1. NADA guides
NADA, or the National Automobile Dealers Association, is one of the top options for determining the value of used vehicles. While it is the most reputable source for assessing the value of cars, one can also use NADA to determine the value of an RV. With NADA, one can find the valuation for used as well as new travel trailers, motorhomes, campers, and fifth wheels.
NADA’s online platform is user-friendly. It enables users to quickly and easily input the details and get an apt valuation of their RVs.
- Visit NADA’s RV value home page and select the RV type: motorhomes, travel trailers, truck-top campers, camping trailers, or park models. NADA also offers tow vehicle valuations.
- For motorhomes, choose from a list of manufacturers. Pick from popular RVs or browse a comprehensive list in the drop-down menu.
- Filter models by year and style, showing or hiding specs like length, design, and floor plan.
- Enter the zip code to account for location-based trade-in values.
- Add or skip optional features like HVAC units or upgraded appliances to adjust the value.
- NADA will display suggested, average, and low retail prices, helping the buyer or seller set prices or evaluate potential RVs.
2. Local RV dealerships
Another way to ensure a reasonable value for the RV before buying or selling is to contact the local RV dealerships. One can contact the nearby dealers and compare the RV’s price with the current real-world pricing.
Dealerships have a thorough insight into the market trends. So, they can offer an accurate valuation based on their expertise and selling experience. Though this approach requires some legwork, it is beneficial when selling the RV or considering trade-ins. That said, one must always get a few different opinions before zeroing in on any offer.
How does the value of an RV depreciate?
Like every other vehicle, the value of an RV does not appreciate. When driven off the lot, the new RV value takes a significant hit. This depreciation continues for the rest of the RV’s life. So, naturally, when one buys a used RV, they pay less than they would for a new one. On the contrary, when they sell the RV, they barely get anything close to what they initially paid for the RV while it was new. That said, revamping the interiors and ensuring the mechanics are in superior condition will increase the value.
The extent of depreciation on the RV varies depending on multiple factors.
- The miles it has driven
- Condition of the interiors and systems
- Type of the rig
Experts suggest an RV loses 20 percent of its value in the first year, but the depreciation slows afterward. By the end of the second year, the RV has lost 23 percent of its value. This increases to 28 percent and 35 percent by the end of the third and fourth year, respectively.
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