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Old 09-05-2016, 09:59 PM   #1
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Question RETURNING USER - Are NADA Values Ever Wrong?

I was a full-timer for 10 years from 1993 to 2003, then I sold my rig and settled down. Now I'm looking to buy another rig (used) for part-time recreational use.

There is a 2010 Fleetwood Terra 34B for sale by owner that I am quite interested in. This rig has the premium package with full paint, solid counters, soft ceiling, king bed and a slew of other optional items.

When I look up 2010 Fleetwood Terra 34B in NADA, I get an option to pick either the LX model or the Premium model. There is also a link for Ford vs GM. The rig that I am looking at is a Workhorse/GM 8.1L setup. If I select the "Premium" pricing, it SHOULD be significantly more than the LX pricing. Instead, the premium is a few thousand less! How can it be? Does NADA make mistakes? If so, how do I sort that out for getting a loan based on NADA value?

THANKS!!
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Old 09-05-2016, 11:47 PM   #2
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How is asking price in comparison to what NADA suggests?

NADA is more RETAIL pricing vs private party

Check RVTrader, Craigs List etc for comparable pricing to what seller is asking

Use comps for loan info......
Loan company is going to use THEIR info regardless
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Old 09-06-2016, 08:18 AM   #3
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Hi Michael! Welcome to IRV2! We're sure glad you joined the gang!

Hope you find the perfect rig for your needs!

Good luck, happy trails, and God bless!
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Old 09-06-2016, 10:37 AM   #4
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Originally Posted by MSHappyCampers View Post
Hi Michael! Welcome to IRV2! We're sure glad you joined the gang!

Hope you find the perfect rig for your needs!

Good luck, happy trails, and God bless!
Thank you! I was a forum member back then. My user ID still worked after all those years, but needed a password reset. However, any posts I made back then have dropped off, so I am appropriately a noob all over again.
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Old 09-06-2016, 10:48 AM   #5
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Originally Posted by Old-Biscuit View Post
How is asking price in comparison to what NADA suggests?

NADA is more RETAIL pricing vs private party

Check RVTrader, Craigs List etc for comparable pricing to what seller is asking

Use comps for loan info......
Loan company is going to use THEIR info regardless
Hi OB - thanks for the reply! The asking price is $74,900. OBO. Comps seem to support it for similar rigs, floorplans and options. However, the "Premier" value provided by NADA is just $55,000 whereas the "LX" value from NADA is $59,000! I verified by brochures from Fleetwood online that the Premier model is a higher level than the LX model.

I tried pricing out NADA using a "work around": I started with the LX value, then added as many options as showed up in the option list. It's amazing how many were missing from the list. For the few options that I was able to select, it brought the price of an LX up to $82,000, so it supports the asking price.

The main reason I was concerned about the NADA value is that most loan companies state in their overview of RV financing that they use NADA values. I wish I knew why NADA gave a better coach a lesser value than it's basic brother. The only two things I can think of is:

1. They made a mistake
2. There is a serious problem I don't know about

That makes me a bit uncomfortable.
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Old 09-06-2016, 11:15 AM   #6
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Looks to me like either they have the LX and Premium model values switched or you are mistaken as to which one is the better unit as they rate the 36T Premium values lower than the LX also.
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Old 09-08-2016, 09:59 PM   #7
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Looks to me like either they have the LX and Premium model values switched or you are mistaken as to which one is the better unit as they rate the 36T Premium values lower than the LX also.
I've searched and searched. The best I can come up with is that the LX and Premium models are both upgrades from standard and share similar options. Apparently the LX is the higher level, but Fleetwood doesn't make it very clear.

Both are priced very low in NADA for used models, so there must be a lot of treatments that are considered options. Otherwise, the 2010 and 2011 rigs I've been looking at in the $75,000 range are woefully overpriced!
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Old 09-10-2016, 12:54 PM   #8
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While banks and CUs may use NADA for loan approvals, your best bet to get a value on a used RV is research--as mentioned, Craigslist; RVTrader. My favorite, tho, is PPLMotorhomes.com--they handle used RVs on consignment and move a lot of them. If you find enough of similar models, you can soon get a feeling for where the unit you are looking at fits in.
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Old 09-10-2016, 01:39 PM   #9
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While banks and CUs may use NADA for loan approvals, your best bet to get a value on a used RV is research--as mentioned, Craigslist; RVTrader. My favorite, tho, is PPLMotorhomes.com--they handle used RVs on consignment and move a lot of them. If you find enough of similar models, you can soon get a feeling for where the unit you are looking at fits in.
Joe
Excellent! Thanks!
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