Monaco RV pricing?

[Badbolr]

Hi everyone. New to the forum. Got into RV’ing last April. Sold my house in August and been full time RV since. Thought about buying a Class A when I bought the trailer but talked myself out of it.

Well, after the past months I have decided to sell my trailer and buy an older Monaco 2000-2007, 40ft. I’ve bought plenty of used vehicles in my life, including the trailer, but I’ve NEVER seen pricing be so off from NADA/blue book as they are for these units….

Using all the features listed in ads and pricing with those instead of baseline I have yet to find ONE unit that lists a retail price over $45k. Yet private party sellers are asking $50-75k for their Monaco units for the model years specified herein. And not all of these are in ‘excellent’ condition. Can someone explain this to me?

Even dealer units are priced significantly lower than private party. I’ve never seen a market quite like this. Lastly, it’s not like they are selling either. Most units have been for sale for months so I’m just real confused on pricing.

I’m not trying to buy something then immediately be 50% upside down…

I appreciate any education you can provide.

[wog099]

I'm no expert in pricing RV's, but for the last two years or so the prices of used and new have skyrocketed to astronomical levels. Owners who bought during the pandemic high prices want to sell high and those who owned RV's before the high price rise want to cash in on the euphoria that was driving the market. Some people are of the opinion that during this year you will see those sell prices drop below NADA values. That seems highly possible in my opinion, for what it's worth.
Thanks

[8.3Oilbuner]

Hi Wog099; Here is my opinion. It's a crap shoot!!! I have really never paid much attention to NADA except as a guide???? Lots of us here with Monaco coach's, different years and models and if you asked each one of us how did we fair on the price we paid for our coach you can guess how all the stories will play out. I have been watching for years the supply of Monaco coaches for sale and, to me, the supply is not as high as it used to be. I think in your looking for a Monaco coach you have to look a lot of what is out there, what model you are looking at and how much supply is there. Next is condition. If you look long enough you will see it all. I did when looking for my Monaco. I saw the whole range from junk to yeehaw, this is in great condition and so reflects the asking price. The 2000 to 2007 are some of the best year-built coaches. I personally think it's just going to take you a little time to check out the model you want and start checking price and availability. As you gather info I think you will get closer to knowing what the price ranges are.

I think in the current market as it is, I don't think you are going to find a good, printed guide to go by. This is just my 2 cents thrown in. Probably not much help. I did my best. Hope you can find something to your liking and good luck in your search.

[Argosy]

Throw in high fuel prices. A lot of people who bought during the pandemic are having sticker shock with the cost of ownership. If they financed they're looking at buying high and selling low. To complicate the picture I heard fuel prices have bottomed out and will be on the way up very soon. That will make some owners more willing to negotiate if they have the ability.



Monaco is good, but not the only good brand. If you expand your search you'll have a better opportunity to find a deal.

[RV_Lee]

Prices should already be dropping quickly now, I know new units are and used will follow. Also, if you are after the quality of an older Monaco you can also look at Holiday Rambler as they were basically the same thing back then (not anymore). Country coach, Safari, Beaver etc are all up there too.

[gsgriffin]

I personally think you are looking in the right direction. When I bought my Monaco 6 years ago, I was looking in the exact same price range. I bought it from a second owner. I'm still very happy with the overall quality and use. I've personally met too many brand-new coach owners that are ticked off at how much time their unit spends back at the manufacturer or dealer getting repairs. I've done everything needed on my older coach for a fraction of the price in little time.

When I bought mine 6 year ago, the exact model and year ranged from $55k to $120k. Some were super clean, low miles, well maintained, like new. Others were beat up, high miles, needed a lot of work. Blue books can't deal with this kind of range.

I would encourage you to focus on floor plan. In real estate, it is location, location, location. I would propose that once you have the make and year, it is then floorplan, floorplan, floorplan. Since you have been in a trailer for a year, think about what you would want to have different for the next 10 years of your life. How do you use it? What would you need more of?

I had a friend with a same-year Beaver as my Monaco. Lots of nice upgrades on his rig, but a lot less storage underneath. His fancy features started to misbehave (like his auto-locking slideouts started to open while driving down the road). He towed a full-size truck full of everything he needed. I have plenty of space in my basement with a full-sliding tray. I also get up early to work while my wife sleeps, so I ended up focusing only on the DST model in the 2003-2004 years (because of price back then). It's a 1 1/2 bath with the half in front separating the bedroom with a door. Have my space all morning without bothering the wifey.

I looked all over the country and finally had to fly to Palm Springs from Montana in order to get the exact one I wanted. I would personally encourage you to do what it takes to get the right model in the right condition over focusing solely on price and getting what it right next to you. My two-cents.

[markpj23]

Brett from NIRVC wrote an interesting thread not long ago. Here are a few excerpts related to used RV pricing:


"3. Most importantly, how much will the coach sell for in the used market when you get ready to get a new coach, or exit the lifestyle? Over the last 13 years we have created our own proprietary database across over 10,000 used coach sales, and I don’t want to give up anything proprietary here in this post. But, I will say this; the delta between manufacturers for the same class coach varies from 17% below book value, to 28% above book value in the used market. And, I’m talking about the actual process they transact at. For this reason, purchasing a used coach can, and is far more treacherous than purchasing a new. Remember, NIRVC sells both new and used. I’m merely stating facts, and providing real data points. No opinions in the numbers. "


"The used market is very opaque, and the consumer doesn’t have access to any of the data that really matters when making a buying decision. There is no Edmonds for coaches. There’s a reason dealers gross profit margins on used coaches average over double what their margins on new coaches. And, everything advertised on RVTrader is by definition, everything that hasn’t sold. And, “For Sale By Owners” tend to tether their advertised price to what they owe on the coach, and not what market is, which in turn gives dealers a lot of upside “cover” in what they can now advertise their used coaches for. But, ultimately the market is limited by the retail lenders who will only lend XX% over wholesale book value. And, the book value consumers see on the internet isn’t even close to the book dealers and banks use. You have to be a bank, or have a dealer license number to even subscribe to the NADA Book. It’s just one more reason among many that purchasing a used coach can be very treacherous."

[Orrin]

I have worked in the wholesale auto market for 25 + years. We are in a downward sliding market. It is tough both financially and emotionally for sellers to stay ahead of the curve.

I made fantastic money during the Covid car shortage. That is not happening anymore. Brett is correct in saying that many used sellers value their car or coach by what they owe on it and cannot afford a short sale. This when the books and guides get all out of wack.

Just be ready to jump when the right one comes along. Condition is everything. Just remember, "I will buy it today for $$$", goes a long way.

[Badbolr]

Appreciate the feedback. Pretty much what I was thinking given my history with used cars and cycles. It just comes down then to overpaying or not. I agree with the comment on floor plan being important and I’ve found a couple that have a floor plan more suitable for my needs.

However the delta in asking versus what I’m willing to pay is pretty great. You don’t typically have to offer a guy well below asking on a car. Both of you pretty much know the value so it’s just haggling over 10% or less if both parties are informed.

Here though, the gap is HUGE. And yes, some of that is because current owners are upside down in a loan. But as a buyer, I can’t see taking that on for them. Even if I say I’ll give you cash today, the gap is so large between the NADA numbers I can access and the asking, it’ll be insulting to the seller.

It doesn’t seem to make financial sense to me unless I just value ‘having it” over actual value. Obviously that’s an approach, but not typically how I spend. That would be like paying $500k for a house I know is only worth $400k just because I want it….

I may have to wait a while and let the market shake out some more.

Thanks again!

[shootist]

Originally Posted by Badbolr

Hi everyone. New to the forum. Got into RV’ing last April. Sold my house in August and been full time RV since. Thought about buying a Class A when I bought the trailer but talked myself out of it.

Well, after the past months I have decided to sell my trailer and buy an older Monaco 2000-2007, 40ft. I’ve bought plenty of used vehicles in my life, including the trailer, but I’ve NEVER seen pricing be so off from NADA/blue book as they are for these units….

Using all the features listed in ads and pricing with those instead of baseline I have yet to find ONE unit that lists a retail price over $45k. Yet private party sellers are asking $50-75k for their Monaco units for the model years specified herein. And not all of these are in ‘excellent’ condition. Can someone explain this to me?

Even dealer units are priced significantly lower than private party. I’ve never seen a market quite like this. Lastly, it’s not like they are selling either. Most units have been for sale for months so I’m just real confused on pricing.

I’m not trying to buy something then immediately be 50% upside down…

I appreciate any education you can provide.

You are not reading the nada guide correctly if you think a 2007 Monaco is a 45k coach. Maybe a 2000 in worn out condition. Monaco's dropped dramatically when they went bankrupt. Then people figured out these aren't cars, most all of the systems are the same as any other coach. Prices started rebounding in 2019, then covid hit and everything went up. Now with inflation raising the prices of new coaches into the stratosphere and all the smog equipment related failures the older ones are naturally more desirable. Don't expect the bottom to fall out soon.

[Badbolr]

Been reading Kelly and NADA since they went online and even when it was an actual book, so pretty sure I’m reading it right… Not rocket science.

I didn’t specify the model year I booked out, but in general no model year I checked between 2000-2008 matches asking values. Not by a long shot.

Guess we’ll see what we see

[Ben-Jo]

I guess you saw the 2004 Monaco in the classified on this forum.

[jacwjames]

Originally Posted by Badbolr

Appreciate the feedback.
I may have to wait a while and let the market shake out some more.

Thanks again!

This is a smart move especially in the current market environment. Things will be changing fast.



This is basically what I did back in 2008 when the whole RV industry was shaken with bankruptcies and shutdowns. Not only in industry but in the private market. There will be an opportunity for finding a unit for a good price. I paid ~50% of what the retail value was. My rig was a repo, it was in very good condition and I lucked out, just happened to see it listed in FL while on a trip down there and went to look at it. Went home, thought about it for ~4-5 days and decided to make an offer that was accepted.



So my advice is to keep looking, learn what the current values are for the rig(s) you are interested in, take your time, and things will work out.

[Badbolr]

I didn’t but will look now. Thank you