Community Forums

timjet · 02-03-2023, 06:14 AM

I'm a bit confused. I've use J.D.Power's online valuation guide to get a ball park figure of what a 5th wheel is worth. But in shopping Mobile Suites DRV's it seems JDPower's valuation of these late model 5th wheel is higher than most asking prices. Conversely JDPowers's valuation of some late model Redwood's are much lower than asking prices.

I know asking prices are just that but I wonder why there is such a difference.

jacwjames · 02-03-2023, 07:02 AM

I think using comparable pricing is the best option, whatever rigs are priced at will better represent the market after including some sort of discount for negotiating the price. If you pick a specific model and start tracking over time you will see if there is any type of trend.

Lots of dynamics in the RV market now. Interest rates have to be affecting peoples decisions. Inflation may impact a families finances and squeezing them into selling. Uncertainty in the market. The number of new rigs sitting on lots and the deals that are being offered.

If you can afford to wait you can probably get a good deal if you keep your eyes open. In 2008 I bought a repo for ~50% of what it showed on NADA.

timjet · 02-03-2023, 11:23 AM

Jim, I think you're right, waiting may be the best path to take. I've noticed some folks are asking high prices and perhaps in a couple of months those asking prices may moderate.

TXiceman · 02-03-2023, 11:45 AM

We are trying to sell a 10-year-old higher end full-time rated 5er and the market is shifting downward on pricing. We are seeing people with a Chevette budget looking at a Cadillac range trailer. We have had offers that were an insult and told the shopper to keep looking for lesser quality trailers. Let them spend their money on newer cheaper built trailers.

Hang in there, a buyer will come along that is looking for quality and not glitz and bling.

Ken

timjet · 02-03-2023, 12:49 PM

Quote:

Originally Posted by TXiceman

Hang in there, a buyer will come along that is looking for quality and not glitz and bling.

Ken

Hi Ken, actually we are the buyers. With prices trending downward we will wait for a couple of months. There seem to be more and more for sale and they may be competing with each other.

We just sold our motorhome in late October sooner than we wanted. I think from a financial perspective it was the right move.

glwinger · 02-04-2023, 07:27 AM

A lot of people selling higher end RV's/TTs' are just trying to get out from under their 20 year loans. This happened in the first one or two years of the pandemic. People thought that buying an RV/TT was the way to allow them to continue with their vacations. That is until they realized how much work and extra expenses they were getting into and not knowing anything about the experience of camping.
It's not like walking into a motel with their luggage.

timjet · 02-04-2023, 07:32 AM

I have found that to be true of 2 RV's I'm interested in.
Both want to sell at a sell price that will pay off their loan. Neither according to JD.Power are close to average retail. How long they will wait until they realize that nobody is going to buy at their loan payoff is the question. And of course every month they wait the RV looses value and they make another payment, never to be recovered.

TXiceman · 02-04-2023, 07:59 AM

Quote:

Originally Posted by glwinger

A lot of people selling higher end RV's/TTs' are just trying to get out from under their 20 year loans. .

Not our case. The trailer was paid for with ca$h. The problem is they expect to buy a heavy high-end trailer for the price of a Dutchman and only have a 3/4 ton truck.

Good luck on your hunt.

Ken

jacwjames · 02-04-2023, 08:25 AM

Quote:

Originally Posted by timjet

I have found that to be true of 2 RV's I'm interested in.
Both want to sell at a sell price that will pay off their loan. Neither according to JD.Power are close to average retail. How long they will wait until they realize that nobody is going to buy at their loan payoff is the question. And of course every month they wait the RV looses value and they make another payment, never to be recovered.

When we bought our current coach we had a Class C that we put up for sale. We did not owe anything on it but we weren't going to give it away either. Fortunately we got a great deal on the Class A DP. Unfortunately trying to sell the Class C during the recession in 2009 took quite a while, I think ~7 months.

So I can imagine an owner with a 20 year payment plan trying to sell an RV they can't afford. It's a loose loose proposition and some will not want to accept the reality of the value of the RV.