When it comes to buying and selling, the buyer wants a good deal and the seller wants to sell it for a good price. Here are a few tips to help you meet in the middle and walk away with a smile:
TIP #1 | Get it inspected! I know, you’re saying of course an RV Inspector would say that! It really is a valuable tool that helps you know the true condition of the RV and therefore it’s potential value.
TIP #2 | Know the NADA Value of the RV before you make an offer. The National Automotive Dealers Association [NADA] has a website that will give you a low-mid-high range on the value of any vehicle. If the RV has a diesel engine, the value is not affected by the mileage. If it has a gas engine, you will want to enter the mileage of the RV because this can greatly affect the value. Once you know the high and low value the RV should sell for, you will be more prepared to make a reasonable offer. Visit NADA.COM to get started.
TIP #3 | Have Your Financing in Place. In other words, if you’re planning on financing your new RV, then get preapproved by the lender of your choice. Check interest rates with various lenders too! Keep in mind that the older the RV, the harder they are to finance. RV financing is much different than buying a car. Now-a-days most car loans have a term of 6 to 7 years, less if older. With RV’s, the financing term could be as much as 20 years on a newer RV. Financing a RV is more like buying a house than a car. In a seller’s market, being preapproved can make the difference when there is more than one potential buyer.
TIP #4 | Know When to Walk Away. Decide ahead of time what your ‘no goes’ are. It’s very easy to get emotionally attached to purchasing an RV. Determining your ‘no goes’ ahead of time keeps you from making an emotional decision that you’ll possibly regret later.