Why Right Now is the Best Time to Sell Your RV
Do you have an RV you’ve been thinking about selling? Are you interested in some tips on when and how to sell your RV? While many sellers wait until camping season during the summer, late winter and early spring actually offer the best opportunities to sell quickly and at a great price. With lower competition in the market and many buyers already planning their summer adventures, listing your vehicle now gives you a head start. Here are eight things to consider about the used RV market currently and why you should sell now.
It’s Right before Peak Season
Most campers go RVing during the summer. The weather is warmer, roads are not icy, and their children (if they have them) are out of school. But even though it is still cold in many places, have you considered putting your RV up for sale in February or March?
Camping might not be at the forefront of most people’s minds. But this is actually one of the best times for the used RV market. Since summer is the peak season for RVing, the buyers who plan ahead will already be looking for sales during the winter.
As a seller, you should plan ahead too. Don’t hesitate to list your RV months before peak season. The period of time from late winter into early spring is actually the best time to be selling. Here are seven more reasons why you should sell your motorhome now, instead of waiting for summer.
Tax Return Season
Some potential RV buyers may have been considering making a purchase for a quite a while. They are likely to spring for it now after their tax returns. These buyers have had some time to decide what they want, so they might be ready for a quick transaction. If they have more cash on hand, they may need to borrow less or be able to pay cash up front. This will also make the sale go faster. Don’t miss motivated cash buyers because you waited too long to list your RV!
This is also the season of tax returns. There will be a lot of people with some extra cash during this time of year, and they may want to spend it on an RV. You’ll want to get the vehicle you’re selling out there for them to see. Your RV might be just what they’re looking for.
Lower Competition
Selling your RV during the winter also puts you in a market with less competition. Most private sellers list their motorhomes during the months of March through May. Getting yours out there before or during March gives you a head start.
Your sale is more likely to go quickly and smoothly when you have less competition. Buyers have fewer options and probably feel less compulsion to shop around before purchasing. It can also result in a more flexible and relaxed selling experience, especially once you start negotiating with buyers and showing your RV in person.
More Negotiation Power
Because of the low competition, you can have more say about your price. Being one of the earliest sellers in the market gives you more power of negotiation. There won’t be as many cheaper options in front of your potential buyers during February and March.
However, it’s important to know when to be flexible when you’re negotiating and when to stick to your asking price. Here’s some tips to help you out:
If a buyer has valid concerns about damage to your RV or necessary repair work, you might want to drop the price for them. It will be difficult to get high offers on a vehicle that needs lots of expensive repairs done. Consider the condition and mileage of your RV when you are pricing it. If your vehicle is in good shape and has good upgrades, you can stick to a higher asking price.
This is especially true if you are getting consistent inquiries on your RV. Once you’ve had it listed for a few weeks (or months) with limited interest, it might be time to consider negotiating with buyers a little more. You may also want to lower your price if you are in a significant hurry to sell. Sometimes that is the only way to get it sold quickly, so it depends on your priorities.
Maximize Show Season
During this time of year, you can also benefit from heightened excitement around RV shows. Show season for recreational vehicles peaks in February or March. You can maximize this excitement as a private seller. Some buyers might enjoy an RV show but be turned away by the dealerships’ high prices. These buyers are likely to start looking at motorhomes being sold privately. You’ll want to have your RV listed and ready for them to find.
Some of the traffic from the shows may only be interested in newer models, since that is what they saw advertised at an RV show. However, you should have the advantage of a more competitive price, compared to a dealership. Emphasize any upgrades or improvements on your RV, as well as highlighting your economical price.
Stop Worrying about Winter Storage
Do you currently have an RV in your possession that you’re thinking about selling? Chances are that you’re paying to have it parked somewhere over the winter. If you already know you want to sell, it’s better to get it sold sooner rather than later. This way, you don’t have to store or pay for an RV that you’re not going to use again.
There are some creative techniques you can use for winter storage. It is possible to store your RV through the winter without breaking the bank. However, if you’ve already determined for sure that you want to sell, there’s no reason to spend your time and energy on winter storage for an RV that you are about to put up for sale. If you know you want to sell, it’s time to look forward. Maybe to a new pastime or maybe to a new RV.
Sell before your Vehicle Depreciates
Another reason to sell sooner rather than later is the fact that RVs depreciate pretty quickly. This means that once a motorhome is sold to its first owner, its price starts to drop. The longer your RV is in your possession, the more it depreciates.
Most RVs lose 10-20% of their value in the first year (after they’re sold for the first time). In following years, it will most likely depreciate by 30-40% or more. Of course, motorhomes can be a very worthwhile investment, despite the quick depreciation. But as an RV owner who is ready to sell, you can maximize your vehicle’s value by getting it on the market before it depreciates further.
Know your Audience
A last thing to consider about the RV market is your specific area. How far do you expect people to drive to see your motorhome? Are you interested in shipping options? Who is going to see your RV or your listing? The way these demographics affect your sale will vary from place to place.
Do many potential buyers in your area have children? Or are they themselves still in school, at some level? If this is the case, then there may be heightened interest in RV sales leading up to spring break. Are you within driving distance of popular outdoor tourist attractions? Or big summer festivals? You will probably see a spike in interested RV buyers leading up to these events or to the season with the best weather in your area. While it is good to take these geographic factors into account, many of them still support winter to early spring being the best time to list.
Ready to sell? National Vehicle is here to help you! You can start by getting a free valuation on your motorhome. If you’re interested, we can also help you all the way through listing and managing inquiries. Get more information here.
Now is the best time to have your RV on the market. Go find a great sale!
FAQ’s
How is the Used RV Market now?
The used RV market is changing post-Covid, but still full of opportunities for sellers. It saw significant growth in sales during the pandemic, and now most of these vehicles are being resold, as other travel options are available again. Because of this increase in used RVs for sale, the average price you can get for a used motorhome is lower than it used to be. However, there are many ways to boost your sale as a private seller. If you have a high-quality RV, a detailed and appealing online listing, and some good negotiation skills, you can still maximize your motorhome’s resale value.
Many of the younger buyers entering the market are interested in the flexibility that motorhomes offer. The increase in remote work since the pandemic has opened up new possibilities for travel and RVing is affordable. It can also be a greener option than plane flights and hotels. Most younger travelers are interested in sustainability, making recreational vehicles more appealing. Because of this increased environmental awareness, many RV sellers are focusing on sustainable features and energy-saving technology. If you have energy-efficient upgrades (like solar panels) you’ll want to emphasize them in your listing.
Is the RV Market Going Down?
The RV market is calming down after the dramatic rise in demand during the pandemic. Some manufacturers have begun to reduce their production of recreational vehicles as well, in part due to the increase of used RVs entering the market as the Covid peak subsides. Interest rates and gas prices have also gone up, dampening the interest of some buyers.
However, this shift in market trends can open up new opportunities for private sellers offering more affordable options. While RVs are not being snatched up as quickly now as during the pandemic, there is still demand for good quality RVs. You just need some patience and a competitive pricing strategy. There are tips below for pricing your used motorhome. The RV market is changing, but it is not crashing out.
Do RVs Lose Value Quickly?
Yes, RVs do depreciate—meaning they lose their value over time—relatively quickly. Most RVs lose 10-20% of their value once they are sold. After that their prices drop by 30-40% per year. This is something to keep in mind while RV shopping or pricing a used vehicle to resell. This is why a used RV is so much cheaper than a new one, even if the used vehicle is not yet very old. Buying used can be a very valuable investment because of this, as long as you verify that the motorhome you purchase is in good condition.
Where is the Best Place to Sell my RV?
The best place to sell your RV varies a little bit depending on what your priorities are. The easiest and most hands-off way to sell a used RV is to go through a dealership. However, you can make a better sale and take more of the profit if you sell through online marketplaces. This option allows you to control advertising, pricing, and negotiations, as well as who you eventually sell to. Using an RV-specific online marketplace can attract more serious buyers than marketplaces that are used for a wide variety of items and sales.
If you want to use online listings but feel daunted by all the details of listing and marketing, you can sell through National Vehicle. We’ll help you price, list, and market your RV, so you don’t have to go through a dealership. This way you can have support on your selling journey, but still have the final say on the sale and the pricing.
How do I Sell my RV Fast?
RVs are not going as quickly in the current market as they did during the pandemic. But there are some techniques you can use to speed things up. Here are some tips.
Make sure you price your vehicle competitively, and be willing to negotiate. Do your research on the market value of your RV. If making a fast sale is your priority, price your motorhome a little below its market value. This will make it stand out to your potential buyers, even if there are similar vehicles available. Another way to get shoppers’ attention is to polish up your online listing. Make sure you have clear pictures of its prominent features, with good lighting. Include a detailed listing that covers make, model, year, features, and maintenance history. Emphasize any upgrades and improvements you have made, and be sure to highlight sustainable features like solar panels.
How do I Determine the Fair Market Value of my RV?
There are many tools to help you determine the resale value of your used RV. Check the prices of similar used RVs in your area to get an idea of what the market looks like. Try to find vehicles with the same make and model and similar mileage to the one you are selling. You can also use the National Automobile Dealers Association (NADA) guides or the RV Trader website as references as well. A valuation from a local dealership can be helpful, but it is important to remember that this will probably be the low end of your RV’s resale value. National Vehicle can also give you a free valuation of your RV to help you with pricing.
Is there a Kelley Blue Book for RVs?
The Kelley Blue Book is a selling guide designed for determining the value of cars. Unfortunately, there is not such a conclusive guide for pricing recreational vehicles. The variation among RVs—due to the different classes of vehicle and extensive customization options—makes it hard to have a concise selling guide. However, there are many helpful tools you can use as a private seller to determine the value of your RV. National Vehicle can get you a free RV valuation here. See the question and answer above for more ideas on how to determine the resale value of your RV.
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