If you haven’t heard, the RV industry is booming, and suppliers are struggling to keep up with the demand. With the lack of inventory, quality used RVs are also in high demand.
This means the RV sitting in your driveway may be worth more than you might think. If you want to part with it, it might be a good idea to sell your RV now to maximize your profits before manufacturers catch back up with the demand.
Let’s get started!
Is Now a Good Time to Sell an RV?
Now is an incredible time to sell an RV! Some RVers are selling their gently used rigs for more than they paid for them a year or two ago. Considering that RVs typically depreciate faster than cars, we’re living in unprecedented times.
Whether for full-time traveling or weekend adventures, the RVing lifestyle is gaining popularity. Families and individuals embrace the nomadic lifestyle as remote working and learning are becoming more readily available. So if you’re on the fence about whether or not you should sell your RV, don’t put it off any longer!
Will RV Prices Go Down in 2022?
If you’re shopping for an RV but hoping to see prices come down in 2022, you’ll be disappointed. Major RV manufacturers like Thor and Airstream continually report record-breaking numbers quarter after quarter. Prices have been steadily rising over the past several years, and it hasn’t phased the demand one bit.
Because of the continued demand and supply shortages, we’re likely two or more years away from seeing a price decline. However, manufacturers are getting creative in addressing supply shortages.
With their ingenuity and a bit of luck, they’ll increase their supply and respond to the demand more quickly. When this occurs, the demand for used RVs will likely decrease as those shopping for RVs opt for new units.
Is It Hard to Sell an RV?
Selling an RV can be a straightforward process. While the process is easier if you have possession of the title, it’s still relatively simple if you have a loan on your RV.
You’ll first want to do market research to discover the value of your RV. Look around online for similar models that match the year and condition of your RV. If you have a loan on your RV, you’ll want to consider the value compared to what you owe on it. If you owe more than it’s worth, you’ll need to cover the remaining balance for the bank.
You’ll then want to create a sales listing for your rig. The listing will include everything about your RV that a potential buyer might want to know or see. You’ll want to provide high-quality pictures of your RV to draw attention to your listing. Many RVers use websites like RVTrader and Facebook Marketplace to create their listings.
Once your listing goes live, if you’ve priced your RV right and provided high-quality pictures, be ready for a fury of emails from potential buyers. They’ll likely ask questions and want to know a bit more about the rig.
If possible, read and reply to each quickly, as you never know which one might be ready to hand you a check. You’ll probably have a few who want to come and check the rig out in person. Be as accommodating and flexible as you can with this.
If you play your cards right, you’ll have an offer in no time. It’s not uncommon for a buyer to make a counteroffer that’s slightly less than your asking price. Your ability to be flexible on the price will greatly depend on the number of potential buyers and if you have a loan to pay off.
Once you work out a deal, the potential buyer can present you with a check for the agreed-upon price. Depending on the sale, financial institutions may need to work out the monetary exchange. However, you can sign the title and present it to the subsequent owners if you have the title in hand. You can then proudly take your check to the bank.
What Is the Best Way to Sell Your RV?
You have a couple of options to sell your RV. You maximize your sale by selling your RV yourself. If you have a loan on your RV, it’s a good idea to call your financier to see if there’s anything specific needed to complete the sale. They may be able to offer some assistance.
Another option is to sell your rig on consignment. Many dealers across the country offer RV consignment. You bring them your empty RV, and they’ll handle practically every step of the sales process.
They’ll use their resources to maximize the sale, but they won’t do it for free. Consignment dealers typically charge a flat fee or an agreed-upon percent to facilitate the transaction.
How Do You Stage an RV?
Staging an RV is the key to getting interested buyers. The best way to stage your RV for sale is to pack up as much of your personal possessions as possible. This not only allows you to get it ready for its future owner but also take high-quality pictures without all the clutter.
Turn on all the lights, so it’s a bright and inviting space. You don’t want it to appear dark or dreary in any pictures. Remove personal photos and unique items that would make it hard for a buyer to imagine themselves in your rig. Set up pleasant decorations to help potential buyers feel comfortable and imagine themselves on their future adventures.
How Do I Protect Myself When Selling an RV?
You want to protect yourself when selling your RV. You don’t want to fall victim to a scam or get ripped off. Only accept a form of payment that you can easily verify.
Cash or a cashiers check are the best options. You can call the bank to verify funds and complete the transaction with peace of mind. Some sellers will also go to the bank with the buyer to complete the transaction. This minimizes any chance that you’ll be the victim of a scam.
Have a bill of sale that both the buyer and seller sign. Some banks will require this document to complete a transaction, but this can be a legally binding document to protect both the buyer and seller. This document can state the terms of the transactions and limit your liability after the sale.
Should I Sell My RV?
The RV market is hot right now, including used RVs. It’s a great time to sell your rig, especially if you’re not using it as often as you’d planned. Selling your RV can free up space in your driveway or eliminate storage expenses. The trend of RVing won’t last forever, and selling your RV soon lets you get the most out of selling it.
Have you ever sold an RV? What advice would you give to future sellers?
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