RV Resale Market Dominated By Amateurs
Dave S wrote to me yesterday:
“A year ago, my local dealer had a 2002 year model
Winnebago Vista 21B that he was going to sell us for $23,000 (39,000 miles). Now all I can find is 5 private party units, all 2003 year models: $40,000-3700 miles (owes $46,800); $37,000-7500 miles (paid off); $38,000-16,000 miles (owes $38,000); $36,000-24,000 miles (owes $40,000).
My calculations (before getting your report) show that a fair price for these private party units should be in th
e mid $20s, but they are all expecting to get $10-15k higher (I have spoken with all of them)! What gives?”
My Reply:
What you are seeing is a combination of circumstances. These people did not do their homework and bought in the heat of passion and probably opted for the fatal combination of low/no down payment, low interest, long term financing. They paid too much and are repaying too little.
They are hoping you will make the same mistake(s) they made and bail them out. Wish them good luck and move on.
The RV resale market is dominated by amateur sellers. Dealers control less than 30% of the market. You are seeing some brutal examples of the reason why. Not too many RVers are willing to go back for a second thrashing after they realize what happened to them.
These people have a real problem. Their coachs are worth thousands less than they owe.
