Trade-ins... when did things change?
So I am in the market for a new MH and I have a 10 year old MH that I thought might be of some interest to dealers selling new MHs. Not so. When did this change? Did I miss something? Here are s...
Forum Discussion
Dealers typically figure trade-in values using the low retail without any of the options added but with deductions for age, mileage and condition of the unit. If you used an on-line RV value calculator to figure what your RV is worth and added in the options and such, your number will be quite a bit higher. Also, NADA tends to show lower prices than Kelly Blue Book. Most people doing a private sale will try and use the Kelly prices with options included.
Lending agencies typically won't put up money on RVs older than 5 years. Dealers usually have deals with banks that allow them to get around those rules if they're selling the unit and providing the financing though. So sometimes it's easier to get rid of a much older unit by doing the trade-in and taking the hit on the value.
You can do better in a private sale or even a consignment sale, but both come with a few more complications. In a private sale you or your buyer may be faced with the financing issues and you have the problem of "is the check good, etc" and "when, where or how do I sign over the title?" With a consignment sale those problems are taken care of for you, but you have to figure the commission on the sale which reduces what you'll get in the end. However, you usually come out better money wise on the consignment sale over the trade-in. And with both private and consignment sales there's the time lag of finding the right buyer before you can get totally out of the RV, whereas with a trade it's all taken care of when you sign over the title.
Lending agencies typically won't put up money on RVs older than 5 years. Dealers usually have deals with banks that allow them to get around those rules if they're selling the unit and providing the financing though. So sometimes it's easier to get rid of a much older unit by doing the trade-in and taking the hit on the value.
You can do better in a private sale or even a consignment sale, but both come with a few more complications. In a private sale you or your buyer may be faced with the financing issues and you have the problem of "is the check good, etc" and "when, where or how do I sign over the title?" With a consignment sale those problems are taken care of for you, but you have to figure the commission on the sale which reduces what you'll get in the end. However, you usually come out better money wise on the consignment sale over the trade-in. And with both private and consignment sales there's the time lag of finding the right buyer before you can get totally out of the RV, whereas with a trade it's all taken care of when you sign over the title.
