Went to my local RV Dealer yesterday, to get trade in value of camper.mWe have purchased our last 2 campers from them. I have a 2011 Passport Grand Touring , power hitch, power jacks, power awning, dvd,cd, flat screen tv, outside speakers, attached grill,1 large slide, bunk beds, queen bed, U shaped dinette. This was a special unit back in 2011. Total price $33,000. Had to put down payment $8,000. Total financed $26,000. Now I am told that in 4 yrs, my unit has depreciated so much, that trade in value is in $13,900. Dealership advises per NADA guide, not worth anymore. Apparently they could only sell unit for $20,000. I advised salesperson(whom sold us our last unit) that I am trying to buy new smaller unit, with little money out of pocket. The unit I was interested in buying from them was $18,000, discounted from $24,000. I was told I would need $8,000 out of pocket . I was told that since I was buying an already discounted unit, price for trade in probably couldn't chage much. I was told if I was purchasing $100,000 motor home, that would probably payoff my camper. I was told owner is a business man, and that rv deals are not the same as purchasing/trade in of cars. My payoff of my unit is $22,000. Sales person asked me how much available cash I could put down a new unit. I asked her if they take credit cards, told due to fees, they only would let me charge $1,000. I overheard another salesperson tell a customer that you need to put 10% down. Do most dealerships require customers to have a cash down payment. So, at this point, my unit has lost $19,100 in 4 yrs. Suggestions?.

Go to your bank or credit union and get a value. And then sell it yourself.

I would try selling it myself, and go from there.

With the dealer it is a numbers game. Some would put the $6,000 on the trade and tell you the new trailer has to be full price. I am not one to sell on my own but that might be the best choice for you.

Dealer has too many units to sell. Does NOT want another.Your RV lost 20% the minute it left the lot.Welcome to the wonderful world of RVing.

RVs are notorious depreciating assets. If you really want to trade it, suck it up take the huge loss and move on. Otherwise keep what you have and run the wheels off it.

Travel trailer Trade-in - what to do? | Good Sam Community

46 Replies

mike77leprechau
Explorer
Jul 07, 2015
goducks10 wrote:
To the OP, you might want to try other dealers. JMO but Camping World would be the last place I'd buy a trailer from. When we traded out last TT in on our current 5th wheel we tried the local RV dealer that had what we were interested in. They came back with a similar BS offer. I called another dealer 300 miles way. Way better offer. Did the whole deal on the phone, sight unseen. NO deposit, no nothing. Drove over about a week latter and did my PDI and left with the 5th wheel. Shop around. Not saying you'll get anything near a good deal, but not all RV dealers deal the same. You're upside down on your loan but you may not have to dig out as far with a different dealer.
exactly. Looks like you overpaid. It happens there is a huge margin on these things hard to know what bottom line is. Shop around you're going to lose some money but it's up to you to decide if it's worth it for you. I lost a couple grand on my last trailer but the last 2 weeks of the most stress free towing, parking, setup, and camping I have ever had due to the new rig makes it worth it! Good luck!
mike77leprechau
Explorer
Jul 07, 2015
Dennis Smith wrote:
buy used and pay cash. Then you don't have to worry about resale.
just have to worry about buying someone else's problem then....
itguy08
Explorer
Jul 06, 2015
Gdetrailer wrote:

The OP was willing to use credit cards to cover the loss at the dealer to the tune of $8,000! At 21%-25% interest rates on a credit card that will really hurt and make an already bad situation even worse..

Who has a card with a purchase rate of 21%? Ive got 3 with 9.9%. While high, it could be doable. Not smart but doable. Pick a term, run the amortization table on xxx @ 9.9% and pay that. Just don't pay the minimums and it will work just like a regular loan. Only difference is the interest would not be tax deductible like an RV loan.
2012Coleman
Explorer II
Jul 06, 2015
jfkmk wrote:
rjxj wrote:
darsben wrote:
KEEP THE RIG RUN IT INTO THE GROUND BUY ANOTHER THEN

^^^^^ let me add to this by saying get up on the roof and check and recaulk. Also caulk around the clearance lights, windows and everything else. There is only one more thing that could make this situation worse and that is to add water damage to it.

Exactly! If you owe 22k and you're willing to whip out your credit card for another 8k, it's way too much to be paying to wind up with a 18k trailer. Besides, credit card interest on 8k is astronomical. Financing 26k on a 33k trailer was a really bad mistake, I wouldn't compound that mistake.
X2 - Especially if your only making the minimum payment.
goducks10
Explorer
Jul 06, 2015
To the OP, you might want to try other dealers. JMO but Camping World would be the last place I'd buy a trailer from. When we traded out last TT in on our current 5th wheel we tried the local RV dealer that had what we were interested in. They came back with a similar BS offer. I called another dealer 300 miles way. Way better offer. Did the whole deal on the phone, sight unseen. NO deposit, no nothing. Drove over about a week latter and did my PDI and left with the 5th wheel. Shop around. Not saying you'll get anything near a good deal, but not all RV dealers deal the same. You're upside down on your loan but you may not have to dig out as far with a different dealer.
hohenwald48
Explorer
Jul 05, 2015
jfkmk wrote:
jrp26789 wrote:
rjxj wrote:
jrp26789 wrote:
Vulcan Rider wrote:
Gdetrailer wrote:

The mere fact that you are willing to whip out a credit card to cover the $8K difference tells me you have much to learn about finances.

I missed that part.
That turns a bad idea into a REALLY REALLY BAD idea.

Does anyone actually read? The OP never said boo about a credit card. Yet several of you have gone down a path of needing to educate him on finance. Pay attention. Someone else replied whip out your credit card. He said 8000 out of pocket. Now unfortunately the OP most likely overpaid for this trailer. I never finance past 5 yrs on anything for this reason. Then you are less likely to end up upside down.

Does this count as boo?
"Sales person asked me how much available cash I could put down a new unit. I asked her if they take credit cards, told due to fees, they only would let me charge $1,000."

I stand corrected. Still doesn't mean the op is seeking financial advice. The self righteousness on this forum is nauseating. I used to use my cabelas card for everything. Free money for hunting Gear is great.

Actually, if you read the original post, he kind of is asking for financial advice. And since he owes 22k on something worth less than 14k, AND he considered throwing another 8k worth of credit card debt to it, he can probably use some financial advice. Not self righteous at all, simply reality.

Like you, I use a credit card for almost all my purchases. I get a little extra protection and I use the points for additional purchases. The only difference is I pay it off each month. If I can't afford it, I don't but it. And I would never finance a "toy" unless I had the reserves to pay it off if something happened. Again, not self righteous I just choose to live within my means.

Live within your means. WHAT? Are you some kind of un-American pinko commie? :)
Vulcan_Rider
Explorer
Jul 05, 2015
jrp26789 wrote:
The self righteousness on this forum is nauseating.

And you need to get over it.
This happens on every public forum ever created.
Someone asks for advice.
Others offer the BEST advice they know, based on experience and often professional consensus too.

The best answer is not always what you want or expect.
hawkeye-08
Explorer III
Jul 05, 2015
A couple of comments...

Look up the value KBB has for it, often the dealers low ball it. We had a 98 Terry "Northwest Special Edition", the dealer looked it up and offered us $1500 for it on trade. It was like new condition and as it turned out, was not even listed in KBB, just the base model was. We ended selling it to a private party for $4000 (and later they told us they would have paid more)...

If your trailer is not listed, that does not mean that it is only worth what the closest one is valued at in KBB.

My advice (you get what you pay for remember), is to make sure to keep up on the maintenance of your current trailer, save some money over the next year or two for down payment and when ready, purchase your newer trailer, selling your old one yourself. Use the time to study the smaller trailers like you want to make sure you are getting one that meets your needs. Buying new is when you take the big depreciation hit so avoid doing that very often (unless you have the financial means to handle it)...

We ended up finding the trailer we had wanted new as a 1 year old used one that had been only used once or twice. We paid used price for it and since we had been saving for two years additional (with intention to buy new), we did not need to finance. It is a good feeling to own it free and clear...

Best wishes
rbpru
Explorer II
Jul 05, 2015
When it comes to toys I like my dollar to be worth 100 pennies. I do not need the credit card company in my pocket.

This is especially true for a toy whose value falls like a stone in water.

But heck I am old school so what do I know.
tragusa3
Explorer
Jul 05, 2015
I see the direction of this conversation to actually be a refreshing change from the issues on this forum. Offering strategy is exactly what OP needs, and shows the caring nature of those that posted. I do hope the OP isn't embarrassed into not following through with this conversation.