Used MH discounts

DeMartiniRV.com

http://www.rversonline.org/ArtGasDiesel.html

go to this website and review the numbers. Then at the end send him an email and he will send you his spreadsheet, "Evaluation of Ownership Cost of New vs Used RV.

It shows that in the 1 year you will lose 18% depreciation, then 12% the 2nd year, 8% the 3rd, 7% the 4th and 6% or less the years after.

This is based on what he found comparing the depreciation rate of rvs from several sources.

As soon as you drive off the lot, after purchasing, and turn around and go back they will depreciate your new rv 18-20%, that's even if you go back the same day.

An interesting development occurred last week. I got a call from the owner of the dealership that sold it for me saying he'd "found some discrepancies in the deal and would like to talk to us." He offered us a financial settlement that we accepted. I retract my previous comments about the dealership.

However, I would recommend anyone considering a consignment sale to get a copy of your state's law on the subject. I did that after the fact and found a few wrinkles I didn't know about. The consignor is required in Washington, to specify a "minimum acceptable bid" from a potential buyer, which I didn't do. The consignee is required to provide a copy of the Bill of Sale within 10 days of the transfer of title to the buyer, which the dealership didn't do.

Overall, we're satisfied with the final outcome.


Frank Damp

frankdamp wrote:
To give you a data point - we sold our 2002 Georgetown 325 Class A in early December. They originally estimated an asking price of $28,500 and anticipated being able to get about $25000 for it. After 4 months of no activity whatever, they called and said they'd had a bid of $14,000!

I told them to stick it where the sun don't shine and their response was "come pick it up". DW didn't want it on the driveway again, so I negotiated and ended up getting $15,200 for it, after paying the consignment fee.

I think I got screwed, but don't have any recourse. The dealership refused to tell me the name and address of the buyer. In Washington, we have to file a "Seller's Report of Sale" and the dealership wouldn't give me the buyer's name and my only choice was to put the dealer on the Report as the buyer. I haven't been able, yet, to find out what they actually sold the vehicle for, but I will be talking to our State DOL's criminal investigator next week.

I would STRONGLY advise against trying to sell through a consignment dealer. Either sell directly to a dealer (and take your lumps) or sell privately.

I'm not going to identify the dealership on line, but if anyone in Western Washington would like to know, please send me a private message.

Holy cow! I think you took a little beating. I sold my 94 PaceArrow in three days on Craig's list for $11,500.00. From reading these forums I thought it would take me at least a year and I was thinking of letting it go for 7K if I sat on it for awhile.

JALLEN4 wrote:
Any discussion of percentage of discount on a used motor home is completely pointless. There are a hundred variables possible including major ones such as mileage, equipment level, condition, make and model, etc.

One can find units priced 50% more than true value to units priced at a bargain if one paid full asking price. There are two kinds of buyers. Those that insist on using the discount offered as an indicator of value and those who have done the research and actually know what the true current value is for a particular unit compared to what is available. Theoretical "book value" or some suggestion found on the Internet is not a substitute for comparison shopping.

The only reliable comparative value for used units is NADA, and actual sale prices on similar units.

Sometimes dealers ask tens of thousands of dollars more than what reality of comp sales reflect.

Yes, I have an example in real time if anyone wants one.

frankdamp wrote:
To give you a data point - we sold our 2002 Georgetown 325 Class A in early December. They originally estimated an asking price of $28,500 and anticipated being able to get about $25000 for it. After 4 months of no activity whatever, they called and said they'd had a bid of $14,000!

I told them to stick it where the sun don't shine and their response was "come pick it up". DW didn't want it on the driveway again, so I negotiated and ended up getting $15,200 for it, after paying the consignment fee.

I think I got screwed, but don't have any recourse. The dealership refused to tell me the name and address of the buyer. In Washington, we have to file a "Seller's Report of Sale" and the dealership wouldn't give me the buyer's name and my only choice was to put the dealer on the Report as the buyer. I haven't been able, yet, to find out what they actually sold the vehicle for, but I will be talking to our State DOL's criminal investigator next week.

I would STRONGLY advise against trying to sell through a consignment dealer. Either sell directly to a dealer (and take your lumps) or sell privately.

I'm not going to identify the dealership on line, but if anyone in Western Washington would like to know, please send me a private message.

Your asking price was no where near what the average buyer would pay for it as you found out your price was 2X what anyone would pay.

To give you a data point - we sold our 2002 Georgetown 325 Class A in early December. They originally estimated an asking price of $28,500 and anticipated being able to get about $25000 for it. After 4 months of no activity whatever, they called and said they'd had a bid of $14,000!

I told them to stick it where the sun don't shine and their response was "come pick it up". DW didn't want it on the driveway again, so I negotiated and ended up getting $15,200 for it, after paying the consignment fee.

I think I got screwed, but don't have any recourse. The dealership refused to tell me the name and address of the buyer. In Washington, we have to file a "Seller's Report of Sale" and the dealership wouldn't give me the buyer's name and my only choice was to put the dealer on the Report as the buyer. I haven't been able, yet, to find out what they actually sold the vehicle for, but I will be talking to our State DOL's criminal investigator next week.

I would STRONGLY advise against trying to sell through a consignment dealer. Either sell directly to a dealer (and take your lumps) or sell privately.

I'm not going to identify the dealership on line, but if anyone in Western Washington would like to know, please send me a private message.

JALLEN4 wrote:
Any discussion of percentage of discount on a used motor home is completely pointless. There are a hundred variables possible including major ones such as mileage, equipment level, condition, make and model, etc.

One can find units priced 50% more than true value to units priced at a bargain if one paid full asking price. There are two kinds of buyers. Those that insist on using the discount offered as an indicator of value and those who have done the research and actually know what the true current value is for a particular unit compared to what is available. Theoretical "book value" or some suggestion found on the Internet is not a substitute for comparison shopping.

I concur, totally!

A good plan would be to settle on a unit you like and search for it on the web, country-wide and over at least a couple of months. Once you have a good set of asking values, make some offers to see what happens, and go from there. You can easily come to terms, pending an inspection, using the web and telephone, and if necessary fly one-way to complete the purchase.

Any discussion of percentage of discount on a used motor home is completely pointless. There are a hundred variables possible including major ones such as mileage, equipment level, condition, make and model, etc.

One can find units priced 50% more than true value to units priced at a bargain if one paid full asking price. There are two kinds of buyers. Those that insist on using the discount offered as an indicator of value and those who have done the research and actually know what the true current value is for a particular unit compared to what is available. Theoretical "book value" or some suggestion found on the Internet is not a substitute for comparison shopping.

I found the original window sticker. It was 107K. I'm guessing he actually paid 85 to 90 for it. It only has 5800 miles on it. Good for some things but it means it's also sat a lot. It's really clean. Batteries were dead so we couldn't check everything out. Its a consignment deal through a car dealership. No warranty, as is. Since it's snowing and ZERO degrees here, I don't think it will be selling any time soon. My buddy's brother wants to drive it from Pgh to Alaska if he buys it. The 11 year old tires will have to go!!!!
Thanks!