How to Determine the Value of a Used RV

Camping and traveling in an RV are as popular as ever. As a result, there is an increase in people looking to purchase RVs. Determining a fair value of a used RV is essential to both the seller and buyer. Evaluating a used RV’s price is relatively simple, but you need to know where to find accurate information.

Many people use Kelly Blue Book to determine the value of an automobile, but it does not provide the value of a used RV. The best source for determining the value of used RVs is the National Automobile Dealers’ Association or NADA.

National Automobile Dealers Association (NADA) Guide

There are many things to look for when shopping for a used camper (See our article on purchasing a used camper). The NADA Guide is an excellent place to start when determining the value of a used RV; however, it is essential to assess its condition fairly. Complete a walkthrough of the camper and ensure that everything works and is in good shape before determining the value. (To do that, check out our article on camper walkthroughs). If you sell a camper, you must be honest with yourself about the condition.

Factors to Consider when Determining the Fair Market Value of an RV

Fair market value is just as the name implies; it is the price of a camper given in the current market that is fair to both the seller and the buyer. The seller wants top dollar, and the buyer wants to pay less than the RV is valued. Occasionally, one of these conditions occurs, and the buyer gets a great deal, or the seller gets more money than the camper is worth. However, most of the time, the RV sells for fair market value. Determining the value of a used RV does not occur in a vacuum. Several factors contribute to the price.

The Camper’s Condition

The first factor to consider when determining the value of a used RV is the RVs condition. Take a thorough look at the RV before making your purchase. Look closely for potential problems such as water damage or electrical issues. A good thermal scanner (check it out on Amazon) is expensive, but they are invaluable in helping you detect hidden water damage. Look around, and you may be able to rent one for a reasonable price. We also recommend using an outlet checker (check it out on Amazon) to test all electrical sockets. You can purchase one for less than $20, and they help ensure that all electrical outlets are working correctly.

The RV’s roof is one of the most critical factors that must be assessed. The owner needs to perform annual maintenance on the roof, and the buyer should ask the owner for records related to roof maintenance.

I would always ask an RV inspector to look at the RV before making the purchase. A roof needing repair will negatively affect the value of the RV. Also, look at those components designed to wear out and will have to be replaced at some point. Check the condition of the battery, tires, and brakes. If any essentials on a camper are nearing replacement, this should be considered when determining the RV’s value.

The RV’s Age

As with items such as automobiles and boats, the age of the RV will affect its overall value. As an RV gets older, its condition naturally begins to degrade. Along with age is the mileage that has been put on the camper. It is difficult to determine the mileage on a trailer or 5th wheel, but mileage will affect the value of a Class C or Class A.

Upgrades to Campers

Another consideration when determining the value of a used RV is evaluating any upgrades that owners have made to the camper.

NADA does not consider upgrades when it determines the value of an RV. For example, we upgraded the sofa in our camper, which will add some value. In addition, items such as washers, dryers, or televisions that have been added will increase the amount the RV is worth.

Make and Model

This seems obvious, but an RV’s make and model will influence its value. Many Airstreams on the road are well over thirty years old, and they are still just like new. Some people prefer an older model airstream rather than a new one.

Like with most things, higher-end campers and RVs hold more value than lower-priced models. Many low-cost entry-level RVs are thrown together and are not designed to last long term. For this reason, lower-cost, entry-level campers depreciate much more quickly than higher-end models like Tiffin and Airstream.

How Quickly Does an RV Depreciate?

Like with automobiles, RVs depreciate over time, and the most significant depreciation occurs during the first year, as soon as you drive/tow them off the lot. It is estimated that RVs depreciate around 20% in the first year. The depreciation rate slows down after that to about 3-7% per year.

The RV Market When Determining the Value of a Used RV

A significant factor to consider when determining the value of a used RV is the current economic market. Like anything else, scarcity will drive up the price of a camper. When demand is high (lots of people want campers) and supply is low (there are few campers for sale), the RV price will be higher than when supply is high. For this reason, you might want to look at purchasing or selling during the offseason. Not as many people camp during the winter months, especially in colder climates. Since the demand is lower in the winter, you may score a better deal.

Covid has caused camping to increase in popularity. Consequently, the demand for campers has skyrocketed. As a result, people often have to pay over market value to secure an RV. This demand is great for sellers but not for buyers. However, as we get further away from Covid, many of those who purchased their first camper at that time are beginning to sell them. As demand decreases, the market is flooded with used RVs, which drives down the price. However, we can say that the decrease in demand still has not met the pre-Covid numbers, and RVs are generally selling for at least fair market value.

If you are a seller and feel the market is too low to sell your RV, we recommend looking at a program like Outdoorsy. With Outdoorsy, you can rent out your RV so that it is at least generating an income while you wait for the market to rebound.

Assess the Marketplace

It is important to assess the marketplace when determining an RV’s value. The “marketplace” is any region or area where you are looking to purchase a camper. Check used RV inventories at local dealers. If their stock is low, then prices will be higher.

Check online camper inventories on sites such as RV Trader to find the selling price for various models. Remember, when you check these types of sites, the price you see, the asking price, may be higher than the actual selling price. Look at sites like RV Trader, and find completed sales to check actual selling prices.

EBay is an excellent site to monitor the selling price of campers. EBay Motors has a section that is dedicated to RVs. You can easily watch auctions to determine how much people pay for used RVs. If you are not familiar with eBay, you can create an account and then choose to place a camper on your watch list so that you see the final selling price. You can also use the advanced search options to see completed auctions.

Financing a used camper can be difficult. It is essential that you strike the best deal possible and be prepared to pay a down payment (Check out our article on financing a camper).

Buying a Used Camper

Buying a used RV has advantages if you find one in good shape. A used RV has already taken its biggest hit to its value due to depreciation, which makes purchasing a used RV appealing. However, as a buyer, it is essential that you complete your research to ensure that you are getting a fair deal. No matter how good the deal is, we recommend having your RV inspected before making a purchase. The National Recreation Vehicles Inspectors Association (NRVIA) is a great place to locate a certified inspector.

Purchasing or selling a camper can be a daunting task. We recommend that you thoroughly research the market before determining the value of a used RV or completing any transaction. Be patient and take the time to conduct your research to ensure that you get the best deal possible.

Have you purchased or sold a used RV? How did you go about determining the value of a used RV? We would love to hear from you. Please leave us a comment in the section below.