In this blog post, we will answer the following question: How much can you negotiate on a used RV? We will give you a few essential tips to get the best possible price for a used RV.
How much can you negotiate on a used RV?
With most used RVs, you can negotiate a discount of 20% to 30%, depending on the circumstances: your negotiation skills, supply and demand, the RV type and whether you are buying from a dealership.
The basics of negotiating for a used RV
The best RV trading experience begins with preparation. Knowing what you want to buy, how to finance your purchase, and how to avoid common pitfalls will protect both your wallet and your sanity.
We advise you that before going to talk to a seller, read this post to find out how to negotiate on a used RV.
- Knowledge is power
Never before has it been possible to have as much information on prices, characteristics and opinions of the RVs, as well as their financing, as it is possible today. It is now possible to obtain information on each phase of the purchase process using the internet.
There are new RV and used RV classification tools that will show you the advantages and disadvantages of almost every RV, truck, SUV, and Minivan on the market.
Trading an RV without knowing what fits your budget is a horrible idea. Another tool that can work for you is creditkarma.com, to know your credit score and it will also help you determine how much you should pay for financing.
If you are looking for a used RV, and you want to know about its history, there are tools like RVfax.com that will show you all the past of the RV of your dreams.
- Remember that there are many sellers!
The worst thing you can do is buy or quote from a single RV dealer. By shopping at multiple dealerships, including those not close to your home, you increase your chances of getting a good deal.
We recommend you to chat online with the sales department of some dealers, so you will not have to leave home and RVry out many negotiations from anywhere. Be sure to look at dealers where the RV you are considering trading may not be very popular.
Even if you are in love with a model that can only be found in one location, it is a good idea to look for the same model at other dealers. Vehicles are frequently traded with each other, so you can get offers from multiple dealers on the same RV.
- Don’t focus on paying the fee
Dealers will do almost anything to keep you focused on the monthly payment. It is easier to make you believe that you have a deal when you are only looking at a number, than when you are looking at the price of the RV and the total cost of the purchase, without forgetting the financing.
To find the total cost of the RV, use your phone calculator and multiply the monthly payment by the number of months in the RV loan. Then add everything you’re paying at the checkout, including add-ons, taxes, and fees. The total will be the actual cost of your RV.
- Know the offers
Automakers advertise new and used RV deals to keep up with sales. There are several types of offers:
- Cash backs are not really piles of money that the salesperson gives you back when you walk out the door. They are discounts on the price you pay for the RV.
- Financing reduces the interest rate you pay on your financing to a number below market rates.
- From zero percent, they are the best, they are the ones that reduce your interest payments to nothing.
- Used RVs are generally only offered on Certified Pre-Owned RVs and reduce the interest rate below market rates.
In some cases, you will find a combination of low interest and cashback.
- Think about financing methods before you go
Smart shoppers never approach a dealer without having a pre-approved financing offer from a bank, credit union, or another lender. Without a pre-approved offer, the dealer will have no incentive to try to find you a better financing offer.
Customers without near-perfect credit probably won’t qualify for the best auto finance deals.
- Separate the Trade-In
When you go to negotiate an RV, separate the trade-in, even if it means that you sell it yourself or that you quote it with several dealers. Allowing the dealer to put the value of the RV you are going to trade in is a recipe for the confusion that always hurts the wallet.
It’s too easy for a dealer to show you a great price for a new RV if they can reduce the amount they are willing to give you for your old RV.
Conversely, if you get a lot for your trade-in, you are likely to see a higher price on the RV you are buying. Trading an RV on your own has its own pitfalls, although a private sale will generally fetch you the highest price.
- Remember that it is a commercial transaction
Buying an RV can be an emotional rollercoaster for the following reasons:
- You probably have some emotional attachment to the RV you are considering.
- You worry a lot about the stress of a negotiation process.
It is better to remember that it is simply a business transaction and that any emotion can ruin a good deal.
Remember that you are trying to get a great price and the dealer is trying to maximize his profit. There is nothing wrong with either position, as long as both parties are educated, professional, and comply with legal requirements.
Some customers might think that being super rude and rude will make the salesperson tremble in your shoes and give you a great deal, the actual result will likely be different. It is much easier to want to scam that type of customer, than a nice and knowledgeable customer.
Information, resilience, and a willingness to walk away are the best tools when negotiating an RV.
- Timing is everything
Like most companies, auto dealers and salespeople have sales targets with bonuses and commissions based on hitting specific sales numbers. If you are going to negotiate an RV towards the end of the sales closing period, you might get a great deal.
That means the end of the month, quarter, or year, in most cases. However, this strategy only works if the dealer or seller has not reached their goals.
- Negotiate the price first
As a buyer, your main goal is to negotiate the lowest price possible. Although the seller will likely want to mix your trade-in and financing into the equation, your focus will always be on the price they will pay for the RV.
The dealer expects a certain amount of profit, so your opening offer shouldn’t be too insulting. The final price will be somewhere between the dealer’s cost and the manufacturer’s window sticker. Any counter offers must remain in that range.
It is also good to know what you can and cannot negotiate. You may not be able to negotiate destination charges. You don’t have to pay for anything added to the RV at the dealership if you don’t want to or don’t agree. That includes window etching or nitrogen on the tires.
- Prepare to walk away
The best way to get a good price on a new or used RV is to stay away from a bad one. It’s your best negotiation tool, even if very few are willing to use it for fear of embarrassment, intimidation, or wasted time.
When you politely get up and leave, be sure to leave your number behind. Sometimes they can magically find a little more room to negotiate, especially if they are near the end of the month or if you are very close to a deal.
The bottom line
We remind you that some RVs seem to offer a lot for the price. But be careful, it’s almost always because they are built with inferior materials. For this type of trailer, devaluation is very rapid.
And they often have problems, even in the early years: water infiltration, saggy mattresses and cushions, warped walls, cupboards and doors that no longer close, etc. For almost the same cost of ownership, you could enjoy a higher quality, more luxurious and comfortable vehicle.
By saving money for a down payment or handing over a vehicle as part of the payment, you can reduce the amount of money you need to finance and lower your financing costs. In some cases, the value of your vehicle delivered as part of the payment can be used to cover the down payment on your new vehicle.
If you have more questions or comments about the content, please let us know.
FAQ on How much can you negotiate on a used RV?
Can you finance an older RV?
It is not that easy to finance an RV older than 15 years. If this is your case, you will have to either get a personal loan or a loan from a credit union. The score credit for an RV loan should be at least 700, and there are few lenders who finance an older RV or someone with a low credit score.
How much below MSRP should I pay for an RV?
You should expect a maximum of 25% below MSRP for an RV. This is a happy case, however, as many dealers hesitate to offer too much of a discount, especially for new and luxurious RVs. It will all come to your negotiation abilities.
How to request a price reduction?
Requesting a discount requires three important elements: planning, information and clarity of the objective.
What is the price of a motorhome?
The cost for the motorhome amounts to about US $ 55,000, which can rise to $ 70,000 if higher level and quality equipment are added, such as a special refrigerator, electric awnings, digital television, and premium audio equipment.