NADA vs asking prices

[westwardho]

Haven't even bought the RV yet and already I'm depending heavily this forum! Here's my question: The PW I've fallen in love with is way more expensive than the NADA value. However, the asking prices of similar models online -- and I've googled a lot -- all seem to be more or less in line with this one's. How the heck do I decide what's a fair price?

 

[nvrver]

What is a PW?  Check pplmotorhomes.com and you can see what recent sale prices have been on used Motor Homes. 

 

[Orick]

I've actually been reading recently similar comments about asking prices being well over NADA.  I think the general consensus was that many people just don't believe that their RV is only worth what NADA says and price it too high out of the chute.  I'm betting that selling prices are more in line with NADA but....?

Good luck...

rick

 

[COMer]

I bet it depends somewhat on what part of the country you are in.  Here in FL, I think that the NADA.com prices, without any add-ons represent what dealers would like to get but will always ask more to start.  Wholesale is about 20-25% less.  A good deal would be between the two or about 10% less than NADA.com prices.  But every deal is different and each dealer might have more or less invested in the unit.

 

[westwardho]

OK, I've done some more research and I'm still stumped. What I'm looking at is a 2005 Pleasure-Way Lexor TD -- which is exactly what I want. (I didn't know that until I saw it, but now I do.)  Comparables are hard to find, as Excel TSs and the occasional Excel TD dominate the PW listings.

Here, from listings in the Oodle.com site, are three examples of PWs recently sold:

2004 PW Excel TS, 19k mi., sold for $39,900; NADA value $31,031.
2003 PW Excel TD, ? mi., sold for $39,995; NADA value $26,230.
2005 PW Excel TS, 27,000 mi., sold for $42,500; NADA value $34,021.

And there are many, many more PWs for sale with the same kind of discrepancy between the NADA value and the asking price. I've checked a few Roadtreks for sale; same thing. So I am still feeling the need of some help to discern what's a fair price. If anyone else cares to jump in, I'd love to hear from you!(I already know the part about the fair price being the one I'm willing to pay; I am trying to avoid being a total idiot in this regard.)

 

[s2kskibum]

Buy what you love,  get the best deal you can,  don't look back.

 

[motojavaphil]

We have not seriously thought about the market.  I do check the value of the rig and find it priced in the retail market about what we owe.  There are other adverts for the same rig for a lot less and some for more.  The economic times have really caused the industry to be a bit crazy to put it mildly.

 

[glockholiday]

I use NADA and Kelly Blue Book as a bargaining chip when I'm purchasing. The seller might not know they're in the ballpark of all the other ones for sale and when you say hey this is the approximate value the pro's go buy it might give you some leverage.

 

[Wizard46]

NADA and Kelly is just that, a guide. It always boils down to what the seller is willing to get for it and what the buyer is willing to pay.

Neither book is going to change its prices because of yours or anyone elses deal.  They never take into account the current economic environment.

 

[Gary RV_Wizard]

The online NADA guide is based on average depreciation, not market statistics. And prices vary a lot around the country, depending on the season and what is in demand in that region.  I suggest that you go to a public library and see if they have a copy of the NADA RV Wholesale Guide, which has more definitive information than the online version.

But if your research has turned up actual selling prices (be sure they are not just dealer/website hype), that is your best measure.

 

[Just Lou]

I'm not too surprised to see a fairly large discrepancy between NADA and actual selling prices of niche market units such as the PW.  To some people it's the ideal RV and to others it may be just another large conversion van.  As Gary mentioned, the NADA suggested prices are based on average depreciation of the vehicle.

What do you suppose the NADA low book would be for a 1957 Chevy Impala using that rationale?

 

[westwardho]

Thanks to all for your responses. I am going ahead and buying this RV even though I've concluded it's somewhat overpriced. It's only a half-hour's drive away from me, which has given me the opportunity to take a male friend along for perspective, hang out in the van for some time, and talk directly to the mechanic who looked it over. There don't seem to be many Pleasure-Way Lexor TDs out there, either, just Excels. But I don't want an Excel -- the Lexor TD seems to suit me perfectly. So I'm taking the plunge. S2kskibum, I loved your advice, and I won't look back. Wish me luck, everyone, and I'll see you on the road... and probably even sooner on this forum again.

 

[Ernie n Tara]

westwardho,
Congratulations! Five years from now, you'll have forgotten you paid too much (if, in fact you did), but if it doesn't make you happy/suit your needs, you have to live those memories forever.
Ernie

One Note: If this is your first RV, you'll be very fortunate is it still suits you six months later. Many of us move up almost immediately as we learn. That is particularly true if you full time or really use it a lot. I bought a small "throwaway priced" RV first and then moved up when I knew better what I wanted (Turned out to be the same layout 10 feet longer, 10 years newer, and with a King size walk-around bed!). You drive a little, but you live in it a lot!