Alfa38User said:
Welcome to the group!!
You could start with N.A.D.A. and get some ball park figures based on depreciation alone. Do NOT add any options when using NADA. PPL Motor Homes also list recent sales prices. Other online sales outfits show asking prices. The condition is everything so expect to pay more than NADA for an RV in "uncommonly good" condition.
The present owner might be asking more than you think it's worth, but he may have an outstanding loan on it and does not want to end up paying off the difference between the selling price and the amount owed. (This is often referred to as being "underwater").
An inspection by an independent person or persons of the coach part and obtaining the maintenance records are good places to start. Tires greater than 7 years old (based on the date code stamped into them and NOT the condition of the treads) is a common reason to offer less. Those 6 -22.5 inch tires would likely go for close to $4000-5000 a set. At 20K miles the tread will be pristine and I would almost bet they are the originals (10 years old).
In the end, the fair market price is simply the price which a purchaser like you is willing to pay.
There have been a number of good suggestions provided and of note are those from "Gary RV Roamer" as he goes into detail on why a low mileage unit "may" not be as good as it looks and some of the issues with NADA pricing. I don't totally agree with Gary's comments regarding NADA but I do disagree on one comment and feel he missed another important NADA consideration.
Most people do misunderstand or use NADA pricing information incorrectly. As Gary stated, the common options included as standard equipment are included in the base NADA price. A small number of premium (high cost) options should be considered in pricing or at a minimum in a purchase decision. As an example a hydronic heating system may be an option and worthy of adding to a unit's value. Lower cost options are best left out of the NADA pricing equation.
You also have to be aware that NADA pricing is based upon "dealer" sales and its averaged across North America. These prices do not reflect private sale pricing which lack many of the advantages a dealer may offer. As an example, in my own recent 9 year old MH purchase, I was able to see the inspection report from when the unit was taken in on trade and all of the work orders showing what had been done to the unit. Their clean-up, repairs and new tires cost the dealership $13k. Most private sellers will not invest that kind of money in a unit they are selling though you'll likely have to do those same things out of you pocket, effecting the true purchase cost. The dealer also through in a starter kit with many of the base essentials required for a new MH and a 4-year nationally recognized warranty. I was also able to park at the dealer location for several days to experience a 3 hour introduction where one of their techs demonstrated how each and every button and item on the coach worked. During my next two days camped there I received answers to any questions that arose and when I spotted a scrape in the clear coat that was not previously noticed, they immediately called in a paint and body guy to address it. Private sellers simply cannot offer a similar level of service and that too impacts the value. As a safety note here, the value of the dealer service is dealer dependent - for some dealers it may even be a negative.
As an example of the above, the unit I ended up purchasing has a hydronic heating system (optional) and had a washer/dryer prep cabinet changed out for a larger cabinet equipped with a stacker laundry set. Below are the NADA number for the base unit as well as the same unit with these two costly options, both important to us.
NADA (base) List: $331,185 Low: $112,690 Avg.: $135,770
NADA (w/options) List: $331,185 Low: $117,020 Avg.: $140,990
As a side note, all my pricing negotiations referenced the base price only.
Now, onto the price and more importantly the amount of work you are willing to invest and your negotiation skills.
A fair price is simply a compromise between the asking and offer price that both the seller and buyer have agreed they can live with. I see myself as a hard negotiator and my motto over the years has been, "If you don't walk out the door, you have not gotten the best deal possible."
First, you must educate yourself on what comparable (virtually the same) units are currently available and form a basis for comparison, such as the NADA pricing. If I am looking at a number of units where year and model may differ, a spreadsheet that shows the delta to the NADA pricing helps identify pricing position. When I went to look at a MH, I was armed with this pricing
analysis and was able to easily demonstrate my purchase alternatives to the seller - you never want the seller to think his unit is your only option.
Secondly, figure out what the seller's weaknesses and your strengths. The dealer's weakness might be things such as how long they have been sitting on this unit while your advantages might be things like a comparable unit being offered elsewhere at a better price. If you make an offer, be sure to include an out based upon any deficiencies that may be identified during a professional inspection. It is also helpful to set a target price before making your offer and firmly stick to it.
