Motorhome values

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Motorhome values

Post by steamdrivenandy on Tue Apr 05, 2016 9:17 am

Back in 2008 I purchased a brand new motorhome (not A/S) for £35k and sold it privately in 2010 for £29k, having been offered £25k for it by Spinney.

That same model, with a few minor decorative changes is now selling at a fiver under £50k, so about a 40% price increase in 8 years which seems totally unjustified given the rate of inflation over that period.

What's more annoying is that 6 years on from me selling one dealer is offering a used '08 model (with about £2k of upgrades from mine) at £32k and another is selling a poverty spec. '08 model at about the price I sold mine.

Has the world gone mad in the interim, or didn't those last 6 years actually happen?
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Re: Motorhome values

Post by -mojo- on Tue Apr 05, 2016 11:02 am

If people are still buying them at the "inflated" price then perhaps the manufacturers are getting the price right!

It seems that a major factor in the pricing is the large number of "just retired" with their 25% tax free lump sum in hand wanting something to spend it on. I suspect that as current changes to the pension system work their way through, this pool of "easy money" will dry up, but it will take a while yet IMO...

I should add that this is not me being judgemental about the "just retired", but observation of the age profile of people that I see buying new or nearly new camper vans.
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Re: Motorhome values

Post by steamdrivenandy on Tue Apr 05, 2016 11:52 am

I suspect you're absolutely right regarding the retirement 'pots' Mojo and since the freeing up of pensions over the last few years the sums avilable will have increased. Also, as you say the availability will decline as those with large final salary pension entitlements disappear from the books. 

I suspect the sale of motorhomes would be much, much harder if those lump sums weren't involved.

The trouble is the sale of new vans at inflated prices has meant that used vans have stayed at higher prices as they tend to be relative to new values.

As I said I sold my last van at 2 years old for 83% of its purchase price which automotively is an excellent value to get, but those same vans 6 years later are on dealer's forecourts at virtually the same price. I remember when Spinney offered me £25k for it he muttered that he could see it on his forecourt for £30k. Weirdly if he had it in stock now he'd still be offering it at £30k but with 6 years more wear and triple the mileage. It just defies logic.
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Re: Motorhome values

Post by daisy mae on Tue Apr 05, 2016 12:57 pm

Sold my 2002 Topaz for more than I paid for it after fourteen months use. I see MH as an investment really as you get nothing in interest these days, even my ISA`s interest  has gone down and is now laughable, not. So spend spend seems to be the way to go. I will never go down the new route, too many technicalities and the build.
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Re: Motorhome values

Post by pablo on Tue Apr 05, 2016 8:28 pm

I think the moral here, IMHO, is don't buy new! Firstly you get hit with big depreciation and secondly warranty hassle. Decide on the model you want buy looking round dealers, going to shows etc. Then buya low mileage, 3 or 4 year old model, in vgc, with full paperwork PRIVATELY preferably in the late autumn or January and preferably from someone who sadly is having to give up motorhoming. You may have to travel. Give it, (or get it) a good thorough lookover, check everything works make sure it is MOT'd and habitation checked prior to purchase. I don't think you can go far wrong, I mean if the van has done only 12000 miles or less in 3 years it's going to be half run in and in good order isn't it? And these are not in short supply either. wave
Then when you come to sell in 2 years time ( don't hang on to it too long), sell it privately, (preferably not in the autumn!) with all the paperwork etc up to date. The van will have held its own on value as price inflation generally cancels out a higher mileage assuming you have not driven thousands of miles. in this way you will have the use of a newish van for 2 years and apart from running costs it will have cost you very little.
Other benefit of buying this way is you generally get all the expensive accessories as part of the haggling, and when you come to sell you can haggle them again to get a good price for your private sale - a 5 year old van in good nick, much cheaper than the dealer can give. Make sure you advertise it on a website where you can rank the vans in "price order" so yours looks much better value than the dealers model of the same year.
Finally you have to be a cash buyer of course! What can possibly go wrong! wave
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Re: Motorhome values

Post by steamdrivenandy on Tue Apr 05, 2016 8:44 pm

It's the margins that stagger me with motorhomes.

You can reckon that a caravan dealer will price a used van for £2,000 or so above buying in value, the same as car dealer's generally do. But motorhome dealers price at £5,000 above buying in value and in today's market they can hardly say the product doesn't turn over quickly enough.
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Re: Motorhome values

Post by daisy mae on Tue Apr 05, 2016 9:15 pm

The reason being most give a 12months warranty, I had one with Spinney, it covered habitation as well as vehicle mechanically, , if anything went wrong it was covered, I bet I had over a £1000`S of work done with no hassle. including two complete new side windows, a windscreen, front headlight, gas strut on Heki 2 ,all windows resealed with new seals as AS  had changed their design for better ones. I would go back there . just my findings.

 I was lucky with the first one I bought privately and sold it privately,  I was a cash buyer for both,  but didn`t get a lot off the asking price as dealers make money on loans. in the old days it was the norm to get a good  reduction for cash,
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Re: Motorhome values

Post by Libraryman2 on Tue Apr 12, 2016 8:42 pm

An interesting post that makes some sense, my wife and I are retired and have just ordered a new Motorhome!
Not because we have had a windfall from our pension pot but because we worked for over 40 years and saved.
The final salary pension certainly helps but I suspect that at least some retirees just like us find that our savings are just hopeless locked away and in our 60's it's better to enjoy the fruits whilst we can.
With respect to new vs second hand, when you are in the position outlined above; a few grand ( relative to the purchase price) spent receiving excactly what you want and without the hassle of the search can seem worthwhile, however the value point is valid and well made.

Ray
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Re: Motorhome values

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