selling RV

[magee]

When trading in an RV, will you get a better offer from the dealer if your RV is paid off or still has a loan attached to it.?

Thanks

[Grumpy]

Doesn't make any difference.

[LuckyDuck]

I’d tend to agree with Grumpy, but here’s one random thought…If a dealer thinks you might be anxious to get out from under a big loan payment, might he be more likely to low-ball you, sensing desperation? If I’m all paid off, I’m not bleeding money and maybe not in as big a hurry?

[Grumpy]

Originally Posted by LuckyDuck

I’d tend to agree with Grumpy, but here’s one random thought…If a dealer thinks you might be anxious to get out from under a big loan payment, might he be more likely to low-ball you, sensing desperation? If I’m all paid off, I’m not bleeding money and maybe not in as big a hurry?

But he ask about a trade, so that means a new loan.

[LuckyDuck]

Ah, very true.

[CAG]

Originally Posted by magee

When trading in an RV, will you get a better offer from the dealer if your RV is paid off or still has a loan attached to it.?

Thanks

Won't make much difference with the dealer but it will to your bottom line. If your loan is not paid off, and you purchase something else, you are now rolling what was left of the other loan to the new. The new loan now has added, what was on the old loan and is that much larger. What is commonly known as upside down with your current vehicle.



Just my opinion but a good way to end up in financial trouble down the road.

[harryjr]

Originally Posted by Grumpy

But he ask about a trade, so that means a new loan.

I'm confused. Why does that mean a new loan?

Maybe he doesn't want the hassle of selling his existing RV privately. He wants to trade it in (sell it) to the dealer. It might have a loan. It might be paid off. He might want to finance the new one with the dealer, or elsewhere. He might have a suitcase full of money with him. Why does the word trade mean a new loan?

[Grumpy]

Originally Posted by harryjr

I'm confused. Why does that mean a new loan?

Maybe he doesn't want the hassle of selling his existing RV privately. He wants to trade it in (sell it) to the dealer. It might have a loan. It might be paid off. ?

His original question was "When trading an RV do you get a better offer"? Which has me to strongly believe that his current rig is not and he is looking at a new one. Nothing about selling or consigning.

[craigav]

Trading in an RV (or any vehicle) can add more complexity to the deal so you have to understand where all the numbers are coming from. Just because the current RV has a loan still on it doesn't mean that loan has to be "rolled" into the new loan as it is certainly possible that the Dealer will (for example) pay you 30K for your RV and you only owe 10k on it so that would be 20K reduction in the amount you need to pay (or finance) with the new purchase. Of course it could be the other way around and the amount required to pay off the existing loan is much more than the dealer wants to pay for your existing RV.

I will also add that at least here in Texas, a trade in reduces that sales taxes on what you purchase. Again for example only, if what you are purchasing cost 100K and you have a trade that the dealer will give you 50K for, then your resulting sales tax would be on the 50K remainder due instead of the full 100K selling price. ~CA

[LuckyDuck]

There’s a whole lot of unanswered questions here, like:
— Is the OP selling outright to a dealer or trading for another RV?
— If trading, is the new one more expensive or is he downsizing?
— What’s the loan payoff? Is it more or less than the residual value of the RV? (i.e. upside down?)
— Is the new one going to be financed? If so, is the amount more or less than what he now owes? Is the APR more or less than what he’s now paying?
Maybe the OP can clarify, but as Grumpy said, it likely makes no difference to a dealer.

[RogerR]

Never tell the dealer you are trading until you have cut the best deal you can for cash. Then ask what they will offer with the idea that you are thinking of selling it yourself. Do some research and see what others are selling for online and assume 20% , 30% or more is what the dealer can offer or they won't make a profit.
I have never traded as my brother was in the car business and helped me learn how to sell properly.

[2024Jayco26M]

What RogerR said... Never show your hand until you've got the best deal you you can get.
Factor in what they offer as a trade-in, this will reduce the sale price and therefore the sales tax.
If you can do a private sale, do the math and see what shakes out best.

[CAG]

As usual we made something complicated out of a simple question

[FISTEP]

If you have the time and are willing to do the work, it is almost always better to sell on your own. But, you do have to figure in the trade in value including the taxes. For our current trailer, I would have come out considerably ahead selling on my own but it was very much easier and quicker to trade in. I got lazy and decided it was worth the extra to avoid the work.

Now that I'm retired, I might feel differently next time.

[jetlag]

Originally Posted by craigav

Trading in an RV (or any vehicle) can add more complexity to the deal so you have to understand where all the numbers are coming from. Just because the current RV has a loan still on it doesn't mean that loan has to be "rolled" into the new loan as it is certainly possible that the Dealer will (for example) pay you 30K for your RV and you only owe 10k on it so that would be 20K reduction in the amount you need to pay (or finance) with the new purchase. Of course it could be the other way around and the amount required to pay off the existing loan is much more than the dealer wants to pay for your existing RV.

I will also add that at least here in Texas, a trade in reduces that sales taxes on what you purchase. Again for example only, if what you are purchasing cost 100K and you have a trade that the dealer will give you 50K for, then your resulting sales tax would be on the 50K remainder due instead of the full 100K selling price. ~CA

Same thing here in NC as well, at least on cars. My last truck, paid for, I traded as the dealer was desperate for used cars and made me a fair offer. The tax savings was icing on the cake.