Sell Your RV for What It's Worth Part 2
In part 1 of our How to Sell Your RV Series, we talked about most of the prep work involved in getting ready to sell your RV while you’re living in it. This can be a challenge with four people eating and wearing clothes and showering and… well, breathing in said RV. Today’s post gets into the actual detailed account of how we sold our Sweet Sally in a short amount of time, earning the best possible price which was over and above what we owed on her. And we did that in the midst of purchasing a home in a new city.
Research and More Research
After researching how to price the RV from RVTrader.com and nadaguides.com/RVs, we thought we knew how to price the RV. But we were nervous and we were busy looking for a house, so we wondered if there was an even simpler way to do it.
Consignment and RV “Buyer” Agency
So, we looked at an RV Consignment dealer near us in North Texas and we spoke to a friendly, helpful gentleman on the phone. He politely asked what we were looking to get from the sale of the RV and what we needed to make to cover the remaining balance of the loan. He was able to look at a wholesale guide and he was able to give us a huge dose of reality.
Basically, an RV Consignment dealer is going to price the RV at what the seller wants, but based on the wholesale value of the RV, they are going to take their cut off of the difference. What that meant in our case, was that the consignment dealer’s cut was going to cut into any “profit” we were trying to make in the deal and we would either break even on the loan or owe a little extra. We didn’t have a high end diesel Class A to sell. All we had was a 9 year old sturdy but basic gas motorhome. It was in good shape, but it didn’t have a lot of bells and whistles.
We also contacted an RV “Buyer” that would offer you a cash deal for your RV and pick it up and handle all the details. This sounded great at a point in time when I was already nervous about selling the RV and when I was just wanting to move on and not. They were quoting even less than consignment and in the end, we decided that even though it would take the pressure off of us having to sell the RV ourselves, we would be better off pricing it a little lower than originally thought; but still leave some wiggle room to negotiate.
I got out our vlogging cameras and took several pictures for RVTrader.com and decided to also post a listing on Facebook Marketplace. I spent several more days prepping and cleaning and prepping again. Then we went above and beyond the call to put Sally in the best light possible.The video was nowhere where I hoped it would be but after days of rain and living inside, we just made it the best we could under pressure. Here is the video:
We made a video tour set to royalty free music and highlighted all of the great features that the RV had to offer the new owner. We set it up using all of the staging techniques listed in Part 1 and then we put the video on Youtube.
Listing the RV
Listing the RV on RVTrader.com and Facebook was the easiest part of the process. Because we did not know how long it would take to sell we paid for a year listing on RVTrader.com that at the time was $150.00.
And then we waited. And we hoped. And we prayed that we would sell the RV before we moved into our new house so that we did not have to pay for storage and deal with the hassle of meeting people at the storage unit for showings.
And then we had a few inquiries within a day or two from posting our listing on RVTrader. Those inquiries never materialized and we began to wonder if this would take months. The next week we heard from one or two people from RVTrader; but again, nothing came of it. And we became busy with getting ready to close on our new to us house and move in.
About a week and half after we posted on both RVTrader and Facebook Marketplace, we had our first showing. The inquiry came from Facebook Marketplace. They were located about an hour from our RV park. We prepped for the showing by cleaning the RV to look just like our video in the listing. And because there were all the smells from us living in the RV, we opened the windows and had some essential oils in the diffuser. Anything unnecessary including the vacuum and cleaning supplies we stashed in our tow car; along with all of our dirty laundry. Nobody needs to see that!
Showing and Finally Selling the RV
The first showing didn’t become a sale. And we wondered again how long this process would take. We kept working on the move and then we received another Facebook Marketplace inquiry. This lady was serious. She couldn’t see it right away, so she was willing to put down a deposit for us to hold it. She originally wasn’t even going to come look at it; which made me question the validity of the buyer. Everywhere I looked, it said don’t sell to someone sight unseen.
I took the deposit via paypal and then she had me contact the bank that would be handling her loan. It was from a small credit union which again made me think it was a red-flag moment. But instead of taking the call from the bank, I waited and then looked up the main number and called them. We were able to give them all of the information necessary for them to pre-approve the potential buyer. They asked for the NADA Value, our ownership and then our bank loan.
The next week, while the loan was being processed for the new owner, they finally came to view the RV. And I did some general research by looking at her profile on Facebook and noticing that she was not new to RVing and they had lost their RV a year prior in a fire. She knew what she was looking for and was ready to pounce. Tom showed them every detail about the RV and we had a great discussion about their family.
When it came time to handle the money, we had a few things to learn. Our bank that held our loan held the title. We had no title to give. We called our bank to find out all of the details of paying off the balance of our loan from another person’s bank. And we were an hour away from the buyer’s credit union so we decided to make sure everything was going to go through properly by going to their bank in order to handle the financials. We called our bank to get the final payoff balance. We walked in not knowing what to expect and walked out with a tracking number to track the payment being made to our bank and a check made out to us for the difference.
We thought to ourselves, we’re either about to walk into our new house (closing was just a day ago) or we were about to lose our shirts. We had never sold something like an RV and it was a bit scary. The couple was coming to pick up the RV that same evening and I’m so glad we had gone to their bank and seen them send off the payment to our bank and I’m thankful we received our part of the balance in hand and not the mail.
Saying Our Goodbyes
We cleared everything out of the RV the day after we closed on our house and were in the midst of moving. We cleaned up the RV one final time and met the new owners so we could give them a final tour of their new RV. We helped them learn Sally’s quirks and left them with a few gifts.
It was sad to see our home of over two years drive away; but we were happy to know that Sally would see many more adventures and have a new family to love her instead of being kept in storage. It all happened so fast!
In conclusion, we sold our RV using Facebook Marketplace. Our video made the difference in getting inquiries and ultimately a buyer within two weeks of listing. We got exactly what we wanted monetarily from the deal, $5k above what we owed on her. This was huge because we were told by the consignment dealer and the RV buyer that we could not get that much for the RV. I feel that because we did our research and because we weren’t greedy, we were able to ask and receive a fair price in a short period of time.
We sincerely hope that this information is helpful as you look to sell your RV. Doing the prep work, staging it like you would a piece of real estate, researching the correct value, listing in multiple places and following through on your part of the deal will ultimately pay in dividends.