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Topic: is 100K miles too high for a 2005 if selling for 33K? (Read 679 times) previous topic - next topic
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is 100K miles too high for a 2005 if selling for 33K?
well...we survived the 1st few look sees, the hunt is still on to find the right unit for us. were in GA, and found one in FL, but in the beginning of our search 100K miles was not attractive..I just hope were not letting our standards down when buying a used LD.  Just don't want to get impatient and buy the unit that will need a lot of $ invested.
Re: is 100K miles too high for a 2005 if selling for 33K?
Reply #1 –
the unit I'm referring to in on RVTRADER the 2005, but inside pics not posted yet..anyone know this unit? what are your thoughts? 
Re: is 100K miles too high for a 2005 if selling for 33K?
Reply #2 –
Hello Laura.  One of the LDOs posted (today) the results of an oil change analysis she just received and it showed that her engine is in great shape.  By all accounts, this LD owner takes wonderful care of her Rig.  Her Rig has 109,000 miles and if we were in the market and her LD was for sale, we'd buy it. 

So a high mileage LD is not necessarily a deal breaker if (and a big IF) it was properly and regularly serviced by qualified mechanics.  The RV Trade LD has 107,000 miles and states they have all the maintenance records.  The owner would need to show us those records of all the required services.

In addition, the LD price chart at Used Lazy Daze Prices (2018 Version) shows a 2005 MB price is somewhere around  $28,600.  So this seller is asking about $5,000 more which is high IMO.  At the end of the day, it's very difficult to determine a fair market price for a used LD without a qualified inspection of all the mechanical and RV components.  If we were looking for a used LD and if it was convenient for us to see it for ourselves we'd arrange an inspection.  Our counter offer might not please the seller.
Re: is 100K miles too high for a 2005 if selling for 33K?
Reply #4 –
The only way to really know if the price is too high is to watch and see if anyone buys it. 

Even though the year is adjusted annually (now 2018), the data used to create the Used Prices Chart are getting stale.  I think it's a decent mid-line or guide, but it probably doesn't reflect the current market.  It would be nice if someone would undertake the task of tracking the used market for a while and updating the data.   

For example, I think actual used prices got a bit behind (lower than) the Used Prices Chart 7-8 years ago when gas was $4 a gallon, unemployment took a spike, and the stock market was in the tank. 

My unscientific feeling is that the actual used market prices are probably a bit higher than the Used Prices Chart these days.  The mothership has a very long backlog for new units.  Campgrounds are seeing higher occupancy.  RVs of all types are selling in record numbers, all indicating strong demand.  Overall, stocks are at highs, while gas, unemployment, and interest rates are still pretty low.   

This probably sounds like rambling, but my point is just that the Used Prices Chart is probably a bit outdated and RV prices across the board have increased.  I think this has affected the used LD market as well. 

The actual market won't lie.  If it's overpriced, we will know because it won't sell.

Rich
'03 MB in NC
2003 MB
Re: is 100K miles too high for a 2005 if selling for 33K?
Reply #5 –
I agree with Rich.  I have observed used later model LD's, most likely due to the backlog of orders from the factory, sell for significantly higher amounts than what the chart shows.  It depends on condition, options and how well it has been maintained as many have stated.  Get an inspection by all means if unsure...…………………..

Gary
2007 30' TB
 
Re: is 100K miles too high for a 2005 if selling for 33K?
Reply #6 –
Rich said...”It would be nice if someone would undertake the task of tracking the used market for a while and updating the data”.

I agree, Rich. You’re hired.

After National Interstate Insuance Company backed out of the RV market, I’ve found a large disparity in what RV Insurance company’s are willing to pay out for a “Total Loss” claim. Progressive offered a $60,000 valuation for our ‘15 RB while National General was as low as $50,000 according to my AIS representative. They would accept a licensed Appraisers Value but then we still have the problem of “true value” according to market value.

I contacted National General about their websites claim that they would give “Full Replacement Value” for an RV within the first 5 years of manufacture. The catch is that the RV owner would have to prove that the stated value was accurate.

With infrequent and difficult to variety LD sales data, the prospect of satisfying an Insurance Companys request for value could present a difficult task as we’ve seen in the past when members on LDO have claimed total losses of their prized Lazy Daze. So that brings us back to “verifiable proof” and of course Rich’s task of helping us all out. 🧐

Thanks Rich. We all appreciate your volunteerism. That’s what makes America great. That and a trustworthy insurance company.

Kent  
2015 27' RB "MissB.Haven"
Re: is 100K miles too high for a 2005 if selling for 33K?
Reply #7 –
I also applaud Rich's volunteerism!

Gary
2007 30' TB
Re: is 100K miles too high for a 2005 if selling for 33K?
Reply #9 –
Quote from: Kent Heckethorn  - 
Rich said...”It would be nice if someone would undertake the task of tracking the used market for a while and updating the data”.

I agree, Rich. You’re hired.

.....

Thanks Rich. We all appreciate your volunteerism. That’s what makes America great."

Kent  

Glad to help.  I'm on track to have the project completed just about the time that the mothership rolls out their new electronic ordering system which will accept deposits via ApplePay. 

:)

Rich
2003 MB
Re: is 100K miles too high for a 2005 if selling for 33K?
Reply #10 –
Quote from: rich  - 
The only way to really know if the price is too high is to watch and see if anyone buys it. 

Even though the year is adjusted annually (now 2018), the data used to create the Used Prices Chart are getting stale.  I think it's a decent mid-line or guide, but it probably doesn't reflect the current market.  It would be nice if someone would undertake the task of tracking the used market for a while and updating the data.   

For example, I think actual used prices got a bit behind (lower than) the Used Prices Chart 7-8 years ago when gas was $4 a gallon, unemployment took a spike, and the stock market was in the tank. 

My unscientific feeling is that the actual used market prices are probably a bit higher than the Used Prices Chart these days.  The mothership has a very long backlog for new units.  Campgrounds are seeing higher occupancy.  RVs of all types are selling in record numbers, all indicating strong demand.  Overall, stocks are at highs, while gas, unemployment, and interest rates are still pretty low.   

This probably sounds like rambling, but my point is just that the Used Prices Chart is probably a bit outdated and RV prices across the board have increased.  I think this has affected the used LD market as well. 

The actual market won't lie.  If it's overpriced, we will know because it won't sell.

Rich
'03 MB in NC
As we all know by now, the Used Prices Chart is just a guide and if we realize that the market is hot, a few bucks should be added to the asking price to compensate therefor. When/if the chart is generated for 2019, perhaps the author will adjust acordingly. 

Chris
Formerly: 2002 30' IB
Re: is 100K miles too high for a 2005 if selling for 33K?
Reply #11 –
LD pricing is a rather inexact art, for sure. We bought a used 2005 RB in 2009 as an upgrade from our first LD, a new 2002 FL. The 05 RB popped up one morning on the LWALDRV forum with a VERY reasonable price. I called the seller and learned that the rig was equipped just as we were seeking. He sent me some pix and foregoing all sense, I told him I’d pay his asking price sight unseen. The rig turned out to be just as he described and we felt we had gotten the deal of the century.

Eight years later we made the heart-rending decision to sell. But thanks to our low purchase price I was able to set a sale price that was lower than anything similar available at the time. The rig sold in just a week or two. We lost only 10K after 8 years of ownership. It had about 90,000 miles when we sold it.

Now I see our rig is again for sale after only a year for 10K less than the current owner paid. If it’s in the shape it was a year ago, it’ll be a fantastic deal for someone.
Re: is 100K miles too high for a 2005 if selling for 33K?
Reply #12 –
Quote
We lost only 10K after 8 years of ownership. It had about 90,000 miles when we sold it.
  That's $100/mo, or $.11/mile - not bad depreciation.   :)
Joel & Terry Wiley
dog Zeke
2013  31 IB   Orwan   / 2011 CRV Tow'd LWEROVE
Re: is 100K miles too high for a 2005 if selling for 33K?
Reply #13 –
Quote from: rich  - 
Glad to help.  I'm on track to have the project completed just about the time that the mothership rolls out their new electronic ordering system which will accept deposits via ApplePay. 

:)

Rich

I heard the mothership is planning to accept Bitcoin.
Re: is 100K miles too high for a 2005 if selling for 33K?
Reply #14 –
Hilarious!  They can't accept credit cards or PayPal, but they can take bitcoin?  I can't stop laughing.
Kristin
1997 MB
Re: is 100K miles too high for a 2005 if selling for 33K?
Reply #15 –
Steve Newton might know what Bitcoin is, but he'd probably have the same opinion of it as I do. It better say 'U.S. Legal Tender' on it! RonB
RonB (Bostick) living in San Diego
Original owner of "Bluebelle" a '99 TKB
Re: is 100K miles too high for a 2005 if selling for 33K?
Reply #16 –
Quote from: Kristin Lambert  - 
Hilarious!  They can't accept credit cards or PayPal, but they can take bitcoin?  I can't stop laughing.
Kristin
I thought their expansion was that, in addition to accepting a check, they will now accept a cheque  if drawn on American funds.
joel
Joel & Terry Wiley
dog Zeke
2013  31 IB   Orwan   / 2011 CRV Tow'd LWEROVE