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Topic: How to buy a used LD (Read 5 times) previous topic - next topic
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How to buy a used LD
Yahoo Message Number: 20167
Well, I'm still looking for that "just right" used 26.5 mid bath, rear twin/king bed with cabover bed. I spoke with the owner of the 1990 in San Diego, but still have questions about pricing. NADA guide says MUCH lower than the asking price on most used LD, even at the high end. Is $26,000 a reasonable amount to ask for a 1990 26.5 with 51K miles? Of course options, and overall condition have to be considered as well... I would welcome comments (again) from you experts out there! Also, is $60,000 a reasonable asking price for a 2002 26.5? Wasn't the base price in 2002 around $62,000?

Linda
Re: How to buy a used LD
Reply #1 –
Yahoo Message Number: 20172
Quote
Well, I'm still looking for that "just right" used 26.5 mid bath, rear twin/king bed with cabover bed. I spoke with the owner of the 1990 in San Diego, but still have questions about pricing. NADA guide says MUCH lower than the asking price on most used LD, even at the high end. Is $26,000 a reasonable amount to ask for a 1990 26.5 with 51K miles? Of course options, and overall condition have to be considered as well... I would welcome comments (again) from you experts out there!
This seems a bit high, based on the price guide in the database section. I get a base figure of about $17,000.
But on the other hand, 51K is really pretty low miles for a 13 year old rig.  So, if it has been really well cared for and has some options, it could be worth it.  Was the 90 still on the E350 chassis? If so, it has much lower CCC than newer rigs.

Quote
Also, is $60,000 a reasonable asking price for a 2002 26.5? Wasn't the base price in 2002 around $62,000?
With options our 2002 MB was just over $65,000 before T&L, so again depending on options and mileage, it could be worth it.  Much less chance of a surprise with that new a coach.

Art
Art and Barbara
Settled in Atterdag Village of Solvang
2015-2022 fulltime in a 2016 Tiffin Allegro Bus 37AP
2002-2015 2002 LD MB
Art's blog
Re: How to buy a used LD
Reply #2 –
Yahoo Message Number: 20213
Linda,

First of all NADA is a GUIDE and is very rarely accurate for RVs because not all RV dealers join NADA and report their resale prices.
NADA being the National Auto Dealers Association looks at RVs from an automotive standpoint and all prices are averages not true high, low, and average, as many would assume. Since dealers get very few LDs to sell because most are sold by owners and they aren't sold through dealers from the start. Most units RV or Auto dealers get are more likely those in less than optimal condition or the owner had no idea what it was worth and how quickly they could have sold it and gotten more for it than trading it for a dealer sold RV. NADA has very little data to work with due to this and from reporting dealers and based on automotive values they come up with their quoted prices.
Therefore the prices they list in their GUIDE are not a good indicator of actual value for most RVs and LDs in particular. They also don't take into account supply and demand and that is a major factor in what a vehicle is really worth. If you looked at a much less durable and far lower quality brand of motorhome of the same year, size, equipment, etc you would get a price equal to or greater than a LD. Does that make sense to you? I'm sure it doesn't to most people who know the LD quality but that's an indicator of how far off the NADA Guides are! It is what most banks will consider as true value when considering how much they will lend you though so it can be a problem for some folks.

Even the database in this group is merely a guide based on average resale at the time it was created and using the best available data.
It does not mean that those prices are accurate and is meant only as a guide. It doesn't take into account for condition, options, and additional aftermarket equipment that may be in the vehicle. From the way I interpret the database those percentages are based on the current new vehicle cost, not cost at time of purchase. You need to add into the current base cost the current cost of any options and equipment included in the vehicle and then multiply it by the percentage to get an idea of whether the resale price is reasonable based on the average resale for that year. With average prices there is always high and low prices paid and condition must be figured into the equation.
 The bottom line is that the vehicle is worth what a buyer is willing to pay for it. What you are willing to pay and what someone else is willing to pay can be very different. Most vehicles that people in this group claim to have been priced "Too High" have sold and didn't stay on the market for a real long time. That says that they either got what they asked or close and both buyer and seller came to an agreement on what they both felt was a fair price based on the condition of the vehicle in question. Asking price is normally always negotiable and if handled properly the negotiations will normally result in a win-win situation for all parties involved.

Victor gave some good pointers for you to use to help you determine if any of these vehicles is priced fairly from your perspective. You should know what is available in the market and at what price and use that to determine what is a fair price for you and what you are willing to pay. LDs typically don't stay on the market for long even when some feel the price is too high because there are so many people looking for them and so few available. Supply and demand is on the side of the seller but that doesn't mean if offered a reasonable price and shown how you determined it to be reasonable that they won't accept the offer or counter it and negotiate further to allow you both to come up with a deal that is good for both parties. Since you haven't listed any optional or added equipment for any of these vehicles or their condition nobody can honestly answer your question as to whether the price is reasonable in their opinion on either.
Only you know what is reasonable to you!
 Personally I would go for the newer 2002 model for many reasons among them that the chassis would still be under warranty and it has more CCC. It will also have far fewer potential problems areas since it is much newer and has some parts of better or improved quality than the older vehicle including the plumbing.

Good luck whatever you decide on!

Mike
How to buy a used LD
Reply #3 –
Yahoo Message Number: 20196
Linda,

Yes, LD's will almost always be higher than NADA prices.  Now, is $26k a reasonable price?  It is high for that year.  I paid a $24k for my 91 MB with 62K miles about a year ago.  It does not have a generator, but it did come with hydraulic levelers, GearVendors O/U drive, directional solar panels, 1200 watt inverter, 17' AE awning, awning over kitchen window, custom made window shades, new batteries and all the service records since new.  The exterior & interior are in great shape.  The paint has a few chips and dings, but that's to be expected.  The other bad thing was the tires will 7 years old now, so I have to replace those.

The seller of mine were originally asking $28k, but I was able to convince them they were asking to much.  I first let them know I had been researching LD's for some time, so what I was about to tell them wasn't BS.
I then showed them ads from other used LD's that were fairly comparable.  I inundated them with my research and it made a difference.  In the end, they realized I was being very reasonable and gained there trust.  We were able to come to an agreement on price and everybody was happy.

The LD you describe would have to have a few goodies to be worth that much.  If it is clean and well taken care of, but does not have any extras, I wouldn't pay more than $24k. But that's me.  It may be worth more to you.
 It is built on the E350 chassis, so your CCC will be much lower than the newer units.

-Victor
Re: [Life With A Lazy Daze RV] How to buy a used LD
Reply #4 –
Yahoo Message Number: 20210
Victor,

Thanks for the input. It gives me more wind for my sails, so to speak. I have been keeping copies of for sale ads and the prices asked, but what I really need I guess is copies of final sales prices! You are the third person who has said that the original asking price was higher than what you paid. I guess when people get their LD's and name them they become part of the family, so they want a lot of money to part with them! By the way, when (I refuse to say if) I find the right LD I will name her also!---"Ruby" if she turns out to be a red one!


Quote
Linda,

Yes, LD's will almost always be higher than NADA prices.
Now, is
 
Quote
$26k a reasonable price?  It is high for that year.  I paid a $24k
for my 91

Quote
MB with 62K miles about a year ago.  It does not have a
generator, but it

Quote
did come with hydraulic levelers, GearVendors O/U drive,
directional solar
 
Quote
panels, 1200 watt inverter, 17' AE awning, awning over kitchen
window,

Quote
custom made window shades, new batteries and all the
service records since
 
Quote
new.  The exterior & interior are in great shape.  The paint has
a few chips
 
Quote
and dings, but that's to be expected.  The other bad thing was
the tires

Quote
will 7 years old now, so I have to replace those.

The seller of mine were originally asking $28k, but I was able to convince them they were asking to much.  I first let them know I
had been

Quote
researching LD's for some time, so what I was about to tell
them wasn't BS.

Quote
I then showed them ads from other used LD's that were fairly
comparable.  I
 
Quote
inundated them with my research and it made a difference.  In
the end, they

Quote
realized I was being very reasonable and gained there trust.
We were able

Quote
to come to an agreement on price and everybody was happy.

The LD you describe would have to have a few goodies to be worth that much.  If it is clean and well taken care of, but does not
have any
 
Quote
extras, I wouldn't pay more than $24k. But that's me.  It may be
worth more

Quote
to you.

It is built on the E350 chassis, so your CCC will be much
lower than