Has anyone noticed the dropping values of wanderlodges in the NADA guides? I
know they are just average prices and each coach must be judged individually but
the prices are really going down fast in the NADA guide.
This has been discussed extensively on WOG recently. NADA is not a good guide to use at all.
Markus
To:
WanderlodgeForum@yahoogroups.com
From: dangw@...
Date: Tue, 15 Dec 2009 22:42:16 +0000
Subject: [WanderlodgeForum] NADA Values
Has anyone noticed the dropping values of wanderlodges in the NADA guides? I know they are just average prices and each coach must be judged individually but the prices are really going down fast in the NADA guide.
Your E-mail and More On-the-Go. Get Windows Live Hotmail Free.
Sign up now.
NADA values are based on reported DEALER sales. They don't pick up private sales. Two factors these days, one, dealers are not willing to hang onto inventory for too long as values are declining, so they're more likely to accept a low-ball bid (if it's at all acceptable) than once upon a time. Two, dealer sales (from dealers who report to NADA) of Wanderlodges have always been "thin" -- so the NADA prices have also always been very hard to accept as realistic (sometimes too high, these days, probably on the low side).
On coaches more than 10 years old, the actual condition rather than statistical age starts becoming more important. The 20 year old coaches, condition becomes paramount. One 1989 coach can be worth $30K, while then next might be worth $60K. The condition is not clearly reflected in the NADA prices.
They are useful for a _very_ rough idea of prices, but hardly worth giving too much weight to them.
Pete Masterson
(former) '95 Blue Bird Wanderlodge WBDA 42
El Sobrante CA
"aeonix1@mac.com"
On Dec 15, 2009, at 2:42 PM, maureyroad wrote:
Has anyone noticed the dropping values of wanderlodges in the NADA guides? I know they are just average prices and each coach must be judged individually but the prices are really going down fast in the NADA guide.
If NADA is not a good guide, which guide is being used by financial lenders and insurers? After all, the lenders and insurers actually control and dictate the value of a vehicle. Of course, there are still those who have the cash to buy outright, but many must finance.
Sent via BlackBerry from T-Mobile
From: Markus Meyer
Date: Tue, 15 Dec 2009 18:09:03 -0500
To:
Subject: RE: [WanderlodgeForum] NADA Values
This has been discussed extensively on WOG recently. NADA is not a good guide to use at all.
Markus
To: WanderlodgeForum@
yahoogroups.com
From: dangw@...
Date: Tue, 15 Dec 2009 22:42:16 +0000
Subject: [WanderlodgeForum] NADA Values
Has anyone noticed the dropping values of wanderlodges in the NADA guides? I know they are just average prices and each coach must be judged individually but the prices are really going down fast in the NADA guide.
Your E-mail and More On-the-Go. Get Windows Live Hotmail Free.
Sign up now.
When I purchased my coach, the insurer accepted the purchase price as an "agreed" value. I did not finance the purchase. When I sold my coach, the buyer arranged for financing, and I was not aware or the value they used -- but the buyer put about 15% down, so it started off with positive equity. (I received payment from the buyer and from the lender, so I know the finance amount.)
The newer coaches (under 7 or 8 years) can be valued on a depreciation basis with some adjustment based on the general RV market -- but each lender will need to make their own determination as to an acceptable value.
When I was in the market to buy a coach, I looked at asking prices on the several web sites that had 'Birds listed. I also tracked several eBay auctions to get the selling prices at the time the auction closed. SInce I spent some months observing the market, I could be quite comfortable that the price I eventually paid was reasonable with respect to all the other WLs out there.
Obviously, a lender who has a longer relationship with you may be more flexible in their lending terms. While one lender might insist on using NADA value (because that's what they do) another might allow you to present information about the pricing to support the purchase price you're paying. Indeed, some lenders still consider your ability to pay the requested loan amount, your credit rating and payment record on other loans, as influencing their willingness to loan. In the days of inflated real estate (or assuming a high-equity situation, even with the depressed real estate prices) an equity loan against a house might be the easiest way to finance a coach.
Pete Masterson
(former) '95 Blue Bird Wanderlodge WBDA 42
El Sobrante CA
"aeonix1@mac.com"
On Dec 15, 2009, at 4:17 PM, "jburgessx2@yahoo.com" wrote:
If NADA is not a good guide, which guide is being used by financial lenders and insurers? After all, the lenders and insurers actually control and dictate the value of a vehicle. Of course, there are still those who have the cash to buy outright, but many must finance.
Sent via BlackBerry from T-Mobile
From:Markus Meyer <"markusfmeyer@hotmail.com">
Date:Tue, 15 Dec 2009 18:09:03 -0500
To:<"wanderlodgeforum@yahoogroups.com">
Subject:RE: [WanderlodgeForum] NADA Values
This has been discussed extensively on WOG recently. NADA is not a good guide to use at all.
Markus
To: WanderlodgeForum@
yahoogroups.com
From:"dangw@att.net"
Date: Tue, 15 Dec 2009 22:42:16 +0000
Subject: [WanderlodgeForum] NADA Values
Has anyone noticed the dropping values of wanderlodges in the NADA guides? I know they are just average prices and each coach must be judged individually but the prices are really going down fast in the NADA guide.
Your E-mail and More On-the-Go. Get Windows Live Hotmail Free.
Sign up now.