Caravan Valuation Guide
Want to know how to value your touring caravan? Maybe you are getting ready to sell your touring caravan. Maybe you are changing caravan insurance companies. Or maybe you simply want to learn more about your caravan.
Regardless of your situation, there may come a time when you want to value your caravan. But as you know, trying to understand a touring caravan price guide, is easier said than done. There are several details that deserve your full and undivided attention. By focusing on each and every one, you will eventually have a basic idea of what your caravan is worth at the present time.
When it comes to the value of your touring caravan, there is nothing more important than the condition. You should answer questions such as:
· Does your touring caravan have any exterior or interior damage?
· Does your touring caravan look brand new, or can you tell it has been used over and over again?
· Is there any damage that prohibits the touring caravan from performing in a safe and efficient manner?
· Has the caravan got a record of regular servicing undertaken by a reputable caravan service centre?
You purchase a touring caravan because you want to hit the open road. You can’t always be worried about the condition, as this will drive you crazy with each bump you hit. Even so, since you want your caravan to retain its value, proper maintenance and care is a must.
Some touring caravans are packed full of extras such as a fitted caravan motor mover while others include nothing but the essentials. When using your caravan, the only thing that matters is that it suits your wants and needs. When it comes to putting a value on your caravan, extras are always taken into consideration. As a general rule of thumb, more extras equals a higher value.
You purchased your touring caravan for a reason: because it provided everything you needed at the time. While you probably paid attention to the size, this may not have been something you obsessed over. Instead, you realised the caravan was large enough for you and your family, which is all that mattered.
When valuing your touring caravan, size is always a big factor. Bigger may not be better for you, but it typically means a higher value. For example, the Sterling Continental 530 has an external length of 23 feet and an external width of 7 feet and 5 inches. This isn’t the largest touring caravan, but it’s definitely not the smallest either. When it comes to value, if all else is equal, this caravan will be worth more than one that is smaller.
4. The Used Caravan Market
You can spend a lot of time reviewing the condition, features, and size of your touring caravan, but this will only take you so far. At some point, you need to examine the used touring caravan market. Use filters, such as the make and age, to find caravans for sale that are similar to yours.
If possible, focus on the caravans that most closely resemble yours. If you can find an exact match, there won’t be much guesswork in regards to what your caravan is worth. After all, it’s the market that sets the price.
5. The New Caravan Market
This may be obvious but nobody is going to purchase a used caravan at a new price. It doesn’t make sense for them to do so. As you value your caravan, keep this anecdote in mind.
Here is an example: you are the proud owner of a 2012 Lunar Ultima 534. If priced to sell and in good condition, it won’t be long before it’s changing ownership. But here is the key: it must be priced to sell. If you attempt to sell this caravan at the same price as a 2016 model, consumers will balk. For the buyer, it makes more sense to spend their money on a new caravan, as there are no concerns regarding the condition or age.
6. Time of the Year
Along with the above, the time of the year may dictate the value of your touring caravan. If you aren’t selling, this doesn’t mean much. But if you are ready to put your caravan on the market, it’s definitely something to consider.
During the spring months, when people are preparing to go on holiday, the market heats up. This means that your caravan may sell for more money, as demand is higher. Conversely, when the weather cools off, there aren’t nearly as many people in the market. This means that the price you can command won’t be nearly as high. Time of year doesn’t have much to do with the actual value of your touring caravan, but it will have an impact on the sale price.
Answer these Five Condition Related Questions
Since condition plays such a large part in valuing your touring caravan, it’s a must that you spend additional time on this detail.
Here are five condition related questions to answer:
· What is the overall condition of the paint and body?
· Has the exterior or interior ever received any major repairs?
· Is the windows clear, scratch free, and in good working condition?
· How would you best describe the condition of the tyres and wheels?
· Is there any noticeable damage that is in need of immediate repair?
If you answer these five questions, you will never have to wonder about the condition of your touring caravan. You will know exactly how it stacks up to the market.
There is no exact science to valuing your touring caravan. The best thing you can do is follow this advice, which includes spending a lot of time inspecting your caravan and researching the market. Is there any other way to place a value on your touring caravan? Have you taken on this process in the past? Share your thoughts in the comment section below.