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06-22-2008, 06:48 PM
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#1
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Montana Master
Join Date: Jul 2005
Location: Fort Myers
Posts: 5,933
M.O.C. #4282
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NADA values realistic???
I am trying to figure net worth and such right now and I plugged my 2007 3400RL into NADA to see the value. It came back with a whopping $70,775 "Average Retail" and $58,665 "Low Retail".
I cannot believe these are anywhere close to actual value. If I turned that figure in to a bank, wouldn't I get laughed out the door???
And yes, I do know the market right now. However, I don't plan on selling it (right now anyway), so discount that variable.
Comments?
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06-23-2008, 02:06 AM
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#2
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Montana Master
Join Date: Feb 2007
Location: Winfield
Posts: 7,327
M.O.C. #6846
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That is cool, Dave. Now I can go trade the 3400 for a Big Sky and the dealer can pay me???? Ha!!!
Bingo
__________________
Bingo and Cathy - Our adventures begin in the hills of WV. We are blessed by our 2014 3850FL Big Sky (previous 2011 3750FL and 2007 3400RL) that we pull with a 2007 Chevy Silverado Classic DRW CC dually.
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06-23-2008, 06:18 AM
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#3
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Montana Master
Join Date: May 2007
Location: Montgomery
Posts: 502
M.O.C. #7196
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Visit the .pplmotorhomes website for their explanation of the Blue Book and NADA overestimates and what the SOLD prices for similar RVs are if a "true value" is desired. I paid well less than NADA for my used Montana.
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06-23-2008, 06:51 AM
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#4
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Montana Master
Join Date: Mar 2007
Location: Virginia Beach
Posts: 707
M.O.C. #6958
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I noticed the same thing the other day. My Rig used was worth more than I paid for it new.....
__________________
Bill and Lisa Rearick
2023 Grand Design Reflection 367BHS
2020 GMC SIERRA 2500 Denali, 8 ft bed, SRW, Duramax Diesel w/10 speed Alison Transmission.
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06-23-2008, 07:44 AM
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#5
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Montana Master
Join Date: Nov 2007
Location: Kville
Posts: 2,865
M.O.C. #7871
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I would not put much faith in NADA if the price for a used one year old model comes back as more than a new one...that does not compute.
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06-23-2008, 08:33 AM
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#6
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Montana Master
Join Date: Aug 2006
Location: Lone Tree
Posts: 5,615
M.O.C. #6109
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RRman - just curious - do you know the link on ppl motorhomes that shows the info you discuss? I couldn't find it.
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06-23-2008, 06:07 PM
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#7
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Montana Master
Join Date: Jul 2005
Location: Fort Myers
Posts: 5,933
M.O.C. #4282
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I guess my question is: Do financial institutions use these figures for their calculations - as absurd as they may seem - or do they use something else???
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06-24-2008, 08:44 AM
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#8
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Montana Master
Join Date: Jan 2006
Location: South
Posts: 2,499
M.O.C. #5140
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I found this a while ago. Notice the phrase: "...Professional (dealer) Version...". It's my understanding that one must pay for this book and its resources are not available for free, online.
In determining the wholesale and retail values we use the latest edition of the Professional (dealer) Version, of the NADA Appraisal Guides. The NADA Guide is nationally accepted and used by all RV dealers and lenders in the U.S. It is considered the #1 source for obtaining both wholesale and retail values.
We do not use the Kelly Blue Book because we have found the values to be on the high side and lenders and RV dealers don't rely on this source of information as much in determining TRUE VALUES. For this reason we only use the NADA GUIDES in determining values.
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06-24-2008, 04:33 PM
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#9
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Montana Master
Join Date: Jul 2005
Location: Fort Myers
Posts: 5,933
M.O.C. #4282
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I see the are comparing the Kelly Blue Book to NADA Professional Version. They are not comparing the NADA Prof Version to the NADA Consumer Version. Does that mean that the consumer version would be more in line?
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06-24-2008, 06:22 PM
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#10
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Montana Master
Join Date: Jan 2006
Location: South
Posts: 2,499
M.O.C. #5140
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Nope - the professional version is really all that you should look at. Cost is about $50 per year.
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06-25-2008, 01:25 AM
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#11
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Seasoned Camper
Join Date: Jan 2008
Location: Winter Springs
Posts: 69
M.O.C. #8088
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Your local Library has a copy of the NADA RV book the dealers use....and right now they are taking about 10% off of that for some Class A motorhomes. Not sure about 5ers.
Our Library is still free.....I think?
Bill
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06-25-2008, 05:25 PM
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#12
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Montana Master
Join Date: Jul 2005
Location: Fort Myers
Posts: 5,933
M.O.C. #4282
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I just want to know what financial institutions are using. Michael says they probably use the Prof version, but I still don't know how far off the "consumer" version is, though.
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