Choosing the best path for trading in your RV may be difficult if you’re planning to do so. It is only after experiencing RV consignment that most people realize how challenging the process can be. RV consignment may not be your best option if you want to sell an RV quickly. Consignment involves giving over ownership of your RV to another party while maintaining ownership if this is your first time selling an RV. Phone calls, appointments, and financing are generally handled by this third party. RV owners have historically faced many obstacles along the way, even though it may seem simple.
It is surprising how difficult, expensive, and frustrating RV consignment can be for RVers. Read up on RV consignment before signing a contract.
Hidden costs of consignment:
You can make money selling your RV without spending any money. The cost of an RV you purchase on consignment may exceed your expectations. You can lose money when you sell your RV due to hidden costs that add up over time. A forfeit of a percentage of the RV’s sale price is common for consignment services. The exact percentage varies from company to company. You should also take into account the additional costs involved in consigning your RV.
Consigning an RV can come with hidden costs that can add up and affect your bottom line. While the RV is listed for consignment, you may have to store it yourself. So, if you are storing an RV, you will need to do so until it sells. If you are consigning at a low time of year, you may have to bear extra storage costs for a while. Professional photography, staging, and deep cleaning can add up over time. Prior to listing your RV on consignment, you will have to pay for all necessary repairs. A loan, insurance, or other red tape may also add hidden fees to your RV consignment.
RV consignment prices vary:
With RV consignment, the value of your RV is in the hands of the buyer. In most cases, you’ll be able to determine the bare minimum price that you’ll accept, and it’s also likely that you’ll sell your RV at that price if you sell it on consignment. Even RVs with the highest resale value can be sold on consignment for a much lower price than their actual value.
Logistic nightmares associated with RV consignment:
An RV consignment service operates on its own terms. Some dealers will hold onto your RV until it is sold, while others will keep it on their lot. Therefore, both are challenging and can cause headaches from a logistical standpoint. When you store your RV yourself until it sells, you must be available to give potential buyers a tour. If your RV is in storage, it may be particularly challenging to arrange for this at times that are convenient for you. Consignment companies that store RVs need to take into account additional considerations. Conduct research on the lot’s safety measures, security measures, and RV coverage to ensure your RV’s safety, security, and coverage during its stay on the lot. How will the RV consignment company handle repair costs if the RV is damaged on their lot?
Additionally, you will need to prepare your RV for showings, which requires logistical considerations. Throughout, it will need a thorough cleaning and cosmetic repairs.
Consigning RVs can take time:
RV consignment can be quite frustrating if you want the process to be over as soon as possible. This is because your RV cannot be sold until the right buyer is found. A slower season can make this process take longer.
Alternatives to RV consignment:
RVers who wish to sell their RVs quickly and easily usually sell them to RV dealers who purchase used RVs. Dealerships understand the value of RVs and are able to buy them in a timely manner. To trade without worry, headaches, or hidden costs, contact a reputable RV dealership whenever you are ready to sell your RV.