Our top tips on how to minimise motorhome depreciation
Something to bear in mind when buying or selling a motorhome is the depreciation rate. Like cars, motorhome values go down over time and the amount of depreciation is calculated year on year. There’s not much you can do to stop your motorhome values depreciating. But there are things you can do to keep the value as high as possible.
Here’s a quick guide to the factors that might affect your motorhome’s value. And some things you can do to minimise motorhome depreciation.
Be cautious if you’re thinking about buying brand new
It’s always nice to have something completely brand new. However, more than likely, if you buy a motorhome brand new, it will depreciate. And that happens as soon as you take it out of the showroom. This is partly down to the VAT you will be unable to recover, but also because a second-hand motorhome is less desirable than when compared to a new one. The rate of depreciation after this depends on the model of motorhome. While some models are known for reliability and continued good service, others are known to fall apart a little bit quicker. In the same way, vintage and rare models might not depreciate at all – it’s all circumstantial. Therefore, it may be a better idea to purchase something pre-loved.
Like with most things, if you look after your motorhome, it will look after you. One of the most important things to remember about motorhomes is that they’re designed to last, and keeping yours in good condition will certainly act in your favour when it comes to motorhome values. Make sure you insure your motorhome, keep on top of repairing little damages and keep things clean, tidy and serviced. This will guarantee you can maximise the motorhome’s value when you come to sell – common sense, really.
If you’re buying a motorhome, don’t be easily swayed by the little ‘extras’. Things you think you might be getting for ‘free’, such as sat-navs or radio/CD players. Showrooms will bump up the price of a motorhome if it includes added tech. Therefore, these kinds of items will be priced higher than their value at the dealer. When it comes to selling your motorhome in the future, you might be surprised to find that buyers will find these ‘extras’ worthless and not worth the money, as they could easily buy one for cheaper at a shop and install themselves – for example, sat-navs.
Another key thing to remember is the importance of maintaining the original fixtures and fittings of your motorhome. Motorhomes hold their value the best when they are kept ‘as sold’. So, while replacing the curtains or carpets may seem like an effective way of personalising your holiday home, it may have a negative effect on the overall value of your motorhome when it comes to selling. If you have any questions about motorhome depreciation or buying a motorhome, feel free to speak to one of our helpful, friendly advisers today on 01623 631102.
