Thinking of Selling, but told prices are dropping like a stone (211 Viewers)

[Sue]

Very depressing..
We are thinking of selling our IH Motorhome… it’s simply time to move on, but we have been told that, although prices went up after covid, they are now dropping like a stone. The market is weak because the future is so uncertain
What does everyone think? Is this your experience?

 

[EuroTrotters]

I dont see prices dropping

 

[WESTY66]

Have you driven one? If not go for a test drive I think you will be surprised

Nothing to do with the drive, it’s the expense, I couldn’t afford one!
I have a 2k Kuga atm and that’s getting run into ground

 

[The Wino]

Nothing to do with the drive, it’s the expense, I couldn’t afford one!
I have a 2k Kuga atm and that’s getting run into ground

We did that years ago with a Corsa that we had for about 16 years then realised we could actually drive something newer at a similar cost with the extra economy saved swapping to a newer car that used less fuel ( a three year old diesel fabia).
I think at some point that's going to happen with electric.

 

[Brains]

This is an interesting topic in its own right.

In the UK 15 or 20-year-old cars are usually worth almost nothing. In other countries they are worth different amounts.

To illustrate: the car I drive in Portugal was imported from the UK by its previous owner. So it's a right hand drive and an oddity here.

However, a 2005 Nissan Pathfinder with over 200k miles would be worth very little in the UK. Maybe £ 3 - £ 3.5 k at a push?

In Portugal, when available (and LHD), they sell for € 14,000 - € 15,000.

The cars are equally 'useful', in terms of utility over their remaining potential service life, in the two countries, but their market worth is massively different.

Now introduce a market 'discontinuity' where you can no longer buy the thing new and the only available ones are of a certain age. What effect does that have? If demand continues to exist, they will of course increase in value.

In Japan, second-hand vehicles are almost worthless (and RHD).

There a a network of dealers in Japan who buy up vehicles of a certain make, model and spec and these are all shipped to the UK a few times per year where they are sold onto the Second-hand UK market where they are worth a lot more.

There is a network of dealers in the UK who buy up vehicles of a certain make, model and spec and these are all shipped off to West Africa a few times per year where they are sold onto the third hand Nigerian market where they are worth a lot more.

In Turn the Nigerians sell them on, and eventually the parts also are sold on further.

It would be quite common for a vehicle to have been made and sold in Japan, do 5+ years in the UK before doing a decade as a taxi in Lagos bere being reduced to parts in Congo

Maybe we will be selling our European Diesel powered motorhomes to an emerging market in the 2040's.
India would be an obvious choice.

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[LostInSpace]

The big big thing about today's oil powered motorhomes is that in ten years time they are all going to be worthless.

I don't think so. Could be the opposite.

Either way, I will not be too bothered. We are enjoying having it.

 

[Southend]

The issue with that is finding people that have the cash or finance becomes an issue ......... easy with a dealer..! In fact I once heard that used car dealers don't really sell used cars...what they sell is finance and the used car is the gift to promote it! Would think in many cases it's the same with MH's.

A good friend was looking for a van last year. He made a big thing of being a cash buyer and a local dealer told him cash was no longer king and that they make more selling finance.

 

[WESTY66]

Maybe we will be selling our European Diesel powered motorhomes to an emerging market in the 2040's.
India would be an obvious choice.

So basically thanks to the ****s in charge of the EU and U.K. we’re not allowed to pollute the earth, but others are, and we have to pay through the nose for the privilege.

 

[Brains]

So basically thanks to the ****s in charge of the EU and U.K. we’re not allowed to pollute the earth, but others are, and we have to pay through the nose for the privilege.

Not quite as simple as that, as if they want to export, they will need to comply as well.

A couple of decades from now the big polluters will be the USA (and maybe India)

 

[PlacidoD]

Only pay what you are comfortable with or walk away

That is exactly what I did. I bought near the top of the market in April this year (The Bad) from a decent trustworthy dealer. But I bought an affordable, modest mileage, pristine, re-upholstered 6 metre van from the Erwin Hymer stable with full service history and zero MOT advisories (The Good).
My thinking was to dip my toe in the water during 2024 and sell up in 2025 if it did not suit me accepting that there would be a modest loss if I did that. OK my loss if I were to sell in April 2025 would be maybe £2k larger than I figured but the loss would be modest and not a disaster.

As it happens I rather like van life. I am learning as I go along and I prefer having a modest investment sat on the drive that does not rule my life because of the amount of money tied up in it. (I have a lot of singing commitments, I still work and I don't want to feel forced to use the van on poor weather weekends like the next one!) I know what I would buy in the event of a decent lottery win or similar (A LHD Rapido C03 with "bells and whistles" but probably only when they get round to offering an auto box on the Boxer chassis) but meantime I have lots of other things I would prefer to spend my money on!!

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[PaulW2]

Maybe we will be selling our European Diesel powered motorhomes to an emerging market in the 2040's.
India would be an obvious choice.

By the 2040s we probably won't see India for dust, will we?

They've averaged better than 6% GDP growth for decades now and will probably continue this growth rate for a few decades more. They already own a good chunk of what was previously British industry (like Jaguar/Land Rover). And as I understand it they're pretty in tune with the move to non-ICE engines.

I would imagine that their fellow BRICS countries are likely to provide happier hunting grounds?

 

[Bobbejaan]

A good friend was looking for a van last year. He made a big thing of being a cash buyer and a local dealer told him cash was no longer king and that they make more selling finance.

That's quite a common business practice .... When we're buying something expensive majorly expensive which would normally by purchased on finance (which is very rarely), we never let on initially that we plan on paying by cash-via-CC and let them continue to think we're finance-buyers.

That way, we can milk them for all the "freebies & purchase-price discounts" because they think they'll make it all back & more on the finance, then we pull out the credit card when we've haggled down the final price to our satisfaction .... Seeing the consequent lokks on the faces of the sellers is sometimes "priceless".

Back in 1997, my Dad bought a 300-mile old brand new demo-registered Subaru Forrester from a canterbury dealer, and my soulmate did the haggling as she's FAR better at it than I am ..... When it came to paying the final agreed-purchase price (excluding finance) of circa £21,000, we pulled out my Dad's credit card and insisted on paying that way to the dismay of the dealer.

My Dad LOVED it as he had a Special Offer on his Card of One Airmile for every Pound spent at the time, and used that 21,000 Airmiles for his bi-annual trips to Spain for years afterwards.

 

[InvictaMoto]

My wife wants me to sell my GT750A as I hardly use it after a lockdown rebuild and about £4k spent. Apparently the market has dropped like a stone....

 

[The Wino]

A good friend was looking for a van last year. He made a big thing of being a cash buyer and a local dealer told him cash was no longer king and that they make more selling finance.

I suspect that the way that the market is now they would snap his hand off

 

[Roseandpeter]

We sold ours 3 weeks ago, it was on sale for 5 months, with Motorhome Depot, in the end we finished the contract and sold privately.

We got 4k less than we were hoping and 9k less than MD advised us. My thoughts are that for sure the market value has dropped, from what was an inflated level.

We registered interest in a new one, back in April, we had limited follow up calls until recently, we are now been contacted regularly, but don’t seem keen to offer much of a discount on a Hymer or Carthago, but happy to do so on such as Eldis, Benimar, swift, etc.

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[MisterB]

After reading through this thread, which as usual has drifted away from the OP's question, it has led me to question whether the price of stone is actually dropping .....?

 

[StillGoing]

At the moment, there isn’t a practical alternative to diesel motorhomes and there’s nothing on the horizon. Current battery technology isn’t the answer (weight, range, refuelling) and hydrogen is still at the experimental stage.

 

[Neilh]

After reading through this thread, which as usual has drifted away from the OP's question, it has led me to question whether the price of stone is actually dropping .....?

Yes

 

[chaser]

But why?
In ten years production of ice vehicles will stop production but diesel and petrol fuel will still be available for years to come.

But with ever deminishing places you can go with it.

 

[Simonjdcooper]

Another factor for the longer run is the demographic of people using motorhomes.
I get the feeling it's mostly retired people, perhaps who have downsized the house and have a significant chunk of cash available for pleasure.
There may well be a significant number of this demographic still around but its a diminishing part of the population and that may be playing into it.

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[Simonjdcooper]

Another factor for the longer run is the demographic of people using motorhomes.
I get the feeling it's mostly retired people, perhaps who have downsized the house and have a significant chunk of cash available for pleasure.
There may well be a significant number of this demographic still around but its a diminishing part of the population and that may be playing into it.

 

[Compusol]

We are currently looking to buy, but feel that too many dealers / sellers have priced vans too high and still at inflated covid levels. We don’t want to get caught out by buying at a high price whilst it is a falling market.

Other things we have noticed over the last few months: a good van from a reputable brand at a reasonable price does sell, there seems to be a preference for Euro 6 (2016 onwards) vehicles due to emission zones, and a shift towards PVCs / smaller motorhomes.

We’ll keep looking for the right van, but have been disappointed by the relative lack of private sellers compared to dealers (we’d prefer to buy direct). So there are buyers (like us) out there …

We have a 2012 Autotrail Savannah, which may be for sale sometime next year, and have regular knocks on the door asking if it is for sale.
When we say possibly next year at the right price, and mention a price more than what was paid for it, they give us their details and ask us to call them if that time comes.
Possibly a benefit of living on Guernsey as there are no motorhome dealers here, and importation tax is over 2k on motorhomes, so motorhomes for sale are quite rare!

 

[VXman]

Bought 2015

Well in that case you may get less than you might have got if you had sold it 1 or 2 years ago but not less than if you'd sold it in 2019 (relatively). Certainly nothing to be depressed about.

You will not have an option 5 years from now.

Production of diesel powered cars is already coming to an end.
With a complete stop by 2035 (which will probably be the last of the larger vans)

Plant machines and HGV's may continue for quite a while longer until EV catches up.

Of course there will be options in 5 years. Diesels are not banned for another 11 years. Even if manufacturers slow down production you'll still be able to buy them in 5 years time. Even if they did all disappear in the next 5 years you'd still be able to buy used. A well looked after diesel will last for 30 years or more.

 

[Wully]

Very depressing..
We are thinking of selling our IH Motorhome… it’s simply time to move on, but we have been told that, although prices went up after covid, they are now dropping like a stone. The market is weak because the future is so uncertain
What does everyone think? Is this your experience?

Advertised ours on Autotrader, sold in less than a week for a bit less than I thought but still good. Mind you it was a low mileage for year Hymer in really good condition.
I have viewed some total damp sheds stinking of dogs asking for stupid money…no wonder they don’t sell.

 

[swemmy666]

I have viewed some total damp sheds stinking of dogs asking for stupid money…no wonder they don’t sell.

So is that multiple dogs, or is that dogs...

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[Sdrawde]

By the 2040s we probably won't see India for dust, will we?

An answer (and probably a good one).

 

[Sue]

When did you buy it? If you bought it before covid then it won't be an issue as prices have just returned to normal.

If you bought it in the period of inflated prices then commiserations.

2015

 

[Sue]

Sue, have you actually been given a price for it? If so, how does that compare with what you believed it would be worth at 9yrs old? If not, until you get a price to sell/part ex...it's all purely speculation (or the dealer trying to soften you for a low ball bid?)

We were offered a price well below what I expected from Motorhome depot. They said MHs are not selling unless the price is very realistic ( by which he meant at least 10k less than last year… at least!)

 

[SpeedyDux]

But why?
In ten years production of ice vehicles will stop production but diesel and petrol fuel will still be available for years to come.

I bet that production of ICEs will continue long after the 2030-35 new sales ban applies across Europe and UK.

The BRICS trading bloc keeps growing and will create demand for ICE vehicles for decades to come. I foresee a new grey market for used ICE imports into the UK. Especially Japanese RHD ones.

 

[Simonnsj]

Funny thing is every time I want to sell something the market has fallen

that is so very true for all of us!!

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[SpeedyDux]

At the moment, there isn’t a practical alternative to diesel motorhomes and there’s nothing on the horizon. Current battery technology isn’t the answer (weight, range, refuelling) and hydrogen is still at the experimental stage.

Knaus has a prototype hybrid diesel MH on the road. Stellantis isn't offering a Ducato hybrid and possibly won't so it will be up to converters like Knaus to offer plug-in or self-charging hybrid diesel technology using a modified Ducato albeit at a cost premium.

Otherwise the future looks like EVs tugging lightweight caravans, with not much range between recharges.