Thinking of Selling, but told prices are dropping like a stone (26 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?

 

[Garry - June]

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.

Actually we have found there is an ever growing section of society... young people who cannot afford the crazy prices and rents of bricks and mortar who are seeing Motorhomes as an affordable way of living..

 

[DandJ]

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!)

OK, so was your expectation based on looking at recent sales ads or what you feel the van is worth ? I suppose everything will sell...it is merely dependent on what someone is prepared to pay for it and what the seller is prepared to accept.
Personally...I'd be looking at what I'd paid for it...the years of use (and nights in it each year) and deciding whether the offer was actually OK. The whole vehicle market, cars and motorbikes as well as MHs is skewed at the moment....I suppose it has been since Covid and people don't like the prospect of getting less than they could have done 12 mths ago ?
Advertise it on here. It may sell ?

 

[Peppadog]

If they want a 10k mark up, then surely selling it for say8k less privately is the best way to go?

We sold our Hymer about 18 months ago quickly though the brokers: motorhome Depot. We received more for it than I had dropped it to advertising it here. Give them a call. They will need about £3k commission, not £10k

 

[PaulW2]

Dont agree, small, low powered older cars are always in demand for newly passed youngsters.

But now compare the UK price of that car with the price in, say, Portugal

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[The Wino]

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.


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.

I think diesels will be available for years and in a motorhome doing relatively few miles a year even if the cost of diesel doubles it's still going to be a viable alternative. The only thing certain is that the landscape of what's practical and cost effective in decade is going to be different to now

 

[Brains]

Actually we have found there is an ever growing section of society... young people who cannot afford the crazy prices and rents of bricks and mortar who are seeing Motorhomes as an affordable way of living..

Now if I owned a large piece of land slated for development near a station with access into the centre of a large city it would do very nicely as a temporary M/H parking area.

The main problem with living in a motorhome and holding down a full time job is where you park it.

 

[PaulW2]

An answer (and probably a good one).

Interesting video, thanks, but slightly provocative emoji

 

[Wheelnut]

The big big thing about today's oil powered motorhomes is that in ten years time they are all going to be worthless.
They can't do anything but go down to scrap price.

not sure I agree there are secondhand electric cars costing £35000 going at dealers for £12000 ?
petrol cars still holding up. they will be making diesel motorhomes for many years yet, if and when they ban diesel
new motorhomes it want be before 2050 and then the will be proberly be hydrogen ! if then.
nobody is going to buy a 10 year old electric motorhome but people will still buy a 10 year old diesel one
don't forget from 2025 electric vehicle will have to pay road tax, it may be low now but will soon be as much as you
pay now. also nobody will be eligible to drive a electric motorhome because of the weight issue unless they hold a
C or C1 licence. have you seen how many over 3.5 ton motorhomes are for sale and now reduced prices
C or C1 divers are getting les and les every year and nothing yet about changing the license groups !
for me I cannot see any future for electric motorhomes so I am not afraid of buying a new motorhome in the future
not seen a charging point for one yet

 

[ianp]

I should think that the death of diesel will come about not because they are banned totally but because of the steady reduction of the zones in which they can enter....this in turn will lead to a reduction in volume and this in turn will lead to a reduction in the availability of diesel at the road side. 'Petrol' stations will slowly begin to reduce in number and in what they supply for 'normal' road traffic. Heavy plant and transport will have their own bulk supplies as their area of operation is known and planned unlike the freewheeling car or MH driver.......setting off to cross Europe will become a case of jumping from one reported fuel station to another with distances and closures ever growing.......a bit like todays electric charging points but in reverse......petrol (which will die out) and diesel will become niche forms of propulsion slowly giving way to electric and hydrogen conversions, either into older vehicles' or as new fits as the tech progress's. Restrictive zoning isn't sufficiently large as yet to spur on the conversion industry but it will come in time and as such used MH with replaceable diesels will maintain a value but its level will depend upon the availability and cost of the conversions........
Production of diesel and petrol (this especially) will reduce as demand falls which will become circular and lead to increased cost and reduced availability, a scenario that will also feed into the circular reduction....... the production of diesel might well become a cottage industry with enthusiasts making their own from heavier oils........or resorting to the use of vegetable oils of one form or another. None of this being illegal as fuel tax will soon disapear as reducing fuel consumption continually lowers the tax take and so tax will be 'pay per mile' based on vehicle classification and taken in the early days by the odometer miles covered between each MOT, later to be replaced by embedded chip built into the vehicle link to gps and external road side monitors......dawning the end for speeding and other motor enabled events.............

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[Peppadog]

A full list of assumptions and guesses.
An awful lot can change over the next eleven years, when new ICE cars can, under current rules, not be sold

 

[PaulW2]

A full list of assumptions and guesses.
An awful lot can change over the next eleven years, when new ICE cars can, under current rules, not be sold

What is the latest on this? It was 2030 (and 2035 for hybrids), then the previous government made it 2035, then the new govt said they would move it back to 2030, then...

As far as I can tell grand policies are announced, they come into contact with reality and they're pushed out. Or cancelled. Or changed. (Ref: HS2)
Much to the chagrin of manufacturers who have to plan major product development and production lines against a fickle political backdrop.

 

[Captain Yoghurtpot]

(Also, is the source of the insight that prices are dropping like a stone someone who will profit from taking the stone off your hands?)

Good point!

 

[Ditcha]

I always like to buy at the top and sell at the bottom, well not so much like but that's how it always ends

 

[Jacasino]

Remember: Almost no kid at school today will ever own a new vehicle powered by diesel and petrol.

That does not mean todays brand new vehicle will be worthless in 10 years time, but any Diesel powered vehicle will be obsolete in well under 10 years.
Another 10 years beyond that and the number of town restrictions in place limiting entry to EV's will force the old diesel vehicles off the road.

Anyone of us below retirement age will see the last diesels roll off the production line.

Our parents generation will have seen the last steam trains built (March 1960).
The last scheduled steam train was only 8 years later in August 1968.

I remember seeing the last scheduled steam train pass through our local station in 1967.
Todays school kids will remember the last diesel powered public bus, at some point in the 2030's.

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[n carley]

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?

Hi Sue. We have just sold our 3 year old Wildax Constellation 3XL via Mike Graves at Southern Motorhome Center in Bracknell. Give him a call he is very honest and knows the market very well. He sold our Wildax in 3 weeks in Sept this year. He is an independent company and will give you a realistic view regarding the current market. Good luck hope this helps. Their number is 01344455666.

 

[Neilh]

We sold our Hymer about 18 months ago quickly though the brokers: motorhome Depot. We received more for it than I had dropped it to advertising it here. Give them a call. They will need about £3k commission, not £10k

I think the pertinent remark is 18 months ago! Which is when we got offered 65k, today 55k. Agree with you about MD commission 3k, but in the end we found it easier, although not without some stress to sell privately.
I guess depend on the person working for MD network.

 

[Mullet Man]

Actually we have found there is an ever growing section of society... young people who cannot afford the crazy prices and rents of bricks and mortar who are seeing Motorhomes as an affordable way of living..

That may be true,but they're likely to keep them for a long time if the life style suits them. They're not going to be changing model every few years because they're fed up with the colour.

 

[DandJ]

The main problem with living in a motorhome and holding down a full time job is where you park it.

I suspect that a fair chunk of the ones doing this will be digital nomads and work wherever they go and park for the night/week ?

 

[jerryz]

reading a lot of financials it seems that the really big pension funds hedge funds, Investment banks and long term venture capitol funds are pouring Billions into OIL & gas over last 3 years and peanuts into Electric battery tech They are looking at the Maths and logic not the PC politics etc t ,, This is your money they are investing and they are not idiots ,, Its obvious now that EU, Japan , SEA , Africa , ME ,the Latin Americans and USA will roll back net zero ,, and most of the world is going be ICE for many many years

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[Sdrawde]

Interesting video, thanks, but slightly provocative emoji

Oops. Just realised. and not
Apologies.

 

[Brains]

I suspect that a fair chunk of the ones doing this will be digital nomads and work wherever they go and park for the night/week ?

I used to work with a number of digital nomads.

Mostly they lived by the beach somewhere, as they needed a room with a stable electrical and wifi connection, with space for several large screens and in a location close to an airport/station with cheap flights/trains to London.

Portugal and Spain were popular, as was Cape Town, and Cyprus. But mostly they were UK based, many on the south coast.

I don't think the Digital Nomad lifestyle would be really very suitable for a typical European Motorhome.
It might work in an American RV though !

 

[The Wino]

Lots of assumptions but remember it's not that many years that electric cars have been around and certainly not at everyday prices.
To the died in the wool sceptics what would you say to a diesel car that had really good performance and did 315 mpg the drawback being a relatively small fuel tank but with a limitless supply of diesel at home and network of fuel stations ( albiet expensive) around the country?
It's what we've just bought an electric car that does all those things and equates to 315 mpg if charged at home on an EV rate. It was £22 k new.
I think they're about to take off in high numbers.

 

[Spriddler]

To the died in the wool sceptics............

.........you should've taken your jumper off.

 

[Hirsch]

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.

echo echo echo

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[gus-lopez]

Yes, but increasingly they will have learnt on EVs and have an automatic licence!

& therein lies another problem

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

But you fail to mention that there mot test(shaken)* is probably the worlds strictest & why many change at 3 years of age when first test is due.
+ test cost between 500 & 1,000 pounds.
then if you pass it is the same evry two years to ten years & then yearly & why the majority get rid at 10 years of age.

* a it is estimated that 50% of new vehicles could not pass

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

Why? what is the emissions point then? same as when we had to change refrigeration gases back in the 90's at huge cost & sold the recovered gas to the "emerging markets"? Why not get them on board at the outset?

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.

Here,in spain, many dealers advertise with two prices .The lower is on finance & the dearer is for cash& usually around 1500-2000 euros more

they will need to comply as well.

But having worked with africans what has an "import licence " will be filled to the gunnels with stuff they wish to import.Rules are as long as it is inside the 'licenced import' then it is part even if it is 000's of tv's in a JCB.
Bloke here in our village buys trucks from Barca & Madrid , either sells on here or exports to africa.

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".

Here in spain you would just be shown the door. They wouldn't sell it to you.It would be established at the outset what & how you were paying & here it is usually 7 or 10 years purchase plans

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.

Here in spain it is far more younger working people. buying these days & plenty of them.Where I used to be the only one witha MH I now have at least a dozen in the surrounding local area . Every time I go to the ITV(mot) station ,that's 4 times in the last week they are knee deep in registering motorhomes & campers

But now compare the UK price of that car with the price in, say, Portugal

Exactly or Spain. The van I bought in 2019 with a view to convert would now cost me over double for the same vehicle, 5 years older & with even more kilometres on it.

not sure I agree there are secondhand electric cars costing £35000 going at dealers for £12000 ?

& herein lies a problem .I watched a programme the other night about the EU & U.S. & the manufacturers "pre registering " ev's to side step the fines for not selling the correct percentages. July/august .The "look at the sales figures up X% "
The general opinion & why all dealers are worried is that these are soon going to be unloaded on to the market & the bottom is going to fall out of what isn't that good anyway

have you seen how many over 3.5 ton motorhomes are for sale and now reduced prices
C or C1 divers are getting les and les every year and nothing yet about changing the license groups !

They will probaly have to align with europe. 4250kgs now allowed here in europe subject to country introduction ,which for spain is 1st january 2025

. Restrictive zoning isn't sufficiently large as yet to spur on the conversion industry

& has been ruled illegal& discriminatory here in both Madrid & Barcelona https://cities-today.com/madrid-to-challenge-low-emissions-zone-ruling/

A full list of assumptions and guesses.
An awful lot can change over the next eleven years, when new ICE cars can, under current rules, not be sold

But there are ways around that similar to what we used to use years ago.

 

[Puddleduck]

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.

But you fail to mention that there mot test(shaken)* is probably the worlds strictest & why many change at 3 years of age when first test is due.
+ test cost between 500 & 1,000 pounds.
then if you pass it is the same evry two years to ten years & then yearly & why the majority get rid at 10 years of age.

* a it is estimated that 50% of new vehicles could not pass

My lovely Toyota HiAce minibus was an ex-Japanese Taxi. It was 17 years old when I lent it to someone with very strict instructions to keep an eye on the oil levels - which he failed to do and the engine seized.

 

[Jacasino]

Just to take us a bit further off topic

Vauxhall starts UK fleet trials of hydrogen vans

The first fleet trials of the Vauxhall Vivaro Hydrogen are now underway ahead of the arrival of the Movano Hydrogen later this year. Already sold in left

fleetworld.co.uk

 

[jerryz]

Most 3 year old Japanese cars are bought up and sold In Africa , UK ,Australia etc anywhere where RHD is used .Or dismatled for parts industry worldwide large numbers of Japanese engines and gearboxes are imported to Thailand as replacements .
The strict 3 year expensive its called JCI or ''Shaken'' its partly safety but also a way to ensure large numbers of new cars made in Japan are sold so keeping production high in Japan .
back in 2005 I bough a 3 year old Ducati S4 Monster in Thailand that was imported from Japan ,, The bike only had 3894 miles on and was like new but due to ''Shaken'' its was exported .. i still own that bike and its been all over SEA even to Burma