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Depreciation on Motorhomes
Something to look out for if you’re thinking of picking up a motorhome second hand or perhaps if you’re looking to sell on a motorhome is the depreciation rate. Like cars, motorhomes can be depreciated at a particular rate and the amount of depreciation is calculated year on year and will differ for each different model. Here’s a quick guide to the things that might affect your motorhome.
Model and New Price
Almost all new motorhomes depreciate as soon as you take them out of the showroom. This is partly due to the VAT which you can no longer recover but also a second hand motorhome just isn’t as desirable as a new one. The rate of depreciation after this depends on the model: some models are known for reliability and continued good service and others are known to fall apart a little bit quicker. In the same way, vintage or rare models might not depreciate at all – it’s all circumstantial. Glass’s guides provide for a good indicator, however, so check these out for an indicator.
These guides won’t take in any extras you bought with your motorhome, however, and things like Sat-navs will have been priced higher than their value at the dealer’s. You may have paid £500 on top of your purchase price when you bought it, but that’s probably only worth £100 to someone who could otherwise buy one for that price from the shop!
One of the most fundamental things to remember about motorhomes is they’re designed to last and a motorhome in good condition will be much more favourable. Motorhome insurance can help you cover the costs of repairing little damages and a good clean, service and regular tidy will help you maximise value when you come to selling on.
Depreciation is one of these slightly backwards ways of thinking about things but it’s good to have a grasp of the concept. Then if you’re buying a used motorhome you’ll be able to estimate roughly how much you should be paying and you can use these features to give you a good indicator and perhaps some tools when it comes to haggling!
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