When you buy a vehicle from new – whether it’s a motorbike, car or a motorhome – the financial value of it diminishes over time. This is the economic phenomenon known as depreciation, and the rate at which vehicles depreciate lessens as time goes on. Therefore, buying used motorhomes from rove! offers a significant advantage over new from elsewhere, as the rate of depreciation has already slowed down and the vehicle will retain its value for longer.
It is often humorously said that half of a new car’s value goes when it’s driven off the forecourt. That’s obviously an exaggeration, but you may be surprised to learn that the reality is not that far off. After just three years of ownership, a new car’s value will have depreciated significantly, and it may be worth only approximately half of the original purchase price.
In the case of motorhomes, although the concept is similar to the depreciation experienced with cars, it does vary slightly.
Research conducted by top leisure vehicle magazine website Camper Report suggests that, typically, after three years newly bought motorhomes have depreciated by approximately 30% to 35% of their original value. This rate of depreciation also slows the longer you own the motorhome. Even older motorhomes, if well-maintained, can sustain much of their value over the years.
This is why, for most people, opting for a used motorhome from rove! makes more sense than buying from new. You’re getting a well looked after, high quality vehicle with that whole large slice of initial depreciation taken right out of the financial equation! Therefore you’re gaining a vehicle which, over time, will retain a reasonable and predictable proportion of what you have paid. It could even be said that you are getting more value for your money.
Once you’ve purchased a used motorhome, there are ways you can do your bit to further arrest the rate of depreciation, or at the very least ensure it remains on the acceptable curve, to make sure your vehicle retains value. These include cleaning, proper storage and regular maintenance and servicing.
Making sure that regular maintenance and servicing of your motorhome take place is crucial. By keeping on top of recurring tasks such as oil changes, filter replacements, fluid checks and tune-ups, integrity of engine performance is maintained. Addressing other issues such as brake inspections and tyre rotations ensure safety and performance. Ultimately, a well-maintained used motorhome with a thorough service record will command a higher price when it is put on the resale market (or sold to a used motorhome dealership such as ours).
Regular inspection and maintenance of the chassis and mechanical components are essential for safety and reliability. Check the condition of tyres, brakes, suspension systems and steering components regularly – and address any issues promptly. Lubricating moving parts and tightening loose bolts (and other fasteners) will help prevent wear and tear, and prolong lifespan.
Ensuring that the motorhome’s appliances work is crucial as part of retaining some of its value. No-one wants to buy a pre-owned motorhome only to find that the radio is broken and only one of the cooker’s hobs rings works. Owners should regularly inspect appliances such as the refrigerator, stove, oven, air conditioner and heating system to prevent malfunctions and ensure optimal performance – and have them serviced if there are issues.
Regular washing and waxing of the exterior and will help preserve a motorhome’s appearance, and therefore its immediate appeal to potential buyers. It is also always worth inspecting the exterior bodywork for any signs of wear, such as scratches, dents, stains or rust, and dealing with them as-and-when to prevent further degradation. Keeping on top of minor repairs should prevent any minor issues from becoming larger (and more costly) problems further down the line.
Keeping the interior of the motorhome clean and well-maintained will contribute to retaining a higher proportion of its original value. Just like at home, a regular routine of cleaning and tidying is important. Regular hoovering of the floors and upholstery, dusting of surfaces and cleaning of walls, cupboard interiors and windows etc will all help prevent the build-up of dirt and grime. This will preserve the condition of the cabinetry, softy furnishings and fixtures. Additionally, cleaning vents and filters helps maintain interior air quality and prevents the build-up of dust and debris.
A basic but great tip to remember is that when your motorhome is off the road for any period (when it’s not in use during the week, say, or particularly during winterisation when it is off the road for weeks at a time) then it’s important to clear out the fridge and cupboards of any perishable foods. When it is not in use, proper storage and protection of the motorhome – both exterior and interior – are crucial. Storing the vehicle in a covered area if possible (a garage or a carport) will help to shield it from the elements. If it’s necessary to store it outdoors on your drive, using a breathable cover will help protect the exterior against UV rays, moisture and debris.
A used motorhome from rove! can truly be magnificent value for money and a great investment. For a start you will be getting ‘more for your money’ than you would if you opted to purchase from new, as your choice will have been well cared for by the previous owner, and it may possibly feature additions and enhancements as part of the price (rather than having to pay extra for ‘packs’, as with buying from new).
Most importantly, though the value of the motorhome you buy will inevitably depreciate over time, the large initial ‘off the forecourt’ amount of depreciation will have already happened to the original owner, and the rate at which the vehicle depreciates during the remaining years of your ownership will be less. If you follow the steps we have described in this edition of our blog, it should also retain a higher proportion of its value if there comes to the time you decide to sell it on.
So, then, in terms of value depreciation, opting for a used motorhome makes perfect sense!
