How to value my caravan? It’s a question many caravan owners need to ask themselves for any number of reasons.
You might be looking to finally let go of a trusty old travelling partner, and want the best deal to fund your new caravan, or it could be down to insurance purposes.
Either way, it’s key that you understand both the market value and how to estimate the second-hand value of your touring caravan.
When it comes to your Caravan Insurance you may be considering one of two options:
Market value is all about what your caravan is worth on the current market. So, to get a full picture of the market value of your caravan it’s all about research. You should take your time to consider and gain a full understanding of:
By searching online and finding where people are selling caravans, you’ll get a picture of the potential market value of your caravan. This isn’t an exact science, but by looking at websites such as Gumtree, eBay, Autotrader and Preloved, you should be able to find similar models to your own (or an exact match) and see how much they are going for.
This will give you an idea of the current market value in your area at the time.
Don’t just base your research on what’s selling online and how much for. Also, consider speaking to the manufacturer, asking at the dealership where you originally bought it, or consulting the Glass Caravan Guide to get the Glass Retail Value.
The current market will be subject to market forces such as demand for specific models or types of caravan. Another factor is the time of year, as the beginning of spring season will see an increase in demand.
This could also occur if caravanning is undergoing a resurgence in the face of increased prices for other forms of holidays, for example. All of these factors will potentially push the market value up.
Market value is one thing – when it comes to estimating the second-hand value of your touring caravan, it’s all about the details of your specific caravan, what it’s been through over the years, and its current condition.
The following factors will all play their part:
Age: In most instances, the older a caravan, the less it will be worth.
Condition: If you’ve looked after your caravan and it’s in good condition, then it will more likely attract a higher price.
Service history: A caravan with a good service history from a reputable caravan service centre will be an attractive proposition for a buyer.
Extras: If you’ve fitted your caravan with any extras such as an awning, a caravan mover or an air conditioning unit, it’s likely to attract a higher value than a similar model without.
Consider the following questions:
These are all key factors to consider and all will have an impact on its possible value.
The value of your caravan is likely to depreciate with age, although there are plenty of things that you can do to ensure it holds as much of its value as possible, such as ensuring it has a good service history, is kept in good condition, is repaired as and when it’s needed, and is generally well looked after.
Whether you’re looking to sell or to get the right insurance in place, it’s vital to take your time to understand the current market as well as the specifics of your caravan to help you decide how much it could be worth.