The Art of Negotiation: Getting the Best Deal on Your RV Purchase
Buying a Recreational Vehicle is like buying a new home or a car. However, buying an RV is a bit complex for beginners, as little details matter. You can’t close the deal just by looking at the exteriors of the vehicle and its aesthetics. Before you visit the private seller or the showroom, it’s important to understand the RV and its latest pricing trends to get the best deal. Once you have inspected the vehicle, the next step is negotiating the deal. In this post, we are going to share a few negotiation tips that can make RV shopping budget-friendly for you. Let’s take a look.
- Preparation for Negotiation
Start with research. You can’t negotiate the deal until you know the details of the model, its average market price, and how sellers offer competitive prices for your desired model. The dealer won’t hesitate to claim that they offer the best price and that you can’t find an RV at their quoted rate elsewhere. You can also use a similar tactic. Research the RV you are interested in and compare different price points. Note the add-ons that other sellers offer and the price point. Bring it up during the negotiation to convince the seller to lower their prices.
Setting a Realistic Budget
Before you research an RV, list the extras that you are willing to pay for. For instance, are you okay with the taxes, registration fee, insurance, and repair costs? It’s best to study different RV models with their prices and choose one that fits your budget. RVs come in different price ranges. An entry-level RV is available at just $20,000 while the best-in-class (Class A Motorhomes) can cost up to $1 million. There’s no point in negotiating for an RV that’s priced at $60,000 when your budget is $30,000 or less.
Exploring Financing Options
Getting pre-approved for financing will put you in a better negotiation position. It helps you in two ways—the seller takes your negotiation offer seriously as they know you have already thought about funding an RV and are interested in the offer. Two, you can have a better understanding of your budget.
Besides, getting pre-approved will help you avoid last-minute surprises, whether you are buying a new model or one from used RVs for sale. You don’t want to finalize the deal only to discover that banks and credit unions have rejected your loan application. Research the interest rates and choose a bank that can quickly complete your financing application.
Building a Relationship with the Seller
Buying an RV is a big investment. You need to bring up the inspection report, your pre-approval documents, and more to offer a negotiation. It’s important to be realistic. Understand the seller’s perspective and try to maintain transparency in communication. Sellers are prompted to accept your offer if you make evidence-based negotiations. For instance, showing your clients the repair estimates and the issues in the inspection report can work wonders.
Inspection Findings and Negotiation
Before you come to the negotiation phase, you must hire a team of inspectors to study each component of the RV, its function, and the condition of the model. They will create a comprehensive inspection report that lists all the potential issues with the RV and the future repairs that can cost you extra.
Inspection reports can be as long as 200 pages. A detailed report might take a lot of time to study, but that’s your best bet at closing the deal at your desired offer. Mark the repair clauses and prioritize them based on their importance. Once you know how much you will pay for repair and maintenance, you can use it as a base to proceed with negotiation.
Comparing Multiple Offers
As mentioned above, your best tool is your research. Knowing what the competitors are offering will help you compare the prices with the dealer and get them to accept your negotiation offer. Start with collecting quotes from different sellers and highlight the competitive prices. When negotiating, do not jump straight to the price you can afford. Instead, offer a price a bit lower than your budget, but still within a realistic price range.
Remember, quoting a price too low will not lead you anywhere. You need to use your research to come up with an offer that sounds satisfying and mutually beneficial.
Negotiating Additional Perks
Negotiation isn’t just about the price point. You can also negotiate other offers, such as getting additional accessories for the offered price or an extended warranty. Negotiating the add-ons, especially ones that offer long-term value can help you save substantially on your RV deal.
An extended warranty, for instance, ensures that you don’t end up paying for heavy repairs in the future. Likewise, you can ask the seller to add extras, like kitchen appliances, slide-outs, heating and cooling systems, and entertainment units in the vehicle.
Close the Deal
See what the seller is willing to negotiate. Some are willing to negotiate all or parts of your offerings, while others might be reluctant to fulfill any of your negotiations. If the latter happens, your best choice might be to walk away from the deal. That works if you can’t accept their terms. Once you have come to an agreement, get everything in writing for clarity.
This is especially important for any warranties and guarantees, as that will help you get the seller’s help in the future. When negotiating, you must negotiate the final price of the RV and not just the monthly payments or the price of an add-on.
Bottom Line
The negotiation phase is the most challenging. Once the inspection is over and you get a detailed report of the ins and outs of the vehicle, you need to research and compare the price range of similar models to arrive at your budget. Knowing the budget isn’t enough, though. How well you present the inspection report will determine whether the seller accepts your deal. Check out the latest RVs for sale, compare their prices, and use the above tips for negotiation.
