How to Sell a Camper with a Lien? Explained

Selling any type of RV vehicle may appear like a challenging task, especially if you own a camper. This is because the market for them is much smaller than for cars. In addition, selling a camper with a lien complicates things even further. But that’s why you are here, right? With our step-by-step process, you will sell your camper without a problem. In this article, we’ll talk about this and much more. So, let’s start!

How to Sell a Camper with a Lien?

So How to Sell a Camper with a Lien? To sell a camper that comes with a lien you first must determine the camper’s true value, and calculate the difference in financials. The next step is to decide whether you want to sell your camper privately or through the dealership. When you go through a dealership you will make less profit.

Now that we have briefly explained all the things that are important in order to sell your camper that comes with a lien, it is also necessary to know how to do it. Therefore, we will go through all this in a little more detail below. Keep reading.

For those who want to learn more, be sure to read How To Sell A Camper Fast (Step-By-Step).

How To Find Your Camper True Value?

If you’re looking to sell your camper, determining its true value is the first and most important step that you need to do. Both the seller and the buyer must meet on a fair end in order for both parties to be satisfied and finally agree. This ideal situation isn’t always the case because many people aren’t aware of the fair price or the fair real value of the item they are trying to sell. So, how should you find a proper estimation of your campers’ value? Keep on reading to find out!

Note! The Fair Market Value (FMV) is determined when both sides are unrelated, both of them know all details, no one is obligated to buy or sell. If you sell your item below the market value, you will lose money, however, the sale will be quicker.

On the other hand, you could make more money by pricing your camper over the market value, but it may take you longer to sell it. Also, you must include any fees associated with maintaining your camper while you wait for it to be sold. That being said, it’s fully your decision on the way how you want to sell your camper. However, determining its true value and finding that balance can let you sell your camper for both the highest price and in a very fast period of time.

How to Determine the Camper’s Value?

Many believe that the worth of their camper is equal to the price they initially paid for it. Registration, insurance, and taxes are all included in the price. They also tend to include any upgrades, normal maintenance, or repairs they’ve made on it throughout the years. It would be much easier if this process was as straightforward as that. Unfortunately, this is not how it goes, because the value is determined by a variety of other factors as well.

Using a pricing guide, such as NADA, is the easiest method to find out and estimate your camper’s value. To do this, you must compare it to a similar camper, considering the brand, model, and year of manufacture. Keep in mind that this will give you only a slight estimation. A number of other factors also influence the price of RV vehicles, such as mileage, condition, and location.

You’d sometimes look for a camper that is in poor condition and the other that is in excellent condition. They both, however, want the same price for their RV. This is why it’s critical to estimate your camper’s value according to its worth rather than its overall price. You may get a better idea of your campers’ value by examining more campers that are in your area in terms of conditions. Never depend on other campers, friends, or a car dealer’s guess.

Calculate Your Financials

Now that you’ve determined your camper’s true market value, you can figure out and set a price for your camper.

First, you must compare your camper with the money that you owe.

In contrast to the above, where you did a rough estimation, this is a serious problem that you should never take lightly. You can make a guess between the money that you owe and the estimated worth of your camper.

When you calculate how much money you own and how much you are going to get for your camper, you should get an idea of how much money you’ll actually make (or lose). In the case where the amount of money you owe is more than the campers’ worth, you’ll almost certainly lose money, which might make this process more difficult.

Sell Your RV Privately

You have two options when it comes to selling a camper that has a lien. The first choice is to sell it privately, and the second is to sell it through a dealership. Each of these methods has its set of pros and cons.

A private sale is an option when you’re not looking for a fast sale and when you don’t mind going through a more involved procedure. It’s more likely you’ll make a bigger profit when you sell your RV camper privately than via a dealership. It’s a good idea to mention that your camper is subject to a lien when offering it for sale. In order to attract more customers, you’ll also need to make an engaging advertisement. 

You should obtain an estimate from a dealership even if you choose to go with a private sale. When an owner wants to go through a dealership, you will get an estimate of a fair price, and make sure that you don’t sell your camper by yourself for less than a dealership would offer. Believe me, no one wants to choose the more difficult road only to make less profit.

1. Be Ahead Of Your Competitors

More than 355,000 campers of various types are sold each year. If you want to sell your camper for the best price possible, you need to make it stand out among others in this crowded market. You’ll also ensure that you obtain a fair price with a camper that is in excellent condition, which will cover the majority of the possible losses. Sometimes you may even walk away with some extra money.

You’ll attract more private buyers and receive better offers from dealerships if you own a new camper that is clean and well-maintained. On the other hand, unless you offer a really cheap price, you’ll have a hard time selling the camper. Especially if it’s damaged or excessively oxidized and filthy.

2. Use an Escrow Account

You may use an escrow service when the seller wants to add extra security when you are selling your camper. How does the escrow method work? So, the buyer places the selling money in an escrow account and that money is only given to the future owner when the title transfer and lien have been completed. However, this service comes with additional fees, which are typically divided between the two parties because it protects both the buyer’s and the sellers’ interests.

3. Closing a Sale Process

Completing the transaction process goes by setting up a meeting to transfer the title to the future owner and pay off the lienholder’s debt. The debt is settled either by the buyer taking it over or the seller paying it off. Some banks will give you a bridge loan when the owner doesn’t have the money to pay off the loan (even when the vehicle is already sold). This loan is simply a fresh loan that covers the difference between the price you want to sell the RV for and the amount you’re still owing.

Expect a transfer charge (depending on the bank or lending institution) in the case when the debt is transferred to the buyer. However, buyers and sellers often welcome it since it provides a safe transaction for both parties. Going via a dealership will save you the worry that scheduling the meeting with all parties involved gets you. The dealership will contact the seller, who then sends it to the lienholder, and in this way, easily handles the lien debt.

Also, be sure to read How Much Does It Cost to Store an RV? (Cost Near You).

Sell Your RV Through a Dealership

If you don’t like the option of selling your RV privately, then you can use a dealership method. Selling a camper with a lien to a dealership is a better move since it saves you a lot of time and effort that you would normally put into selling it privately. You typically make less profit when you go through the dealership method.

Dealership professionals are well-trained in selling an RV vehicle with a lien. Dealership professionals know how to manage all of the legal and regulatory difficulties and the paperwork included in selling a vehicle because they have a lot of experience in doing so.

They also have direct communication with the lending body, whether it’s a person, a business, or a bank. If necessary, they also provide additional details, such as towing firms and mechanics. The procedure typically begins with the dealer doing a detailed examination of your RV’s condition and determining a reasonable trade-in value.

The most important thing when it comes to actually selling your camper is never to accept an offer that’s less than your camper’s stated trade-in value. When the dealer gives you a reasonable price and you accept it, the process will begin immediately, with the lien holder being paid off first.

The lien holder will return the title after paying off the debt. Keeping in touch with the lien holder during the title transfer procedure is a smart idea. The dealer will provide you the leftover money from the loan balance. Furthermore, before completing the sale and settling for the deal, request a written certification from the dealer indicating the loan sum has been paid off.

Additional Options For Selling an RV With A Lien

When selling RV (whether it’s a camper, or another vehicle) isn’t a possibility right now, there are a few options that you can consider also such as:

Trade Down

If you want to sell your current camper and at the same time you don’t want to give up camping or the camper lifestyle, you can go with trading a camper for a lower-priced model, which is a more affordable alternative. After the trade, they would add the remaining balance to your new loan and then arrange the money over a longer period of time to keep the monthly payment low.

However, this option isn’t always possible because banks rarely lend more money than the camper is worth. Furthermore, you may find yourself in a bad financial situation in the future.

Rent Your Camper Out

One more intriguing possibility is to rent out your RV while you aren’t using it to help you with paying it off before selling it. This also presents a once-in-a-lifetime chance to turn a bad financial situation around. Nowadays, renting RVs has grown in popularity. It’s up to you how you rent it out, but services like RVShare.com make it simple to post your RV on the internet and reach a great number of potential renters. They take care of all payments and deposits, provide roadside assistance, and provide rental coaching to help you make the most of your rental listing.

Final Thoughts

If you have decided to sell your RV, I hope you have understood by now what are the important factors that you need to consider. When selling, you want to get as much money as possible, so it is necessary to pay attention to the steps that we have described in this article. I hope you have learned something new about selling your RV with a lien by reading this article, and if you have any questions, feel free to contact us.