Embarking on a van life adventure is an exhilarating experience that opens doors to endless possibilities. Whether you’re a seasoned traveler or a newcomer to van life, one crucial step in your journey is getting a campervan appraisal.
If you’ve been confused about how to get started with your own camper van appraisal, you’re in luck! Explore VanX has a great resource for you! We partnered with a certified camper van appraiser to help get you started on your journey.
Start your camper van appraisal process here, or read on to learn more about why RV appraisals are so critical.
Why Should You Get a Camper Van Appraisal?
You should acquire a camper van appraisal for two primary reasons; financing and insurance.
A camper van appraisal will help you qualify for financing.
If you plan to finance your campervan, getting it appraised is almost imperative. Lenders require an accurate vehicle valuation to assess its worth and determine the loan amount.
You enhance your chances of securing favorable loan terms and interest rates by obtaining an appraisal. Without an appraisal, you might have difficulty obtaining the necessary funds to purchase your campervan, and it will be harder to sell it.
It's easier to insure your camper van when you have an appraisal.
Appraising your campervan is crucial when seeking insurance coverage. Your insurance company must assess the vehicle’s value to determine appropriate coverage and premiums.
As we know, your vehicle’s Kelly Blue Book value is NOT the actual cash value of your camper van after it’s been built out. The actual cash value is much higher when considering all the materials used for your recreational vehicle.
An accurate appraisal ensures you’re adequately protected in case of theft, accidents, or other unforeseen events. Without a proper camper van appraisal, you risk being underinsured.
3 Benefits of Campervan Appraisals Beyond Insurance
In addition to increasing financing opportunities and having proper insurance coverage, there are even more benefits to having an appraisal for your camper van.
1. Establishing fair market value
A professional campervan appraisal provides an unbiased assessment of its fair market value. This evaluation considers factors such as the make, model, age, condition, modifications, and any additional features of your campervan.
The appraiser’s expertise and market knowledge enable them to provide accurate and objective RV appraisals.
2. Documenting modifications and upgrades
If you’ve invested time, effort, and money into customizing your campervan, an appraisal helps document these modifications.
Upgrades like solar panels, interior renovations, or added amenities enhance the value of your vehicle. A comprehensive RV appraisal report lists these enhancements in one complete document, allowing you to showcase the true worth of your campervan to potential buyers, lenders, or insurers.
3. Facilitating resale or trade-in value
Eventually, you may sell, trade in, or upgrade your campervan. A professional RV appraisal report gives you a competitive edge when negotiating with potential buyers or dealerships.
The documented value serves as evidence to support your asking price and allows for a smoother transaction process.
What Information Do Appraisers Require?
To complete accurate RV appraisals for new and used RVs and camper vans, appraisers may request the following information:
Vehicle details
Provide the make, model, year, and mileage of your campervan. Include any factory-installed options or features it came with.
Maintenance and service history
Documenting regular maintenance and service records helps appraisers understand how well the campervan has been cared for and its overall condition.
Keeping comprehensive service and maintenance records for your campervan is crucial for maintaining its resale value. It shows potential buyers that the camper van has been adequately cared for. Always include the details of the work done, dates, mileage, and service provider information.
Here is a list of important records to ensure you keep well-documented:
- Regular Maintenance: routine maintenance tasks such as oil changes, filter replacements, tire rotations, and brake inspections.
- Engine Servicing: any major engine servicing, including timing belt replacements, engine tune-ups, or any repairs conducted.
- Transmission and Drive Train: transmission fluid changes, clutch replacements, or other drive train repairs.
- Suspension and Steering: any suspension repairs or replacements, including shocks, struts, springs, or steering components.
- Electrical System: any electrical repairs or upgrades conducted, including details of added electrical components, wiring changes, or battery replacements.
- HVAC System: if your campervan has a heating, ventilation, and air conditioning (HVAC) system, document details such as refrigerant recharges, compressor replacements, or any other HVAC-related work performed.
- Plumbing and Water Systems: any repairs, maintenance, or upgrades.
- Appliance Maintenance: any servicing or repairs on your campervan appliances, such as refrigerators, stoves, or any other built-in appliances.
- Exterior Maintenance: all exterior maintenance performed, such as repairs to the body, paintwork, or any modifications made to the exterior.
- Documentation of Other Repairs: the specific issues encountered, parts replaced, and the dates and details of the repairs. This demonstrates transparency and provides potential buyers a clear understanding of the vehicle’s repair history.
Systematically organizing and storing these records is essential, preferably in a dedicated folder or digital format. This allows for easy access and presents prospective buyers with a well-documented history of maintenance and repairs, instilling confidence in the vehicle’s condition and upkeep.
Modifications and upgrades
Make a list of all modifications and upgrades made to the campervan, including details of any added equipment, appliances, or structural changes. Always document the manufacturer, model number, and specs.
Here are some of the most common additions to campervans that will add significant value to the actual cash value of your campervan.
- Solar Power System: Installing a robust solar power system provides off-grid capabilities and enhances the campervan’s value. A well-designed system with sufficient solar panels, batteries, and a high-quality inverter can be a valuable investment, allowing for extended periods of self-sufficiency while adding value to your RV.
- Kitchen Appliances: Adding high-quality kitchen appliances, such as an Isotherm refrigerator/freezer, stove, oven, and sink, can significantly enhance functionality and value. Remember your water storage, plumbing, water pump, and even an on-demand hot water heater.
- Bathroom Facilities: Campervans equipped with well-designed bathrooms have a competitive edge in the market. Incorporating a shower and toilet can add considerable value to your vehicle.
- Customized Interior Layout and Design: A thoughtfully designed interior layout that maximizes space and incorporates high-quality materials and finishes can substantially increase the value of your campervan. Custom cabinetry, comfortable seating, and smart storage solutions can create a premium living environment that potential buyers or appraisers will appreciate.
- Advanced Technology: Integrating cutting-edge technology into your campervan can be a significant selling point. Consider adding features like a touchscreen infotainment system, integrated navigation, rearview cameras, premium audio systems, and a security system.
- Exterior Upfitting: If you’re into overlanding, adding rugged components like lift kits, shocks for off-road travel, all-terrain tires, additional exterior lights, tow packages, and even winches and air compressors will add up quickly.
- Outdoor Living Enhancements: These can include features like awnings, outdoor cooking options, an outdoor shower, bike racks, roof racks, or even rooftop tents. These additions expand the livable space of the campervan, potentially adding value to your vehicle.
Remember, the value added by these expensive additions may vary based on the market demand, target audience, and the overall quality of the implementation. It’s essential to carefully consider your specific needs, budget, and the preferences of potential buyers when deciding which additions to invest in.
Visual Documentation
Provide photographs and videos of the campervan’s exterior and interior from multiple angles. This visual evidence assists appraisers in assessing the vehicle’s condition accurately.
If you are doing a DIY build, ensure you capture before, during, and after photos of every single angle, crevasse, and nook of your camper van, inside and out.
How Long is my Camper Van Appraisal Valid For?
One thing to keep in mind is that campervan and RV appraisals aren’t good forever.
Typically, your insurance company will honor the appraisal for the duration of your policy. However, if you decide to change your policy or switch insurance providers, most insurance companies require an appraisal completed within the past year.
If you have your campervan re-appraised, RV values may have shifted significantly since your last appraisal. This could mean that the fair market value increased or decreased, changing the overall value of your campervan and thus changing your insurance rates.
If you are considering changing your insurance plan and need your RV re-appraised, consider checking the NADA (National Automobile Dealers Association) website as a first step to see if it’s worth it.
Have You Scheduled Your Camper Van Appraisal Consultation Yet?
Campervan appraisals are a vital step in your journey as a campervan enthusiast. They accurately assess your vehicle’s value and unlock financing and insurance opportunities crucial for your peace of mind on the road.
A professional campervan appraisal ensures fair treatment from lenders, secures adequate insurance coverage, and establishes a strong foundation for future selling prices. So, before you set out on your next adventure, take the time to appraise your campervan and unlock the full potential of your van life experience.
Appraisals aren’t just for campervans; you can appraise a travel trailer, class A motorhome, class C RV, and even fifth wheels and truck campers!
