Thinking About Trading In Your Trailer?
- What's My Trailer Worth
There is no solid guide for trailer
trading out in the market.It is all about the trailers
condition and features. The industry has come up with
a formula of deducting 20% off the retail price paid
for the trailer the first year, and then deducting
10% of the value each subsequent year. This formula
gives you a general idea of the value of your trailer,
but its just a guide, and does not account for condition
of your particular trailer. My advice is to be upfront
with the dealer about what you feel your trailer is
worth. At LanChester we do our best to come to an
agreement with our customers on the value of their
trailer. There are times when trailers being traded
are not in demand, and unfortunately this causes dealers
to decrease the amount they are willing to pay for
the unit because they know it will not be a fast mover,
and it will need to be priced very competitively to
sell. Please keep in mind these major issues that
will affect the value of your trade:
- Aluminum vs. steel-
Currently aluminum used trailers are hot on the
used trailer market. An aluminum trailer will
bring more value than a steel trailer even if
they are exactly the same everywhere else. We
are able to sell aluminum and steel units, but
most customers like aluminum trailers because
aluminum does not rust, and is usually lighter
and easier to maintain.
- Condition- Values
rely heavily on the condition of the trailer. When
we look over a potential trade in, we must check
the brakes, lights, axles, tires, batteries, floor,
and overall body to ensure the trailer will pass
PA Inspection. If in the process of reviewing you
trailer we notice the trailer needs 2 new tires
and a breakaway battery to pass inspection, the
cost of these items are deducted from the value
of your trailer. Ask for a detailed list of the
work that your trailer would require to be resold,
if your value has been reduced due to condition.
We at LanChester try to tell our customers of the
potential work we see when looking at each unit,
this helps our customer understand the value when
it is given to them.
- Warranty- Make
sure you let the dealer know when they are evaluating
your used trailer if the trailer has a transferable
warranty, and what amount of time is left on the
warranty. At LanChester we resell many Sundowner
Trailers with several years left on the original
manufacturers warranty, and the next owner will
often be willing to pay a few dollars more for a
unit with a portion of the manufacturers warranty
Again, there is no absolute answer
to the value of your trade. Be wise, and remember
to speakup if you feel your trailer is worth more.
Make sure you ask if the value has been reduced for
work that need completed in order for the unit to
sell. We strive to provide the customer with an accurate
value based on the current market condition, the demand
for that type of unit, and the condition of the trailer.
- Can you really get more for your
is true. Our customers can possibly get $500-$1,000
dollars more if they choose to sell their trailer
privately verses trading in. The downside to selling
it privately is that the customer has to do the work.
Depending on the value of the unit, it may require
you to work with financing companies for your potential
buyer, if it is financed you will have to pay the
trailer off before the sale can take place, and you
will not get a reduction in the taxes you pay on your
new trailer. In Pennsylvania if you buy a $15,000
trailer and trade in your trailer that was valued
at $5,000, you only pay sales tax on the $10,000 difference.
This already saves you $300 just by trading in. You
also have to add in the cost of advertising the trailer,
unless you are able to get a buyer by word of mouth,
or placing the trailer in your front yard. Usually
the higher the value of the trade, the harder the
trailer will be to sell privately. We encourage our
customers to place a downpayment on the trailer they
want, and see if they can sell their trailer privately
in a few weeks if they choose too. If they are able
to its great for them, if they cannot we are still
able to give them the value of their trade after our
shop has evaluated its condition, demand, and state
of the industry.
Thinking About Buying a Used Trailer?
- Is the trailer priced right?
Look around and compare prices of units
similar to the trailer you are looking to purchase
before you make an offer, Most times you can find
atleast 3 comparable units online, maybe not in your
geographic area, but compable on year, make, model,
and condition. We suggest to take the average price
of the units found, and this is the price range you
want your potential trailer to fall into.
- What should I make sure to look
at on the trailer?
We suggest if possible to bring the
trailer into a trailer service center, and pay the
small fee in order to ensure there aren't bigger issues
than you can see. Areas to pay special attention to
when you are evaluating the trailer for purchase are:
- Inspection -
Does it currently have a valid state inspection?
When does it need to be inspected again?
- Brakes - Does
it have them? In PA all trailers over 3,000 GVWR
must have brakes on all axles.Do they brakes appear
to be solid and in working order?
- Floor - Is
the floor solid without any rotton boards or rust
- Jack - Is the
jack solid? Does it work freely?
- Rust - Are
there any physical areas of rust on the potential
- Doors - Are
all the doors in working order?
- Do any latches need replace to safetly carry
- Windows - Are
any broken? Any excessive leaking?
- Frame - Is the
frame of the trailer solid with no rust through?
- Tires - Are
the tires dry rotted? Do they have good tread?
- Axle - Check
tire wear, any uneven wear could signal a bent
- Coupler - Is
the coupler broken? Does it work freely?
- Ramp Door -
Test the door up & down to ensure its working
properly, and has no broken springs or latches..
- Breakaway Battery
- Is it working? Test it.
- What wiring hook-up is used, is it in working
order when connected to a vehicle?
- Roof - Is it
free from leaks and holes?
- Ask about inspection
Does it come with a valid state inspection,
and if yes how long ago was the inspection preformed?
Would they be willing to get it re-inspected prior
to your purchase for your peace of mind? At LanChester
Trailer all of our used trailers come with a Pennsylvania
State inspection that is done when you purchase your
trailer, unless it is noted that the unit is being
sold as is with no inspection. This gives our customers
peace of mind that the trailer they are buying is
road worthy and saves them $36.04 plus the cost of
repairs on getting it inspected after the purchase.
- Make an offer
Found the trailer you want? Make an
offer, and let the dealer or individual counter offer
you. Without a standard for the value of used trailers,
don't be scared to make an offer based on your evaluation
and research of the unit. This is a big purchase for
you, and you want to make sure its done right. Make
the offer and wait for a counter offer. At LanChester
we allow our customers to make offers on all of our
used instock units, if there is any possible way for
us to come to agreement and make the deal happen we
will. It is our goal to get you the trailer you want
at a price you can afford.