Camping World Stays Off The Brakes
Camping World Holdings saw its growth accelerate during the second quarter. Sales jumped more than 20%, to $1.28 billion, which was more than $100 million higher than most investors had expected to see from the company. Adjusted pro forma net income was up more than 40%, to $77.7 million, and that resulted in adjusted earnings of $0.91 per share, easily topping the consensus forecast for $0.68 per share.
Taking a closer look at Camping World’s numbers, the RV retailer sustained its good fundamental performance. Same-store sales growth accelerated to 10.6%, with the company pointing especially to sales of new towable RV units in supporting the gains. A rise in finance and insurance revenue also contributed to performance, although used vehicle unit sales held back comps growth.
New vehicle-units sold soared by nearly two-fifths, to 21,900, helping to offset a 4.5% decline in the average selling price of new RVs, to just under $34,800. A higher sales mix of lower-priced towable RV units was responsible for the drop in average sale price, but strong demand for new RVs came, in part, from shortages of high-quality used vehicles.
That shortage showed up in Camping World’s used-vehicle results. Units sold fell 8%, to just under 9,100, and average sale prices fell 1%, to $21,660. The reduced inventory was primarily responsible for the poor performance, with Camping World explaining that fewer trade-ins were accepted from those buying new RVs.
How Do I Find Out How Much My Motorhome Is Worth
Its called NADA, or the National Automobile Dealers Association, and they list prices and values for motorhomes, travel trailers, and even truck campers and park models. Platforms like RV Trader, which help people buy and sell RVs, are also a great resource for getting an approximate value of your rig.
Do The Electric Jacks Automatically Stabilize The Trailer
Setting up at your campsite is quick and easy using our electric three-point stabilization jack system. Our jack system is manually controlled by switches located on the trailer. All controls and the sight gauge are located between the propane tank housing and front tongue jack. In order to level your trailer we recommend accessory RV leveling blocks.
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Rv Trading Tips Thinking Of Trading In Or Selling Your Rv
In addition to being a full time traveler , I spend my summers consulting and selling RVs. I often approach folks with the following How can I help you lighten your wallet, put you in debt for years to come, and sell you something that will do nothing but depreciate from the moment it leaves the lot?
Truth? You bet! RVs virtually ALL of em are NOT a financial investment instead they are an investment in lifestyle, quality time with the family, quality experiences, etc. Agreed? Oh, and most folks laugh, but then contemplate it and say youre right!
So, knowing youre buying something that IS going to depreciate , is there a better time to trade it in?
Fact: The average rver keeps their rig for 3-5 years. Does it matter whether you trade closer to 3 or 5 years? TIMING is everything. Consider my thoughts in the following brief video
Is Camping World Still In Business
The company has its headquarters in Lincolnshire, Illinois. In October 2016 it became a publicly traded company when it raised $251 million in an IPO. Camping World operates over 180 retail/service locations in 46 states, and also sells goods through mail order and online.Camping World. Type Public Website www.campingworld.com.
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How Do I Get Out Of An Upside Down Rv Loan
If you find that you want or need to sell your recreational vehicle but your loan on it is upside down the only realistic way youll be able to get rid of it is to either pay off the loan for cash you already have or take a new loan that will cover the difference between what you owe and the amount of money youll get Feb 12, 2020.
Tips To Negotiate While Buying A Rv
So, ready to negotiate with the dealer? Even though a lot of people know that dealers will sell them that class C RV or class A RV at high prices, they simply cannot negotiate properly.
This happens because lot of us are hesitant and do not know how exactly to negotiate.
One can also use these tips to negotiate used RV purchase. In-fact you need to be more clever in negotiation skills when buying a used RV or travel trailer.
For used RVs one is always in doubt as to how much is a good price. Let me put out some tips that will help you negotiate the RV at dealer in better way.
In general, when buying anything costly be sure to follow below tips to negotiate and save.
Now, lets see RV buying tips and how to negotiate.
1. Visit multiple dealers
Checking deals at multiple dealers is the best thing you can do, to compare the prices.
Shopping around multiple dealers across cities or even states can help you understand the reasonable pricing. Check which state near you have cheapest rates.
You can also land up at a dealer that will give you better deals like we discussed above. Buying in particular month can also help you get lower prices, buying just before summer can be costly as everyone is trying to get their first RV. Check when its not the season and dealers want to make sales at any cost, winter months can be great for this.
Dont stick to one brand
2. Check for hidden fees
Negotiate to see if any such extra fees can be slashed or avoided.
3. Take time to decide
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Patagonia Offers Extra Credit For Worn Wear Trade
October 14, 2021 | By Jilli Cluff
Through the end of October, Patagonia looks to foster better stewardship and relieve holiday budgets by placing a higher value on customer trade-ins.
Ah, the joys of dressing oneself for shoulder season. It means exploring your closets outer limits for warmer layers. Wobbling up on your tiptoes to paw at an oversized box of winter wear. And this year, also taking extra store credit from Patagonia on Worn Wear trade-ins.
Now through the end of October, you can trade your lightly used Patagonia gear in to the companys Worn Wear program for 50% extra credit and free shipping!
Ready to pad your holiday budget, curate your gift list, or recycle used-up threads? Youre in luck.
How To Use Amazon Trade
How to Use Amazon Trade-In to Upgrade…
is a great way to make money on old tech collecting dust. Or if youre looking to upgrade to a newer device and youre a fan of discounts.
In addition to Amazon devices, you can also use Amazon Trade-In for items made by other brands like Apple, Google, Samsung and more. Heres everything you need to know to get an upgrade or a gift card.
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The Handshake With The Rv Sales Person
Lets assume youve walked into a dealers door and this sharp dressed guy walks up with their fake smile on their face and firmly grasps and shakes your hand.
Well, this is where the trading game starts, so grab their hand back and shake it vigorously, with the same fake smile on your face, because you are preparing to go into battle: a battle for a good deal.
After the initial chit-chat, the sales person will spend as much time as you want, showing you every RV they have that they think they might be able to talk you into purchasing. Avoid answering certain questions, especially: How much do you want to spend? If you answer this, then they now know which units to show you, instead of the ones that you might really want to purchase.
My answer to this question is usually something like: “I have a 20xx, xx-foot-long motorhome, and I want to look at whatever you have that is at least 5 years newer, and I can get for as little difference as possible. I do not want to spend the money that a brand new unit costs, so let’s start with what you have that fits these criteria. Oh, and my credit rating is over 700 , I have been camping in RVs for x-years, I know the NADA on my rig, and I want a great deal.” This is enough information for any salesperson to start out showing you what they have in inventory, without their steering you to certain rigs they want to sell at the moment.
Tips To Negotiate When Buying A New Rv
RVs or travel trailers are hot favorite way of camping in summer. A lot of people buy RVs when the summer is about to come. When it comes to buying a thousands of dollar priced RV, one has to be careful as its a big investment.
Its not only used RVs that can turn out to be lemon but a branded new RV can also be a disappointment. Thus, you need to be very careful in choosing the dealer and type of RV.
So, can you really haggle with a RV dealer? Well, yes you can and in-fact you can end up getting good deal with discounts in multiple ways.
Getting a branded new RV like Class C motorhome or fifth wheel or any other type can cost you anything between $20,000 to $500,000. Class A RVs , fifth wheels cost much more than smaller RVs like travel trailer, Class B RV or pop up tent trailers.
So, how do you negotiate buying a new RV or motorhome? What things can you actually negotiate with the dealer?
Here are tips based on our experience that can help you get branded new RV at discounted rates.
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Which Is Better: Small Dealers Or Big Dealers
Small used RV dealers are those dealers who have maybe five to ten acres of land with anywhere from a dozen to several dozen used RVs that they are trying to sell. These dealers will usually have a small sales office building with only one or two desks in it, and a two- or three-bay service section in the rear.
The average sized RV dealers, those with a hundred or so new and used RVs for sale, will often sell new products for maybe one or two of the RV manufacturers. These dealers will usually have a nice office building with several desks for sales people and somewhere on their property they will have a service building with maybe a half-dozen or more sales offices. And, the sales people will usually be wearing uniform clothes.
The larger RV super-sellers will often have over a thousand RVs on their lots ready for you to check out and purchase, and they will often have new units from a half dozen of more of the popular RV manufacturers.
These guys turn over a lot of RVs, and they will have large luxurious office areas with dozens of sales people, plus sitting and waiting areas in their different sections for your comfort. Many will even have a cafeteria, a good-sized parts sales area or building, and separate service buildings with dozens of service and repair bays, ready to take care of your RV when a problem occurs.
Can I Take A Plant Tour
Yes! We encourage you to visit our facility to get an up close and personal tour of our manufacturing process. We are confident that after you see how well we build travel trailers you will have your mind made up about what you want. So please, come see us, take pictures and ask as many questions as you have? Tours are scheduled Monday through Friday 9 AM or 1 PM CST. They are available by appointment only. Please give a 24-hour notice. You can call us at 1-888-526-3978 or visit us online at Oliver Plant Tour webpage.
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Does Oliver Accept Trade
We are not an RV Dealer in the typical sense. We represent our factory as the sales agency in a unique factory outlet program. Since we only sell Ollies, we are not able to take trade ins. In general RV dealers will make money on your trade in. Why not consider selling it yourself in one of the many online RV marketplaces and keep that money in your pocket? Ask to speak with our sales manager and he may even be able to help you properly price your current unit for the best sales price.
Rising Rv Trends Continue Guidance Improves
The market continues to be very favorable for Camping World and the RV sector in general. Outdoor lifestyle stocks are thriving as people seek the wide open spaces of the North American continent. With many countries continuing air travel restrictions, and the previously highly popular cruise ship vacations still largely off-limits, vacationing almost appears to be returning to pre-jetliner patterns, with people mostly getting their relaxation at regional camping areas or national parks.
Even beyond the pandemic, however, the RV trend may have gained momentum of its own as more people, and many from younger generations, become invested in the lifestyle. Data from the RV Industry Association shows all-time highs for June RV shipments . Shipments topped the previous record June high in 2017 by 7% and last June by 23.5%, with 50,706 units shipped. The second quarter as a whole has the most shipments for any quarter since records started being kept decades ago.
Camping World raised its guidance against this backdrop of record sales. It now predicts $810 million adjusted EBITDA for the full fiscal year 2021, up 5.2% from its May forecast. Lemonis declined to guide for 2022 results during the earnings conference call, but said Camping World’s executives are “excited” about the future.
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How Do I Sign Up For A Field Visit
Since we only sell Oliver Travel Trailers through our sales office in Hohenwald, TN, we know it can be difficult for many interested in purchasing a trailer to come to our showroom to see one in person. We have a unique program setup for those interested in viewing an Oliver Travel Trailer near you.Our Field Visit Program allows you to see another owner’s travel trailer near you. Simply visit our See An Ollie webpage and request to view an owner’s travel trailer. Our representatives will reach out to owners to help coordinate a visit.
How Do You Trade In A Trailer
The Trade-In Process Step 1 Get an Appraisal. We accept all years, makes, and models. Trade appraisals are free! Start the process by filling out the form below. Step 2 Review Our Offer. Well make you an offer you cant refuse! Step 3 Trade It In. Browse our showroom and find the perfect trailer for you.
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So Selling Rvs Can Be Complex
Short Answer: Yes, when you are building a 360 degree ecosystem that serves all the needs of RV owners.
Long Answer below
Well, the biggest misconception about Camping World is that it is just another RV dealer. On the contrary, Marcus Lemonis, CEO of Camping World, is building an ecosystem that touches upon all the necessary products and services throughout the RV lifecycle. This includes, but is not limited to financing of RVs, purchasing of outdoor gears, maintenance & repairs, installation of new equipment, renting out RVs, and selling used RVs.
If you dont believe me, take a look at some of the numbers below!
More than just a RV Dealer!
While top line numbers seem to suggest that Camping World is generating most of its business from the sales of new and used RV, their gross margin tells a different story. You quickly realize that Camping World derives a significant portion of business from channels such and Financing & Insurance , and Products & Services. Consider the following diagram.
Ultimately, sales of new and used RVs accounted for 67% of total revenue but only translated to 39% of gross profit. On the other hand, businesses other than the sale of RVs, took up ~60% of gross profit. This can be attributed to the higher margin nature of F& I, and Good Sam service plans. F& I in particular, boasts a 100% gross margin. It captures 31% of total gross margin, 6% more than what RV sales account for.
Upgrading Or Downsizing For Less
Trading in your RV is a great option for a growing family who needs a little more space. Some modern floorplans feature second bedrooms. Toy haulers often have a for storing outdoor gear for you and your teens to enjoy mountain biking or more. Even empty-nesters can benefit from trading in an old RV by downsizing to a couples coach with high-end amenities for less!
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What Is A Good Tow Vehicle For Either Model
Every manufacturer sets their vehicles towing capacity which can have several different ratings with a single model depending on engine size, transmission, spring capacity to mention some of the components that can change its tow capacity. Example: A 2013 Ford F150 can have between 5,500 Lbs to 11,000 Lbs tow capacity depending on its configuration. While there are many moving parts to the towing equation, most modern ½ ton pick-ups will tow the heavier Oliver Elite II. The GVWR is 7,000 lbs. The GVWR on the lighter Elite I model is 5,000 lbs. As long as your tow limit is equal to or higher than the GVWR on either model you are safe. One of the best ways to see if your tow vehicle is capable of pulling our trailers, is to check out Trailer Life Magazines Annual Tow Guide. This is an alphabetical list organized by model type and configuration that Trailer Life puts out every year. It can be found at Trailer Life Tow Guide.