Advice on selling, please

[tomsvegas]

Thanks, yes, I visited them the other week and was given a low ball consignment offer. I guess they just wern't interested, although I noticed very few, if any, nice Class A's, on consignment, on their lot. Lots of 5th wheels, and TTs. Camping word actually gave me a much better offer, but we decided we would wait until Fall to decide. I originally purchased the Vegas 24.1, 2015, at Seagrins.

[DogLovers]

I knew a guy who wanted a "Hamburger" today promising "I will pay you next Tuesday". He never paid EVER!!! If a guy cant get a bank loan to pay you and he obviously doesn't have the cash to pay you there is a reason. Move along and find another buyer. The road to hell is paved with good intentions. :-)

[Lt Keefer]

Originally Posted by Pete'sMH

Does anyone here have experience with PPL in Texas? Apparently consignment is all they do and they certainly have a well made website and a nice inventory. Just wondering.

I have been to their lot off IH 35 around New Braunfels in the past, just looking. The people were nice and seemed well informed about the coaches we looked at. Each coach we looked at was clean and all systems were demonstrated as operable by the salesman. I recall the salesman did not stumble over the demonstration like they do at Camping World. The location seemed small compared to other dealers in the area but the facility was clean and had a decent service area. We decided on buying new and scheduled an evaluation of our old coach with them to see if they were interested in selling it, but for convenience sake, we traded in our coach. The folks at PPL were understanding an even checked back with us a few weeks later. If I was buying used, I'd have no problem going back to them.

[Msdpok]

Technically you can’t sell what you don’t own, Tell your buyer to go get financing Or bring it to the RV dealer to sell! They are starving for used late model RV’s!!

[MLP]

Originally Posted by tomsvegas

We are considering selling our 2015 Vegas (in Bay Area, California) and I talked to several dealers about the consignment route. It is by far the safest. The downside is they really try hard to get you to agree on a low ball net on sale, so they can maximize their margin. I know, it is strictly business. Also, a downside is your rig is on their property and maybe mis-handled, poorly secured, etc, and you have no use for it while it is on consignment. I think we will go the "try to sell directly" and hopefully find a buyer with cash.

They will price it at what you want, hold it in the back letting cobwebs, dust, and dirt build up until you lower the price to what the market will bring. That is how we found our used THOR Palazzo 33.2 with less than 20K miles. I know they really made money, because I was able to contact the seller to purchase some items he was selling separately. He asked me what I paid. His expression said enough. I suspect he was well under water.

SeeGrins is where I purchased it at. Price it at market levels and it will sell fast. All inventory now all is flying off the lot. They have not been able to get new RVs fast enough to cover demand. They had six consignments on the lot and a week later only one. They have been honest with me, but they do operate more like a car dealer. Their service department has been first class with the work.

[CHRIS1u]

I see many dire warnings of the horrible risks involved in a sale by owner. Indeed, there are many things that can go wrong, but if the details are attended to, that need not be the case. A menu of those details:


1. If you still owe on your own financing, you have a show stopper. The re-sale is probably a violation of the existing financing agreement, and the fact that the title is held by the first lender makes it virtually impossible to protect yourself. But, if you have a clear title..


2. Make sure you reach agreement as to the terms of sale...is it as is, are there defects to be disclosed, what will be the payment obligation, interest, etc. It should be clear that the seller will be protected by a security agreement and title endorsement, with the usual protective language.


3. In order to create a valid lien on the vehicle, the buyer must sign a security agreement, which will state that the seller has a security interest, which will be perfected by endorsement on the title. There should be provisions relating to default, repossession in the event of default, etc. The buyer should be required to provide insurance, preserve and protect the vehicle, keep it maintained and repaired. The policy of insurance should include collision and comprehensive coverage, naming the seller as loss payee, with a provisions that the seller will be notified in the event the policy is expired or otherwise terminated. There are even some printed forms which address these issues.


4. There is no liability to third parties if there is an accident, if the vehicle has really been sold and registered in the buyer.


5. Typically, the title is sent to the lien holder (seller) and the registration is sent to the purchaser, as owner (subject of course to seller's lien).


6. There is always the risk, as with any kind of vehicle or personal property financing, that the buyer will take the vehicle off into the sunset, to parts unknown, contract be damned. For that reason vetting the buyer as a responsible and credit worthy person is as important as the documentation.


All this is a mouthful...but a lawyer can handle it all if the seller feels overwhelmed by the necessary details.

[ducksface]

We went to my bank, electronically transfered the money to the loan account he had on his rv, he gave me title, we drove away on his plates with a handwritten bill of sale in case of a random enforcement stop.
10 days later he got the lien release and overnighted it to me.
I attached the lien release to the title, went to dmv and transferred it from his Missouri title to my Arizona.
I mailed him his plates.

We were both good judges of character.

[DogLovers]

Originally Posted by CHRIS1u

I see many dire warnings of the horrible risks involved in a sale by owner. Indeed, there are many things that can go wrong, but if the details are attended to, that need not be the case. A menu of those details:


1. If you still owe on your own financing, you have a show stopper. The re-sale is probably a violation of the existing financing agreement, and the fact that the title is held by the first lender makes it virtually impossible to protect yourself. But, if you have a clear title..


2. Make sure you reach agreement as to the terms of sale...is it as is, are there defects to be disclosed, what will be the payment obligation, interest, etc. It should be clear that the seller will be protected by a security agreement and title endorsement, with the usual protective language.


3. In order to create a valid lien on the vehicle, the buyer must sign a security agreement, which will state that the seller has a security interest, which will be perfected by endorsement on the title. There should be provisions relating to default, repossession in the event of default, etc. The buyer should be required to provide insurance, preserve and protect the vehicle, keep it maintained and repaired. The policy of insurance should include collision and comprehensive coverage, naming the seller as loss payee, with a provisions that the seller will be notified in the event the policy is expired or otherwise terminated. There are even some printed forms which address these issues.


4. There is no liability to third parties if there is an accident, if the vehicle has really been sold and registered in the buyer.


5. Typically, the title is sent to the lien holder (seller) and the registration is sent to the purchaser, as owner (subject of course to seller's lien).


6. There is always the risk, as with any kind of vehicle or personal property financing, that the buyer will take the vehicle off into the sunset, to parts unknown, contract be damned. For that reason vetting the buyer as a responsible and credit worthy person is as important as the documentation.


All this is a mouthful...but a lawyer can handle it all if the seller feels overwhelmed by the necessary details.

If you need a lawyer to sell your RV your problem is not selling the RV it’s dealing with your minds inability to handle simple tasks.

[Pete'sMH]

Originally Posted by ducksface

We went to my bank, electronically transfered the money to the loan account he had on his rv, he gave me title, we drove away on his plates with a handwritten bill of sale in case of a random enforcement stop.
10 days later he got the lien release and overnighted it to me.
I attached the lien release to the title, went to dmv and transferred it from his Missouri title to my Arizona.
I mailed him his plates.

We were both good judges of character.

How did the seller happen to have the title if he had a lien on it?

[lwmcguire]

Originally Posted by Pete'sMH

How did the seller happen to have the title if he had a lien on it?

Many states do hold the title now

Back in my KS days early on they simply noted the lien on the title

We have lived in MO for years but never had a vehicle or RV with a lien so don't know how it works here. I know we get the titles back quickly when purchasing and transferring

Maybe someone else can chime in as I am curious

[ducksface]

Missouri is estate hold not lien hold on titles.(I'm not sure of the exact phrasing de jour. It's been a while since I've had to tell anyone the difference.)
If Missouri is not estate hold I don't know how he had the title.
Some states differ. I think California banks are lien hold and keep the title.


It would have made no difference other than the title would have been mailed with a stamp and signature instead/along with a lien hold release letter.

As the Banker said in the post above
Call for a 10 day payoff. This means what the payoff will be in 10 days so if there's any delay they'll still accept the payoff. By federal law any amount over (used to be 14 cents I think) is refunded to you so there's no risk.

By calling for payoff you've ascertained:
Bank name
Address
Account number
Payoff amount
Vin number
Registered owners name
Protocols.

Then go to your bank or sellers bank or Motor Vehicles Dept and handle it.



And
I've NEVER bought a private party vehicle without insisting on a copy of the sellers ID. They can block out any info they are paranoid enough to block but name and picture stays. I've bought cars without titles before by having the seller write a bill of sale right across the copy of his driver's license.
You balk, I walk.

[CTRvs666]

I just sold a large 2017 5th wheel mid bunk. Low Book was 28K, I had offers of 19K, to 26K. High book was $42k. I was given those prices on a trade for a $165K motor home. I would have taken $36K and then saved some sales tax due to the difference. So I put it in the ads at high book, $41,990.00 and had some modest action on it. I sold it to the third person that called that was a serious buyer. in between that I had offers for Paypal and Cashiers Checks and "my agent will pick it up" (all scammers) and I had one person that wanted to make payments to me. Hell no. But I was polite. The person had bad credit and it would just be my loss when he left never to be seen again.

When I sold my unit I signed the paperwork at the credit union that held my note, and they took the persons money, and paid off my loan. Then they cut a check to me for the difference. It was clean and a safe transaction.

My advice, is to make sure it is spotless, post a minimum of 25 pictures per ad so the looker feels like they have a good idea of the condition and then run several ads, local, rvt, etc, at high book or best offer and hopefully it will cover your loan. It will sell if the price is anywhere in the range of low to high.

[ducksface]

Originally Posted by CTRvs666

I just sold a large 2017 5th wheel mid bunk.

When I sold my unit I signed the paperwork at the credit union that held my note, and they took the persons money, and paid off my loan...It was clean and a safe transaction.

Exactly.
There isn't an ounce of mystery to any of it.

[RoryJ]

In a word: DON’T DO IT!

[Msdpok]

Pete’s A lot of states issue a copy of the title with the lien holder listed on it!!

[hikerjohn7]

Originally Posted by tomsvegas

We are considering selling our 2015 Vegas (in Bay Area, California) and I talked to several dealers about the consignment route. It is by far the safest. The downside is they really try hard to get you to agree on a low ball net on sale, so they can maximize their margin. I know, it is strictly business. Also, a downside is your rig is on their property and maybe mis-handled, poorly secured, etc, and you have no use for it while it is on consignment. I think we will go the "try to sell directly" and hopefully find a buyer with cash.

I have thought, too, that when I do sell my RV, I would like to sell it directly to try to get a better price than through consignment.

Also, since the sale would be my last RV (I would not be planning to buy another RV), I figure it could appeal to a buyer to have the cabinets and hatches already full of all the equipment they need to hit the road (everything from tools to dishes, etc.).

Is this a reasonable expectation?

Also... what are the best RV marketing channels or method through which to find prospects for direct sale?

[ducksface]

We sold our toyhauler loaded to the gills with goodies and new sheets and chairs and chow and even an extensive tool kit.

Our 24.1 came to us with every drawer stuffed with food, new sheets in the factory package, chairs, charcoal, full tanks of water and fuel, and a new slinky, two compressors and even an extensive tool kit.

It was greatly appreciated.
Do it.
Make a friend and rid yourself those tripping hazard Flippin' awful folding chairs and the third set of flatware at the same time.

Fully loaded.
Fully fun.
Both parties benefit.