First Time Buyer...Updated 03/06/2006

We just purchased our first MH in Sept. We looked and looked at shows, sales, internet and e-bay. We watched to see what rigs were going for. We read all the forums and what owners had to say about their units, good and bad. We even called a couple of finance groups to get pre-approved. Then we saw a unit that we had forgotten about that was about to expire on e-bay and the reserve had already been met. With 30 minutes to go we researched the NADA and found the bidding to be well under the wholesale value, and we placed a bid. With the exciting, fast biding at the end we found we were the owners of a 2004 Monaco Diplomat 40PDQ for $85,000. The the battle really started with the finance company (ESSEX)who insisted that the deal could be done in the 7 day required time limit. At the same time the loan world was starting to fall apart and the interest rate rose twice before they would finalize the deal. The owners were eager to get the deal done because they were purchasing another unit and needed the money for a down payment. After begging and getting an extention of time from the owners we were able to drive the 10hrs to pick up our new MH. All went well except for few minor issues. We were VERY lucky to have done a deal with reputable private owners. It could have been a night mare. It isn't something I would recommend to everyone but it worked for us.