Holding loan for buyer
We are going to be selling our 2007 Winnebago Journey. Since it is over 10 years old, most buyers will not be able to get financing. Has anyone had any experience in holding the loan for the buyer? ...
Forum Discussion
As most people have posted, there is significant risk in doing this on your own....However, there are several reputable companies out there that do this professionally - especially in the motorhome space. They will place he RV, do all the paper work, collect a substantial down payment, place a GPS tracker in the unit, manage all the interactions with the buyer, etc. The Buyer has to insure the unit with both you and them covered. They make money on the down payment and some on the monthly payment. Otherwise, you can sell the unit outright or sell it on the wholesale market.
