xctraveler wrote:
I don't need to have spent my working life as a financial planner to see the problems with this play. The worst case scenario is they have title to your coach and you still owe the finance company. Hmm, that was wrong right there, you still have title because the title is in your name and the current finance company. No way they will release the title to another party so long as you owe them. So you stop making payments assuming they will make them for you.
Think about what happens if they do not make a payment. The bank does a repo and you have nothing but the remaining debt. You would be putting your financial neck in the hands of a company that has no interest in protecting you.
If you are having a problem keeping up with payments and want to sell the coach sit down with the banker that holds the loan and see if they can work with you while you find a buyer. You will still owe any balance assuming you are underwater like most of us, but you may be able to protect your credit.
x2 This is sound advise, follow it.
Travelon
