Lease Back Programs???
I have no idea whether I am posting this to the correct forum, but here goes, and if somebody can suggest another forum or the Mods want to move this, please do. I am not quite to retirement age bu...
Forum Discussion
We did this with our first motorhome back in 90.We knew we would not have time to use it a lot so it would have spent a lot of time sitting beside the house.
We never intended for it to become our motorhome to travel where ever and be what most of us have, a house with wheels at our beck and call.
It worked for us for the most part, at least until the original dealer/lease company went bankrupt owing us over $3K! We were fortunate though nothing was damaged and the coach was in good shape.
Leased it back out after 6 months through a different group and that worked ok too. In both cases there was a commercial insurance policy with $1million liability on it.
Read the contract closely if you decide to do this so you know exactly what who is responsible for, like maintenance, license and repairs.
If your plan is to take it back after 2 years to use as yours I would wait 2 years and either buy a 2 year old coach or new at that time.
What the leaseback accomplishes is giving you some income and tax advantages with limited personal use. You are not leasing out your house that only has systems that most people understand, this they have to drive down the road and miss stuff, operate systems they have never used before etc.
We never intended for it to become our motorhome to travel where ever and be what most of us have, a house with wheels at our beck and call.
It worked for us for the most part, at least until the original dealer/lease company went bankrupt owing us over $3K! We were fortunate though nothing was damaged and the coach was in good shape.
Leased it back out after 6 months through a different group and that worked ok too. In both cases there was a commercial insurance policy with $1million liability on it.
Read the contract closely if you decide to do this so you know exactly what who is responsible for, like maintenance, license and repairs.
If your plan is to take it back after 2 years to use as yours I would wait 2 years and either buy a 2 year old coach or new at that time.
What the leaseback accomplishes is giving you some income and tax advantages with limited personal use. You are not leasing out your house that only has systems that most people understand, this they have to drive down the road and miss stuff, operate systems they have never used before etc.
