Travel trailer Trade-in - what to do?
Went to my local RV Dealer yesterday, to get trade in value of camper.mWe have purchased our last 2 campers from them. I have a 2011 Passport Grand Touring , power hitch, power jacks, power awning, dv...
Forum Discussion
rbpru wrote:
The dealerships usually have a yard full of new TTs which they can sell for a certain percentage of profit.
If they are going to invest the time and resources selling your used unit, they want about the same profit margin.
If you wish to keep that profit for yourself you do not have much choice but to sell it yourself.
Good luck
Even IF the OP could sell their trailer "out right" on their own they will NEVER recoup the depreciation loss..
They may close the gap a bit but over all they will still owe MORE than what they will be able to sell it for.
They will have to "cover" this loss some how in order to pay off the bank loan in order to be able to give the buyer the title (remember the bank actually holds the title until the loan is paid in full).
The OP was willing to use credit cards to cover the loss at the dealer to the tune of $8,000! At 21%-25% interest rates on a credit card that will really hurt and make an already bad situation even worse..
If the OP can afford the increased credit card bills then why not simply put that payment that they would be paying the credit cards towards the principle of the loan?
Yes, they will have to hold onto the trailer a bit longer but in the end they will be able to cover the loss in value enough to trade in or sell off.
It is all about spending your money in a wise fashion, paying higher credit card debts is not being wise at all.. You are simply paying a loan shark and have less money in the end to work with.
