paying before trailer is here

[lee_worsdell]

just informed from the bank that my trailer payments start next week. Think I need my trailer first, gave them 11500 down payment trailer wont be here until 3rd week of may. I don't think iam paying for something I don't have

[lee_worsdell]

at least swamp land is cheap in florida,you pay 150000 acre here,lol

[HD_Hauler]

I say go back to the bank and let them know that you are canceling the account before the window of cancelation runs out. And then go see the dealer and let them know you need to see the trailer and do a complete walk thru before purchasing. this is crazy why pay for something that you haven't seen or touch or tried out, if you can't cancel the account with the bank arrange it that payment be delayed until trailer acceptance. or if you don't go this route Aaaaa I have some swamp land in Florida I need to sell (just Joking).

[rhagfo]

just me wrote:
This is how not to purchase a trailer 101. sorry but had to say it. Get some coaching next time, Excitement got the best of you.

I agree, and should be lesson learned.

When we purchased our used unit from Local CW,the 5er was about 250 miles away at another Camping World. They wanted us to sign the papers and pay then, we had not yet walked the unit, the answer was NO! We gave them a deposit to hold the trailer, I believe it was $500 or &1,000.
This was on a Tuesday, we drove to the CW in Burlington, WA. that Saturday. During our PDI we found a couple more items not seen in the pictures in the add and got another $500 of the asking price.

Keep in mind he who has the money has the power!!! Give the dealer your money early and you have just lost all your power!

[just_me]

This is how not to purchase a trailer 101. sorry but had to say it. Get some coaching next time, Excitement got the best of you.

[time2roll]

I agree with no RV no signing loan papers.

Even my dealer was a bit miffed because my trailer needed some minor stuff before I took possession and I would not sign until it was ready to roll.

[Steve_Martin]

LOL Trlrboy! 🙂

[cjoseph]

I see you made a good down payment. Was the remainder to be secured with a lien on the RV?

If so, I like your bank.

They gave you a loan before the property that secures it was even built. That doesn't make any sense to me. Maybe your loan is unsecured? If not, do they have a VIN, title or certificate of origin?

I put $5,000 down on a MH February 23. It's being built, almost done. I made application for a loan, but that's it. When the MH comes in, we put $30K more down and write a finance contract for the rest. The bank we finally go with will write the loan with a lien on the MH as security.

How did you and your bank get the cart before the horse? The big question is, "Who has the MONEY?" Please don't tell me your dealer has been paid for an RV that they haven't even received from the factory. How does that happen? Too many things can happen between factory order and delivery.

Dealer or factory bankruptcy, RV burns en route, death of purchaser (sorry dude had to bring it up), I could go on and on.

Please explain.

[Trlrboy]

Steve_Martin wrote:
Lord have mercy. The OP makes a statement based on a frustration and ends his comments admitting that it's his own fault. Then others come on and talk down to him like he's some sort of child. Lighten up people! The problem with our society today is anger.

What can we all say, Steve? Well... excuuuuuuuuuse me. 😛

[RECVEH2005]

Yes, it's obvious that the OP probably made a mistake. However, I agree with Steve_Martin who said "The problem with our society today is anger."

Mike

[Steve_Martin]

Lord have mercy. The OP makes a statement based on a frustration and ends his comments admitting that it's his own fault. Then others come on and talk down to him like he's some sort of child. Lighten up people! The problem with our society today is anger.

[bob_nestor]

mpierce wrote:
you bought the trailer, and paid for it. You signed a loan to make payments. Make the payments. Not the banks fault the trailer is not there.

Just like if a month after you get the trailer, someone runs into the back of the trailer, and it is in the shop 3 months getting fixed. Do you expect the bank to forgive paying the monthly payments? I think not.

You should have paid a deposit for the ordered trailer, and completed the loan when the trailer got there. You did it the other way, paying up front. Your choice, your payments.

AMEN! Is it just me or do others see this as typical of the current state of our society. "I made some poor choices or bad decisions in the past and now I see how it's impacting me. Someone else needs to be held accountable and pay for my actions, not me!"

[mpierce]

you bought the trailer, and paid for it. You signed a loan to make payments. Make the payments. Not the banks fault the trailer is not there.

Just like if a month after you get the trailer, someone runs into the back of the trailer, and it is in the shop 3 months getting fixed. Do you expect the bank to forgive paying the monthly payments? I think not.

You should have paid a deposit for the ordered trailer, and completed the loan when the trailer got there. You did it the other way, paying up front. Your choice, your payments.

[westernrvparkow]

ol Bombero-JC wrote:

Trlrboy wrote:
That all depends on the paperwork you signed for your loan. Every loan statement has a payment amount and start date.

Unless it's a signature loan (very doubtful) the bank sure isn't going to part with *their* money unless they have a title in hand - for the trailer the bank (and you) own.

Could be something fraudulent going on!.:(

Call bank - be polite.

Call dealer - don't be polite.

~

It sure appears that they ordered a rig the dealer wouldn't order without it being paid for, which is becoming more common since the dealers either cannot or do not want to be on the hook for a rig that might not be sold. Once someone sign the loan papers, the bank will have funded the money, perhaps even into an escrow account, but in their eyes, the loan has been funded and the repayment schedule will need to be followed or you will be in default. They obviously have the ability to withold that first payment and deal with any consequences since there is no one physically forcing themm to write the check.
They could badger the dealer, but the dealer can't make the factory build the rig any faster. They can make themselves a real pain, but will that really help when the rig arrives? They can hire an attorney, spend the money and maybe even make enough ruckus that the dealer will flat cancel the deal, but even then they may very well be entitled to some amount as forfeiture of a deposit and is that really what they want? They have many options, but most of the ones that have much instant gratification and give that feeling that they have "stuck it to the man" will really only hurt them in the long run.

[fj12ryder]

IMO you're pretty much stuck unless there is something in your contract with the bank that will allow you out of the contract if delivery isn't made in a reasonable amount of time. Was this amount for the down payment or the complete delivery amount?