Action credit services,,, leasing MH

[logman]

Has anyone used them to sublease or sell a MH ?

[msmith1199]

I just went and looked at their webpage. Look at their inventory page and notice the newest photo in there is dated in Nov of 2012. Also notice how they say their intent is to get you out of a motorhome you are upside down in and they claim you have no liability. They guarantee the payment on the motorhome. First of all, who in the world would assume a loan on a motorhome that is upside down? No smart person would do that, unless it's somebody with completely ruined credit. So who in their right mind is going to give a motorhome to a person with terrible credit and then guarantee they will make the payments? Who in their right mind would do that even for somebody with good credit?

[westernrvparkow]

Run Ussain Bolt fast from any sublease. Your insurance will no longer be in force, the sub-lessee will trash your rig and if you can find it after the lease term you will be left with a bucket of bolts, if you are lucky. If you are unlucky, you will be stuck with some huge liability due to an accident and improper documentation of the lease. Or, as the other poster pointed out, you still owe money on the rig, the bank will repossess the unit because sub leasing is contractually prohibited on virtually all purchase contracts, you will have a repossession on your record and the guy that was leasing it will be suing you for failure to honor your end of the contract. The only people who will be sub-leasing an RV are people who don't qualify to buy one. If a bank with billions of dollars in assets isn't willing to take the risk to receive the possible reward, why would you?

[msmith1199]

No, but if you're talking sublease it while you still owe money on it, be very very careful with any company offering such a service. Your contract on your motorhome someplace probably says you can't do that, so if you do it and they quit paying, then the money left owing is still on you.