Owner Financing

[Forrest13]

Hi Folks,
I need help with an owner financed trailer. I recently had to close my business that tanked my credit score. I recently have gone to work that requires me to travel. I would really like to pull a trailer to these sites. I am asking for an individual that may be interested in selling and financing a late model trailer. I am able to put a small down payment and the pay up to 1000.00 per month. If there is anyone willing please email me back. Thank you, Bob

[drsteve]

Ralph Cramden wrote:

Forrest13 wrote:
Hi Folks,
I recently have gone to work that requires me to travel. I would really like to pull a trailer to these sites.

If the OP ever comes back after being read the riot act without knowing all the facts, I would like to know if maybe he has a free spot to park this trailer at the jobs he will be traveling to. That's the way I took the statement in his post above, construction maybe. In that case living in an RV may be the best financial decision.

You're not going to live in Amy hotel for $1000 per month unless it's a total dump.

That was what I thought too. A lot of folks jump to conclusions around here...

[exintrunk]

That was brutal.... maybe some more facts?

[westernrvparkow]

For a seller, this would only make sense under one basic scenario.
Seller has an old trailer that is actually worth around $1,000 to $2,000 just sitting, gathering dust and is not important to the seller's financial situation. The seller sells it to the buyer for $5,000+ and gets $1000 down. Now, the seller has minimal risk and significant upside. This is how the "tote the note" car dealers operate. Have maximum upside and minimum money on the street. Most even take it a step further and require weekly payments, so the buyer can't get too far away. But even in these transactions the seller gets a lot of personal information, verifies residence, gets personal references and the like so they can track down the seller in the likely event they start missing payments.
The seller MUST take all the steps necessary to legally transfer the title and secure a lien. NEVER hold the title until the balance is paid. If an accident should happen the seller would still be on the hook and liable for any claims. Ditto for traffic tickets etc.
Personally, it wouldn't be worth the effort and risk to make at most a few thousand dollars. I would just dispose of the $1000 rig and be done because I know that most of these deals never pay to anywhere close to maturity and most of that hoped for profit is going to be vaporware.

[Bird_Freak]

Love the way some folks here assume they know what is best for the OP. Some should keep your opinions to yourself and just answer the questions.
Can't fix rude people.
Just my opinion.
Trash me if you think you know better.

[Ralph_Cramden]

Forrest13 wrote:
Hi Folks,
I recently have gone to work that requires me to travel. I would really like to pull a trailer to these sites.

If the OP ever comes back after being read the riot act without knowing all the facts, I would like to know if maybe he has a free spot to park this trailer at the jobs he will be traveling to. That's the way I took the statement in his post above, construction maybe. In that case living in an RV may be the best financial decision.

You're not going to live in Amy hotel for $1000 per month unless it's a total dump.

[soren]

Gdetrailer. GREAT POST! I am stunned by how much **** gets pushed as "a great way to hack the cost of housing" anymore.

We spent the winter in a low cost area of Florida. We were near a family of five young kids, in a brand new, low end gas calls A. The economics of the whole thing were beyond stupid. The park was almost $600/month and three bedroom houses in the area were renting for 1100. By the time the monthly nut on the rig and the lot rent were paid, it was far more expensive to stick these poor kids in a park full of seniors, that to get them into a nice house in a nice neighborhood, with some stability.

One a related note, some idiot just wrote an article in our local paper about how the elderly should sell their homes,build THEIR OWN tiny house (as a DIY project with friends) and enjoy the magic of life on the road. That whole idea is so flawed, I wouldn't even know where to start, when it comes to a "WTH are you thinking?" response. Turns out the writer attended a local tiny homes show, and decided to whip up a piece for the paper, without a single moment spent thinking about the mess created by any poor fool who follows his advice.

let's not even get started with the clowns that have their blogs about how they have it all figured out, since the are young hipsters living in a new RV, with a loan that's only a few hundred a month. Sure it is, but the loan is for 20 years, and your mass market, low end fifth wheel that you are fulltiming in, will be a worthless, worn out pile of uselessness, long before that last payment is due.

[mat60]

Had a guy on cregs list say he would pay me for a car I had for sale when his tax money came in.

[marcsbigfoot20b]

On the surface......smells fishy.

[Lwiddis]

“This is gonna sound pretty darn harsh.“

Gde, honest opinions are never harsh.

[time2roll]

Save your $1,000 per month until you can pay cash.
If you can really save that it sure will not take long.

[gbopp]

Gdetrailer wrote:
This is gonna sound pretty darn harsh.

Sometimes the truth hurts.

[Gdetrailer]

Forrest13 wrote:
Hi Folks,
I need help with an owner financed trailer. I recently had to close my business that tanked my credit score. I recently have gone to work that requires me to travel. I would really like to pull a trailer to these sites. I am asking for an individual that may be interested in selling and financing a late model trailer. I am able to put a small down payment and the pay up to 1000.00 per month. If there is anyone willing please email me back. Thank you, Bob

This is gonna sound pretty darn harsh.

Absolute STUPID move on your part.

FORGET ABOUT A FINANCING A RV, PERIOD.

You are not in a position to do that.

Living in a RV is not cheap or easy, your going to HAVE to pay for a place to camp in your RV, it is hard to find campgrounds that offer say 30 day pricing during summer season. Many campground may enforce min and max stays during summer. And popular places can be hard to get into.

You ARE going to be paying anywhere from $40 PER NIGHT to $100 PER NIGHT at most commercial campgrounds ($1200-$3000 per month).

You might find some state parks for $10-$20 per night but once again many have limitations on your max stay and the hot ones fill up fast and may need to reserve months ahead. Many state parks offer very limited hookups and some don't at all.

Many campgrounds in northern US CLOSE COMPLETELY FOR WINTER.

Heating a RV in the winter is not cheap, it is easy to burn through 30 lbs of propane in just a few days.. RVing in the winter in the north is not for wimps.

For some reason folks seem to think that living in a RV is like free shelter, it isn't.

Do you and your new employer a favor, get a hotel/motel room for a while.. If assignment is a few months in one place at a time perhaps look for some furnished apartments for short time rentals.

If you absolutely insist on the stupid route (RV), then find A VERY OLD one, should be able to find something from the 1990s for $2K or $3K. Yeah, you WILL be dealing with leaks, some rot and most likely broken things but at least you won't have a stupid loan on a depreciating asset (you as a former business man should understand the stupidity of a loan on something that loses value).

Go, look at Craigslist, look for 1990s to perhaps early 2000..

While most folks would most likely not go to the trouble of doing a credit check I doubt you going to find many that would be willing to do a payment plan on something with wheels.. You could disappear with no trace and the seller will be out of the money you promised.

Titling, licensing and insurance ARE major hurtles that would be nearly impossible to work out.

[Ralph_Cramden]

Have you talked to any RV dealers Bob? Unless by tanking your credit you mean you have multiple thousands owed out there at present or a judgement, a dealer will het you a loan with low numbers. It may not be favorable interest rates, but with the trailer securing the loan and being employed, you should be able to find one somewhere. Especially if you can commit to a 1K per month payment.

[DutchmenSport]

Read through this recent post. Click here.

The original poster was looking for something just like this, from the other side.