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Old 04-21-2014, 07:34 PM   #1
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Help with dealer selling my trade in before I have received my coach that was ordered

Has anyone experienced this before.?
I ordered a new motorhome from a dealer and I agreed to allow the dealer to take early possession of my trade in that had no lien. The dealer has sold the motorhome I traded and the dealer now wants the title on the late model trade in before I have the papers on my coach on order. There was no agreement before the dealer picked up the coach and it did sell fast and I do owe the dealer on the difference of the trade.
I am prepaying a large amount of money before papers are signed and I have possession of my new coach and I feel uncomfortable sending the title but it has already been about 4 weeks since my trade in was sold
This is a large dealer but there should been disclosure to me before this came up
Has anyone out there experienced this before and if so did you give the dealer your title?
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Old 04-21-2014, 07:46 PM   #2
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Ouch! That would be a huge risk on your part. If the dealer bellied up in the meantime you would be an unsecured creditor and really out of luck.. My suggestion would be that the funds from the sale be placed into an escrow account with either the trust department of a bank or an attorney you trust, if you can find one. If you give them the title and there is any problem with the delivery or the new coach you are not in a good position.
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Old 04-21-2014, 07:55 PM   #3
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Escrow! His contract is only as good as the paper it isn't written on.
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Old 04-21-2014, 07:58 PM   #4
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I'll share my experience. I ordered my new MH in Sept 2013. It is now going on May 2104 and I still don't have it. It was delivered two months ago, refused and sent back to the factory. I wish I had not sold my old MH, I would be driving it now instead of still waiting for my new one.
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Old 04-21-2014, 08:13 PM   #5
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Help with dealer selling my trade in before I have received my coach that was...

I say have them give you in cash the same amount they allowed you for the trade minus a deposit amount for the new coach you ordered. When the new coach comes in, you can pay them for it then. Be the same as if they purchased your coach outright and then you ordered a new one. After all they are now holding your money for free and their advantage I believe. Not that money is not worth much in interest now days, but you are still at risk of losing it...just a suggestion.
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Old 04-21-2014, 08:34 PM   #6
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When the dealer sold my coach there was a late model motorhome taken in on trade
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Old 04-21-2014, 09:30 PM   #7
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Obviously a good lesson for others thinking of turning over posession on their trade in "before" there coach arrives. You did state that you agreed to allow the dealer to take possession of your trade in. I am pretty confident the dealer did not agree to not sell your trade in, and pretty confident you did not think they would sell it that quickly. Stuff happens and unles somewhere within your contract agreement you could withhold the title of your trade in until your coach arrives, you are stuck with providing it to them.
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Old 04-21-2014, 09:33 PM   #8
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Quote:
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Obviously a good lesson for others thinking of turning over posession on their trade in "before" there coach arrives. You did state that you agreed to allow the dealer to take possession of your trade in. I am pretty confident the dealer did not agree to not sell your trade in, and pretty confident you did not think they would sell it that quickly. Stuff happens and unles somewhere within your contract agreement you could withhold the title of your trade in until your coach arrives, you are stuck with providing it to them.
Beside giving the dealer the title I also paid a $5000 deposit at the date of agreement
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Old 04-21-2014, 09:36 PM   #9
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Beside giving the dealer the title I also paid a $5000 deposit at the date of agreement
The problem is that there was no agreement presented to me about providing the title if the trade in was sold
I should have thought ahead but was just trying to get more allowance on my trade so giving it to them early did away with any changes in book value and I was not going to use my coach anyway
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Old 04-21-2014, 09:56 PM   #10
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Quote:
Originally Posted by freen03
The problem is that there was no agreement presented to me about providing the title if the trade in was sold I should have thought ahead but was just trying to get more allowance on my trade so giving it to them early did away with any changes in book value and I was not going to use my coach anyway

It was your expectation that your Dealer would provide you with free storage of your MH and also absorb the ongoing depreciation while you waited for your new MH to arrive. Why was this your expectation?
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Old 04-21-2014, 10:21 PM   #11
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I see your point but my point is that I could have ordered a new motorhome with a $1000 deposit and paid the rest at delivery if I did not have a trade
This way I am paying a $270,000 deposit and my motorhome will be delivered the third week of June
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Old 04-22-2014, 07:31 AM   #12
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I say have them give you in cash the same amount they allowed you for the trade minus a deposit amount for the new coach you ordered. When the new coach comes in, you can pay them for it then. Be the same as if they purchased your coach outright and then you ordered a new one. After all they are now holding your money for free and their advantage I believe. Not that money is not worth much in interest now days, but you are still at risk of losing it...just a suggestion.

The one difficulty of going this route is that you may then be on the line for the total sales tax on your new rig rather than the trade difference. This may be the best way to protect yourself, but it may also be costly from a sales tax perspective depending on the state in which you will purchase and register the new unit.
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Old 04-22-2014, 10:43 AM   #13
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The one difficulty of going this route is that you may then be on the line for the total sales tax on your new rig rather than the trade difference. This may be the best way to protect yourself, but it may also be costly from a sales tax perspective depending on the state in which you will purchase and register the new unit.

Good point! Didn't think of that. Sounds like there is no easy fix.

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Old 04-22-2014, 12:26 PM   #14
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Well not true as the dealer sold the vehicle not you, therefore you will only be responseable for the difference for sales tax.
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