Community Forums

RickO · 10-24-2014, 04:41 PM

Quote:

Originally Posted by Bigd9

That rig is one clean ride! Question, is it a pusher or a gasser?

It's not a DP, but an EP.... the next big thing is going to be electric pushers! Doesn't ride as well as my DP though...

Tetonchief · 10-30-2014, 06:32 PM

I've sold cars (professionally) in the past. If you can sell something yourself, you are money ahead of the game. No you are not going to get retail--you are selling as is and once the deal is done it is done. You aren't responsible after that Unless you out right lie or defraud someone--but that goes with a dealer too. You can be passing on potential buyers as well since many lenders (credit unions) will not do consignment sales (only dealers or private--middlemen are sometimes a problem). It is easy to find out the wholesale (loan value) of your unit. This is what a dealer would give you if you dove it in and said take it off my hands. Mind you I'm talking a unit that is in good shape for its age, use and mileage. Better condition easier to sell, worse condition,harder to sell and you won't get average wholesale either. Banks, credit unions use average wholesale for the most part as they are not looking at your unit physically and can't account for its actual condition. A dealer can and would put more or less in accordingly, but on consignment (since you aren't racing for something they have and want to sell) you'll get the lower end of the value. Any private buyer wants to buy your vehicle as close to wholesale as possible too--the older the unit gets the less depreciation each year there is. If the new buyer needs to finance their purchase they want to try not and become upside down in their purchase. So, the closer you sell to wholesale value the faster it will sell. The closer you sell to retail the harder it will be to sell and the more demanding (and harder to deal with) the purchaser will be. Finally, buyers are for the most part honest--they are looking because they want to buy and as long as it is within their means then it becomes a matter of is it a good value for the money. If you are a seller and you know there is something wrong with your unit or needs some sort of service in the near future, be honest about it--fix or repair it or tell the buyer and tell him how you are discounting the asking price by that amount so they can take care of it.

RickO · 10-30-2014, 08:14 PM

Quote:

Originally Posted by Tetonchief

You can be passing on potential buyers as well since many lenders (credit unions) will not do consignment sales (only dealers or private--middlemen are sometimes a problem)..

Can you explain please? I'm not sure what the lender has to do with selling via consignment.

Rick

Tetonchief · 10-30-2014, 08:56 PM

Quote:

Originally Posted by RickO

Can you explain please? I'm not sure what the lender has to do with selling via consignment.

Rick

Only if the buyer needs to finance--some lending institutions will not deal with 3rd party sales. Alliant Credit Union (aka United Airlines) does not. They are a lender that is recommended in Escapes RV. Current as of OCT 2014.

RickO · 10-31-2014, 09:00 AM

Quote:

Originally Posted by Tetonchief

Only if the buyer needs to finance--some lending institutions will not deal with 3rd party sales. Alliant Credit Union (aka United Airlines) does not. They are a lender that is recommended in Escapes RV. Current as of OCT 2014.

So if someone wanted to buy my coach from the dealer's lot where I've consigned it, Alliant CU wouldn't lend them money to buy it?

Just trying to understand.

Rick

BillorTeresa · 10-31-2014, 06:33 PM

It's easy to begrudge anyone who makes a "commission" or any type of "mysterious" type of money in the sales industry. But unless we have been there and watched a salesperson spend a whole day with "tire kickers" who never buy a thing it's easy to think a sales person makes easy money. They don't.

Tetonchief · 11-01-2014, 08:03 AM

Quote:

Originally Posted by RickO

So if someone wanted to buy my coach from the dealer's lot where I've consigned it, Alliant CU wouldn't lend them money to buy it?

Just trying to understand.

Rick

Yes Rick, that is what I am saying--they don't deal with consignment. I am not sure why, maybe there has been some funny business in the past where titles don't clear smoothly etc. I am just quoting what I was told just three weeks ago when I got my pre-approval.

RickO · 11-01-2014, 08:05 AM

Thanks.

Tetonchief · 11-01-2014, 08:38 AM

I certainly don't begrudge a sales person, I done it in the car industry, Harleys, and retail as well. Any "sales person" that spends a "whole" day with "tire kickers" is not a very good sales person. Learning to "qualify" a lookieloo from potential buyer is something you learn early on. Sure there are days you work the "shows" that you are just presenting your wares and knowing 99% of who you meet won't buy that day and only 10-15 percent of those are potential buyers in the coming 3-6 months.
With all the differences there are between RV makers, let alone model years of the same manufacture the number of experts out there are very few and far between. My point is, there is no better expert for your unit than you! A distant 2nd would be a dealer that specializes in your manufacture. Not all the so called sales persons out there are experts--it is hard enough for a dealer to know the attributes of the current year models on their lot. You've lived in it, drove it, parked it etc. When someone comes to see it you are the most excited about the unit and in the best position to answer a persons questions.
If it was easy, all the calls you get from "consignment dealers" when you list something on line or in the paper with offers to sell it for you would come with "no cost to you up front--you only pay if it sells."
The nicer your RV (or car or motorcycle etc) the easier it is to sell--that goes for a dealer, a consignment dealer, or you. Yes it can be a hassle if you have to take the cover off, or get it from the storage place, or open it up to show, and if you are physically unable to do that or you are working full time and with other family obligations it makes more sense to pay someone else to do those things for you. But I still believe if you price your vehicle right and "sizzle the sale" when someone comes to look at it (far fewer lookieloos go to see a single unit than walk RV lots) you will succeed.
The one fly in the ointment is the person who is upside down in their vehicle--when you owe the finance company more than what the vehicle is worth you are between a rock and a hard place, especially if you are selling because you need the money and can't afford to keep making the payments. Sometimes it is best to scape together all the money you can to be able to make up the difference between what a buyer will give you and your payoff to make the deal and get out from under your debt. Swallow your pride and move on...

joshuajim · 11-01-2014, 10:00 AM

If you got the great looking female and 2 dogs in the deal, I would callout outstanding!

frankdamp · 11-01-2014, 10:47 AM

We'll be doing the consignment thing next week. Some friends sold their 98 Bounder with this particular dealer last week. It was in good shape, but had no slide-outs. Ours is an '02 and has two slides, a new fridge last year and 4-year-old tires.

This particular shop has a fixed price for selling your rig ($595.00), offers to take trade-ins and has financing options. We used a home equity loan to buy it, so there are no title encumbrances.

Our rig is in excellent shape inside, but has a couple of minor body scrapes. The generator won't start and we're not sure if the rubber roof is OK. The dealer will look everything over and give is quotes on fixing things that need it and will deduct the costs from the what the MH sells for.

The consignment agreement includes NADA wholesale and retail estimates, which we'll get after they've inspected it.

Our friends' Bounder was with the dealer from late July and sold last week, so they saved 3 months of storage fees also. We keep ours at home, so how long it takes to sell isn't critical.

I'll post again about our initial experience after we meet with the dealer on Monday.

cptgregger · 11-01-2014, 01:55 PM

I'd be interested to hear from those who used PPL in Houston. I'm going to list mine at wholesale price on CL in my local area come January. If it doesn't sell within two weeks I'll be taking it to PPL. I have heard both good and bad from a couple of friends who used them.

Gary RVRoamer · 11-03-2014, 07:41 AM

Quote:

Yes Rick, that is what I am saying--they don't deal with consignment. I am not sure why, maybe there has been some funny business in the past where titles don't clear smoothly etc. I am just quoting what I was told just three weeks ago when I got my pre-approval.

I'm not clear on why the consignment agent would even be involved from the lendor viewpoint. The title transfer is coming from a private seller, not the consignment dealer. Maybe that's the point - the lender will deal only with the actual seller for vehicle title and payment. Doesn't want to get in the middle of any obligations the seller may have to the sales lot, i.e. commission payment or whatever.