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Old 10-16-2019, 06:38 PM   #1
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When to submit trade in on custom build

I just ordered a custom build fifth wheel today. The dealer gave me 40k for my trade in fifth wheel. Total price is about 85k.
Since the new fifth wheel will take about 8 weeks to build and deliver, I'm wondering what the normal timeframe would be for me physically taking my 5th wheel to the dealership as part of the payment.

The dealer suggested that I give him the trade in on consignment asap, so they can try to sell it asap to gain maximum trade value before the turn of the year.
This does not sound good to me, as i would own it while it was on his lot, with people trampling through it, with risk of damage and loss of or stolen articles.

1- I can wait the 8-10 weeks and trade it in at the time the new one arrives, at the agreed upon price

2- I can get it to him as a payment somehow, not on consignment, as once it's in his hands I don't want to be responsible for it. This method seems dicey because if he sells it, and when the new rv arrives and somethings wrong with it such that I refuse to accept it, then he would have my 45k ( 5k deposit on new one ) and that could get messy trying to get it back.

I'm not going to do consignment, or #2 above, probably #1, but wondering what the normal procedure is in this situation.

thx. b.
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Old 10-16-2019, 06:46 PM   #2
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Number one, if it was mine.

After you inspect and approve of the new one, he gets his payment.
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Old 10-16-2019, 07:06 PM   #3
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May get a bit more trade in but sounds like a lot of risk for you. If you like the deal you have now I would not be inclined to do it.
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Old 10-16-2019, 09:59 PM   #4
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When you pick up the new one..give them the old one.
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Old 10-17-2019, 12:51 AM   #5
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Quote:
Originally Posted by xrpb11a View Post
I just ordered a custom build fifth wheel today. The dealer gave me 40k for my trade in fifth wheel. Total price is about 85k.
Since the new fifth wheel will take about 8 weeks to build and deliver, I'm wondering what the normal timeframe would be for me physically taking my 5th wheel to the dealership as part of the payment.

The dealer suggested that I give him the trade in on consignment asap, so they can try to sell it asap to gain maximum trade value before the turn of the year.
This does not sound good to me, as i would own it while it was on his lot, with people trampling through it, with risk of damage and loss of or stolen articles.

1- I can wait the 8-10 weeks and trade it in at the time the new one arrives, at the agreed upon price

2- I can get it to him as a payment somehow, not on consignment, as once it's in his hands I don't want to be responsible for it. This method seems dicey because if he sells it, and when the new rv arrives and somethings wrong with it such that I refuse to accept it, then he would have my 45k ( 5k deposit on new one ) and that could get messy trying to get it back.

I'm not going to do consignment, or #2 above, probably #1, but wondering what the normal procedure is in this situation.

thx. b.
I may be missing something, but the two statements in red aren't making sense to me. Is the 40k trade-in value written as a firm price in the sales contract or could it possibly be reduced when you actually turn the unit over to them when your new fifth wheel arrives and you have had a chance to inspect it?
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Old 10-17-2019, 01:11 AM   #6
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what will you do if the new camper is not "up to snuff" and the dealer doesn't want to make it right...... and he's already sold yours..... so you are 40k into the trade already... ?
will the dealer freely and without fussing gladly hand you a check for 40k?
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Old 10-17-2019, 07:59 AM   #7
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Quote:
Originally Posted by BobGed View Post
I may be missing something, but the two statements in red aren't making sense to me. Is the 40k trade-in value written as a firm price in the sales contract or could it possibly be reduced when you actually turn the unit over to them when your new fifth wheel arrives and you have had a chance to inspect it?
I agree with Bob. Sounds like there might be some "fine print" that needs to be reviewed.
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Old 10-17-2019, 10:55 AM   #8
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I may be missing something, but the two statements in red aren't making sense to me. Is the 40k trade-in value written as a firm price in the sales contract or could it possibly be reduced when you actually turn the unit over to them when your new fifth wheel arrives and you have had a chance to inspect it?
Those two statements do not go together.
Either you traded it in OR you put it on consignment. You can not do both.
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Old 10-17-2019, 11:21 AM   #9
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I was in the same situation as the OP. I made a deal for a new coach that would take about 8 weeks for delivery. The dealer and I decided on a minimum trade in value, in writing as part of the contract. I then attempted to sell it on my own for 30 days. After 30 days and no sale, I took the coach to the dealer. We still had the minimum trade in price on the table, but if he sold it before my new coach arrived, he would take a percentage of the sale and anything over his percentage and the agreed upon trade in price, would go into my pocket.

So let's say he agreed upon giving me $100K as a trade in. If he sold it PRIOR to delivery of my new coach, he would take a cut of the sale for selling the coach on his lot, for easy figuring let's say $5K. Now if he sells my coach for $110K, I made an extra $5K in my pocket. If it didn't sell, he used the agreed upon $100K as the down payment/trade in value.

I didn't want to be the owner of two RV's when the new one arrived. I think it's silly to believe that a coach will be in such bad shape when it arrives that there will be no deal......just doesn't happen. There is also piece of mind in knowing that the trade in is a done deal, while waiting for the new one.

The other issue, are you going to take it camping and chance having it get damaged and the dealer back out of the deal. For 8 weeks, just unload it, try to sell it yourself and if no luck, give it to the dealer on consignment. The only thing you have to check....is your insurance still viable in a consignment situation.
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Old 10-18-2019, 10:59 AM   #10
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40k is written in.
I asked when they need my RV, and they suggested consignment, but said nothing about givingt it to them at the time we receive the new one.
Now I understand the situation better after reading all these responses, and will give it to them after I inspect the new one.

Also am thinking of trying to sell it myself in the meantime, as low retail is 50k and average retail is 55k (NADA)

So also wondering if I sell will that be a problem as they are probably expecting to make another 10k-15k on the deal and the trade in is written into the contract.


Quote:
Originally Posted by BobGed View Post
I may be missing something, but the two statements in red aren't making sense to me. Is the 40k trade-in value written as a firm price in the sales contract or could it possibly be reduced when you actually turn the unit over to them when your new fifth wheel arrives and you have had a chance to inspect it?
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Old 10-18-2019, 11:08 AM   #11
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Well I have 5k down payment on the new RV.
40k written into the contract for my old one.
Old one is still insured.

When the new one comes in, if things are broken and not fixed, or options are missing and not put in, I would just back out of it and work to get my 5k back. I am not accepting the new one and signing for it until everything is working and installed as demonstrated.

So in my mind I will only "own" one RV at a time. Once I sign the acceptance, I deliver the trade-in to them along with the final payment.

It will sit unused in storage until the new one arrives. Don't want to break things or have them stolen in the meantime.

But might try to sell it in the next 4-6 weeks to see if I can squeeze another 5-10k out of it.


Quote:
Originally Posted by Dutch Star Don View Post
I was in the same situation as the OP. I made a deal for a new coach that would take about 8 weeks for delivery. The dealer and I decided on a minimum trade in value, in writing as part of the contract. I then attempted to sell it on my own for 30 days. After 30 days and no sale, I took the coach to the dealer. We still had the minimum trade in price on the table, but if he sold it before my new coach arrived, he would take a percentage of the sale and anything over his percentage and the agreed upon trade in price, would go into my pocket.

So let's say he agreed upon giving me $100K as a trade in. If he sold it PRIOR to delivery of my new coach, he would take a cut of the sale for selling the coach on his lot, for easy figuring let's say $5K. Now if he sells my coach for $110K, I made an extra $5K in my pocket. If it didn't sell, he used the agreed upon $100K as the down payment/trade in value.

I didn't want to be the owner of two RV's when the new one arrived. I think it's silly to believe that a coach will be in such bad shape when it arrives that there will be no deal......just doesn't happen. There is also piece of mind in knowing that the trade in is a done deal, while waiting for the new one.

The other issue, are you going to take it camping and chance having it get damaged and the dealer back out of the deal. For 8 weeks, just unload it, try to sell it yourself and if no luck, give it to the dealer on consignment. The only thing you have to check....is your insurance still viable in a consignment situation.
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Old 10-18-2019, 03:02 PM   #12
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Your choice as to what to do......

You have many that gave you keyboard advice that have never been in the situation you describe and they have no skin in the game. I think it's smart to try and sell it and make that extra money. My coach was hard to sell, because the price is up where many would spend for a house. Your trailer falls into a more accessible range for many. Good chance you can sell it yourself. But if no bites, I would move it to the dealer for sale.

I also have to ask.....are you so concerned about the brand and dealer you chose that you think the new RV will be uninhabitable upon delivery? If so, I would look at another brand and dealer. Many like to flex their muscles and say...I'm not accepting the coach until everything is fixed....again, a great response from behind the keyboard.

So let's say the new fifth wheel comes in and one A/C is not blowing cold, a window got broken during delivery and the spare tire was missing. Any of those three items could be back ordered and take anywhere one week to two months until the new unit arrives. Are you going to decline finalizing the purchase. I think you would soon see the dealer selling your RV to another customer and you fighting for months to get your deposit back, if ever.

Lastly, you leave the coach parked in storage. Some vandals break in and steal the TV's, dash radio and whatever else looks good to them. Certainly, your insurance will cover the repairs, BUT during their removal of all those items, they ripped them off the walls and destroyed the wood work, door frame and half the interior. Now you have to try and make the thing look factory again and may not be accepted by the dealer as a trade in.

I was lucky, my coach is stored at home, so no vandals while I tried to sell it. My dealer had onsite security, so no issues there. Lastly, the dealer has something you don't. He has instant loan approval for a buyer, something you would have to deal with. Are you that willing to wait month for an RV, decline it over some minor repairs and then start the process over again. Easy to say, hard to do!
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Old 10-19-2019, 07:55 AM   #13
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Well that was a good counter response.
Tire missing? Buy and wait.
Broken window? Wait till fixed.
Ac not blowing cold air? In spring summer wait till fixed. Fall winter buy and wait.
Where I store my rv looks to be 1000% safer than where the dealer is located.
Vandalism at my storage place? Insurance pays and I wait 2 to 3 months for repairs. I'm not in super rush, not a stressed sale or purchase.
Lots of desirable upgrades but current rv totally useable .
Dealer sells to someone else? I pursue my refund and go buy again somewhere else. Not stressed to get immediate refund. One or two letters from lawyer should suffice. Nowhere stated refund is non refundable.

Bottom line. Minor things I buy and wait. Anything major I wait and buy. However I would be willing to buy and wait on major item if I hold something like 10% of sale price, keeping some kind of leverage so dealer is inspired to get it fixed quickly.
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Old 10-19-2019, 07:57 AM   #14
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Now come clean Dutch Star Don, which dealer do you work for, or are you a dealer,
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