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Old 06-22-2020, 08:37 PM   #1
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What do folks do when they're too old to drive their rv?

Just wondering what people do when they get 0ld to drive their RV. Like me I owe a lot on my rv, upside down like everybody is. Can you make a agreement with who you owe to take rv sell and you pay the difference or a agreed price? Any ideas would help. Thanks
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Old 06-22-2020, 09:07 PM   #2
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Pay someone to drive it where you wish to vacation
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Old 06-22-2020, 09:08 PM   #3
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Sorry to see you in this situation. Contact your dealer and see what they say. There are other consignment lots you can use or just try to sell it out right your self in RV trader, here in the classified section or other sellers.

Good luck.
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Old 06-22-2020, 09:15 PM   #4
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I don't think I would want to let the lender be the seller. Why not sell it yourself and pay the difference to the lender? They wouldn't have your best interest at heart when they would offer it for sale. They are only interested in a quick sale to recapture the loan. Especially if they know you're going to pay the difference.
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Old 06-23-2020, 09:14 AM   #5
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Quote:
Originally Posted by TonyDi View Post
I don't think I would want to let the lender be the seller. Why not sell it yourself and pay the difference to the lender? They wouldn't have your best interest at heart when they would offer it for sale. They are only interested in a quick sale to recapture the loan. Especially if they know you're going to pay the difference.
Totally agree!
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Old 06-23-2020, 09:39 AM   #6
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Just wondering what people do when they get 0ld to drive their RV. Like me I owe a lot on my rv, upside down like everybody is. Can you make a agreement with who you owe to take rv sell and you pay the difference or a agreed price? Any ideas would help. Thanks
First off, not everybody is upside down on their RV's. Secondly, if you are upside down and too old to drive it, you've made some questionable financial decisions.
If I were in your shoes, I would clean it up till your tired of cleaning it, then clean it some more and put it up for sale on your own. You need every dime you can get.
You don't really need to mention your pay off to potential buyers until you get a serious offer, then you can workout the details.
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Old 06-23-2020, 09:54 AM   #7
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What do you do? Always thought old folks should get issued a 16 year old at retirement. The kid needs driver training and the retiree eventually needs a keeper with effective and attentive driving skills. Never able to establish that relationship, so guess we will face same at some point in time.

So - now looking to technology to provide a self driving vehicle. Can we last that long. Seems like a great objective.

To the real question, what to do if you no longer wish to use the RV? Easy peasy - pay off the loan and list it for sale on one or more RV sites. One is easier to track and manage. Now is the time - folks are looking. Then get ready to meet some nice people, some scammers, some dreamers, and some flippers looking for the deal of the century. But, how better to extend your RVing lifestyle than to interact with folks who want to do same.

On the scam issue - talk to your banker. Understand wire transfer and cashier's check use. If you don't know the buyer, and the buyer is from out of state, be aware that is the three leg stool of a scam. Oh, yes - the third leg is the internet communication. Of course, you will have a lot of very honest folks looking to buy your coach too.

If dealing with all of the issues is beyond your day to day capability - use a consignment service. Alternatively, some of the dealers actively look for quality coaches to resell. A few phone calls may help you decide if that is viable.

Your question is one of the most valuable subjects that we will all address at some point in time. There is no need to sell if you do not need the money. Most do. It might be better for many to develop a plan before there is a need.

Full timers need an exit plan and a home base with a paid-off RV are critical elements of that plan if they do not intend to return to a sticks and bricks lifestyle.

Our plan will be to sell the coach when we can no longer use it. The question is, will there be a self driving vehicle that can take it's place or will we just be done. Some plans can't be finalized until you view the campsite.
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Old 06-23-2020, 12:01 PM   #8
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I've bought and sold quite a few vehicles over the years but I'm not interested in doing that now. It was easy back in the days but there are too many scammers and dreamers who would want to waste my time these days.

If I was in the situation the OP is, I'd look into using a LEGITIMATE consignment business such as PPL to take care of the whole shebang. The selling price would be lower than what I might think it should be but that would be worth it to me because of the less headaches involved.
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Old 06-23-2020, 01:30 PM   #9
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I'd recommend taking your last trip to Houston and leaving it a PPL Consignments. However, better give them a call and talk about it first. I don't know what they do if it's still being financed. Ours was paid for.
We sold ours within one month. We named the price although PPL recommended one. We asked higher thinking people always want to come down in price. Our buyer flew in from Florida and paid the price we were asking. It was a very easy process and they get a LOT of traffic coming through there.

Here are the diesels for sale now:

https://www.pplmotorhomes.com/used-r...tBy=price+desc

Here are the diesels PPL sold within the last 2 yr. and their selling price:

https://www.pplmotorhomes.com/diesel-motorhomes-sold
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Old 06-23-2020, 01:30 PM   #10
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In spite of what you said, not everyone is upside down on their RV, and that really is the crux of your post isn’t it? Otherwise you wouldn’t even need to ask.

Your only option is to sell it, and if it’s not worth what you owe, you must pay the difference.

BTW, just letting the bank take it back is BAD, I repeat BAD idea. They will auction it off, and when they get thousands less than the balance on the loan they will send you the bill. This happened to my wife’s aunt and uncle.
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Old 06-23-2020, 02:09 PM   #11
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In spite of what you said, not everyone is upside down on their RV, and that really is the crux of your post isnít it? Otherwise you wouldnít even need to ask.

Your only option is to sell it, and if itís not worth what you owe, you must pay the difference.

BTW, just letting the bank take it back is BAD, I repeat BAD idea. They will auction it off, and when they get thousands less than the balance on the loan they will send you the bill. This happened to my wifeís aunt and uncle.
Even if the financial institution eventually writes off the negative balance (plus the expenses they incur, plus penalties and interest) you will be on the hook to the IRS for the taxes on the forgiven amount. That's because the IRS deems forgiven loans as income. And unlike the bank, they won't write that debt off.
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Old 06-23-2020, 02:19 PM   #12
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This topic has came up before, it seems the best course of action is to contact the lender and see if they will settle for a negotiated settlement for whatever you can sell it for. Explain that you are needing to sell due to health issues and are unable to use the RV as you had intended.


The lender does not want the RV, they would rather have as much money as they can get in their hands now, and not some promise that you will continue to pay them in the future on an unsecured loan.
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Old 06-23-2020, 02:53 PM   #13
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I keep my RV in a member owned campground with 300 units in secured storage.

The RV park has two trucks moving RV's out of storage and on lots most days. I have not touched my RV in 25 years.

In my retirement years, I'm good not traveling anywhere. The park is triple first class in every way.
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Old 06-23-2020, 04:07 PM   #14
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All the folks in my circle either paid cash or had a hefty down payment to minimize interest

The consignment lot is good advice

DP prices are up in this area due to the surge in sales recently
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