L2C
Placentia ca
Full Member
Joined: 04/02/2012
View Profile
Good Sam RV Club Member
 Offline
|
Anyone know anything about taking over payment on an rv?
|
Ka Ron
Kelowna
Senior Member
Joined: 12/31/2009
View Profile
Offline
|
Yup, you take over the payments from the bank or finance company and the owner transfers the RV to you.
You will need to be approved by the lender.
Join Us For A Trip Down The RV Highway
|
2oldman
Winchester WA
Senior Member
Joined: 04/15/2001
View Profile
Offline
|
Are you selling or buying?
|
wny_pat
Western NYS
Senior Member
Joined: 08/11/2007
View Profile
Offline
|
The bank or lender is lien holder and is listed on title as such. You best be dealing with them for approval of such a deal.
|
judelaurenzo25g
Downey, CA
Senior Member
Joined: 09/09/2006
View Profile
Offline
|
Dont fall victim to a scam. There are a lot of take over payment schemes on craigslist.
|
|
|
okgc
Southern Michigan
Senior Member
Joined: 09/25/2006
View Profile
Offline
|
Caution ...Scam alert
2010 Tiffin Allegro RED 36 QSA with Chevy HHR toad
2009 Chevy 2500HD CC 4x4 w/6.0 Vortec
Sundowner horse trailer
My hobby cars
1965 Chevy Impala SS 396
1964 Chevy Nova SS
|
robsouth
Near Atlanta, GA
Senior Member
Joined: 06/20/2004
View Profile
Good Sam RV Club Member
Offline
|
Talk directly with the lien holder. Payment take overs happen every day and are not always a "scam". If you and the lien holder come to terms, there is nothing wrong with the deal. Most times the original borrower is still on the hook until you pay off the loan anyway.
"Sometimes I just sit and think. Sometimes I just sit." "Great minds like a think."
|
JimGo
Glendale, AZ
Senior Member
Joined: 11/17/2011
View Profile
Offline
|
Without being approved by the lender and the title changing names......You're just making someone's payment for them. Taking over payments is probably against the loan note provisions.
I would think if you go through qualifying it would be a new loan with the lender. JMO
Jim and Terri
2007 Pace Arrow 37C
W22 Chassis, 8.1 Vortec, Banks PowerPack, Allison 1000
2012 Chevy Nox LTZ AWD
Black Lab "Jessi"
|
skipnchar
Topeka or somewhere else
Senior Member
Joined: 12/17/2003
View Profile
|
Look over the load very carefully. You will be stuck with the interest rates the previous owner had and it MAY not be the best available rate.
2011 F-150 HD Ecoboost 3.5 V6. 2550 payload, 17,100 GCVWR -
2004 F-150 HD (Traded after 80,000 towing miles)
2007 Rockwood 8314SS 34' travel trailer
US Govt survey shows three out of four people make up 75% of the total population
|
mowermech
Billings, MT
Senior Member
Joined: 06/28/2003
View Profile
Offline
|
The reason for a "take over payments" deal is often that the current owner owes more than it is worth, and you won't be able to get a new loan for that amount. You need to look at the principal still owed, the actual value of the rig, and the interest rate to see if taking over payments is a good deal for YOU.
It will probably be better to arrange your own financing, and pay the existing note off completely.
BUT, as long as the title is transferred to your name, and the previous owner is gone from the title completely, and the principal amount is OK, and the interest rate is OK, then why not!
CM1, USN (RET)
2002 Fleetwood Southwind 32V, Ford V10
Toad: 2006 Jeep Rubicon LJ
Other toad: '06 PT Cruiser, Kar Kaddy dolly
Toy: 1977 Dodge W100 CC SWB, 3/4 ton axles & springs
"When seconds count, help is only minutes away!"
|
|
|
