Buying online from Elkhart dealer. What should I watch out for.

[Kbvols]

Tumble Weed, if you owe more on your current RV then it's market value or trade in value and you are upside down then yes the dealer will not eat that amount and will roll back into the loan for the new unit. Unlike a home which in most cases are assets that appreciate over time RV's only depreciate and in reality are more of an expense than asset. With 15 yr financing available the units depreciate faster than the payment schedule pays of the unit. Just my 2 cents worth. Also I bought my unit from Great Lakes in Elkhart and for the most part have been please. The salesman I had lacked some follow thru skils however. I ended up dealing directly with Rob the owner. I am getting some warranty work done and everyone has been great so far. There place is pretty no frills (low overhead) plus factory is 6 miles away thus less $ in the cost to dealer.

 

[kakampers]

It works like this as an example...you owe $30k on your current unit, but the trade value is only $20k...that means there is still $10k to be paid off. That remaining amount will get added to your new loan...nothing "strange" about it.

 

[danemayer]

I want to buy this RV,
they keep giving me a price that's cheap and then they say.
We go to roll over what you owe on your old 5th wheel back
into the new note.
So there wanting me to pay off my old one for them to re-sale.
Then the new one will have what it cost and also my old ones pay off.
Don't sound right to me.

Hi Tumble Weed,

Sounds like they're saying that you owe more on the old RV than the trade in value. So they propose adding the difference to the new loan.

A different dealer might tell you a higher trade in number, but then charge more for the new trailer. The new loan could come out the same either way.

If you think the old trailer is worth more, you can try selling it first, either yourself or on consignment.

Then you could take whatever is left after paying off the old loan and apply it toward the new purchase.

Sent from my iPad using Tapatalk HD

 

[kowAlski631]

It's called being upside down. No different with anything you purchase & then want to sell. The holder of the lien has to be made whole on what you still owe them. Some people actually like to have the owed amount rolled into the new loan so they don't have to come out of pocket. JMHO

 

[jassson007]

We have been working with RV capital in Elkhart for over a year before we finally put in a buyers order last week and have been nothing but very nice and accommodating to us. Started working with an ex heartland employee, darric, before he left for greener pastures and have worked with my current rep for close to 9 months and has bent over backwards to get the BC the way the DW wanted it. No one in south louisiana or se tx could or wanted to match his prices. He did low ball my trade but did get him to come up $1000 on it with out changing price of the BC. We have had a pleasent experience so far and hopefully will at pickup in may.

 

[Theresau]

We ordered our new BC through Lakeshore RV. Salesman has been very responsive and diligent throughout. I felt they had the best price. I had checked with other dealerships near/in Elkhart and Lakeshore had the best deal. However, the trade they offered I felt was pretty low. We were lucky as we sold ours on our own afterward - we took the risk and it panned out. We sold greater than the trade but much lower than the NADA value.

Theresa