Need Your Tips re Selling My T@G Trailer Still Under Payment Plan

memphiahn

Dear my T@G forum friends,

I have been very hesitant to ask this question to you (I am still) because I don’t want to leave my T@G away. However, my current situation may say so. My wife and I will have a baby soon (VERY HAPPY), but my wife wants a “bigger” trailer (with kitchen and toilet inside) when our baby is ready for a journey at the wilderness a couple of years later. So, we decide to sell it off if possible.

But, the issue is that our trailer is still under payment plan from a local bank (4.5 years payment remaining). I guess I don’t get any money left in my hands after considering the deprecation (our 2018 T@G XL Outback is in MINT condition with full option (even pre-installed solar panel)).

Here is my question: how can I sell my T@G under this situation assuming that I find a buyer soon? I guess this is not an uncommon situation. Any help/tips will be greatly appreciated.

P.S. I couldn’t find any better categories related to my posting.

Best,
memphiahn

LuckyJ

I would first get in touch with your bank and ask them what is the condition to rei,busre the loan and how much it is and if you have to pay some kind of compensation. All this shoild be in your loan contract.

Then you will know how to proceed with the sell.

Good luck.

Bit not to change your mind, but just to comments that many folks camp with toddler, even in winter using tents.

But I kind of beleive that the mother already has her mind set for this.

mgreen2

Most consumer loans can’t be assumed by a new owner. You have to pay in off when you sell. It won’t effect the value or sale price.

Michigan_Mike

As Luc noted, find out what the payoff on the trailer is. I would at least try listing it for sale for the payoff price if your intent is to be clear of the loan and interest/credit implications. You signed the loan document and are bound by the agreement and it's highly unlikely you'll find anyone out there to take over your payments on the trailer.

The only other thing to do is sell it outright, or at an attractive price (you may have to sell it for a loss) to someone with the understanding that ownership will be obtained once the balance of the loan is paid in full and you and your mortgage company can sign the trailer title over to the new owner. Talk to the mortgage company, tell them what you're wanting to do and proceed from there.

memphiahn

Thank you, all! Great suggestions!!!

memphiahn

Dear @LuckyJ, @mgreen2, and @Michigan_Mike,

My wife and I decided to keep our T@G for us and our baby to come up. We can’t find any, better option than our T@G at this time. Thank you!

Best,
Memphi@hn

BBsGarage

Good for you guys, and congrats on the new addition!!
Although I did snicker a little when you said "in a couple of years" our daughter was 6 months old and our son 1 month old when we first brought them camping in a pop-up trailer.

LuckyJ

Super. You will enjoy the time in it. An XL is wide enough for you and the baby.

Have fun outhere!

memphiahn

Thank y’all so much!!! You guys are super kind and resourceful!

Best,

memphi@hn

Michigan_Mike

Congratulations on the new addition and post up shots of your trailer and the fun you are having with the new baby at the campsite.... Great story and very happy for you and your family as this is how traditions start and it’s always nice to have something to look forward to!