Selling to Camping World

[MalthomasAR]

Hello All, newbie here. I have a 2018 Forrest River Surveyor 287BHSS that we are looking to sell fast. Our nearest Camping World (2.5hrs away) gave us a quote of $18K to straight-sell, not consign. We would be happy with that number but I didn't know if they have a reputation for slashing that number upon inspection and if so, how much on average. They also have the policy of getting checks cut and sent in the mail so we would see our money within a week or two. Is this normal? I didn't know if I should push them to get a check cut while we are there or hold the sign contract until the check is given to me. It'll be a nuisance to have to do that whole drive again when the check is ready but I want to make sure we don't get screwed.

Thanks in advance!

 

[Jireh Financial]

Just for the record, Used Wholesale on that unit is MUCH, MUCH (did I say MUCH?) higher than that. Things are selling fast anyway, how big of a hurry are you in?
Ken

 

[MalthomasAR]

Just for the record, Used Wholesale on that unit is MUCH, MUCH (did I say MUCH?) higher than that. Things are selling fast anyway, how big of a hurry are you in?
Ken

Not a big hurry but we don't want to hang onto it until Spring, worried the bubble might pop before we can sell it. I know it's worth more but the thought of selling it with it being financed is not worth the hassle.

 

[Jireh Financial]

We work with private buyers and sellers all the time. Making payoffs and handling the finance part is what we do. Buyers would be approved during our process and ends with your loan paid off and balance sent to you electronically. The bubble is not popping anytime soon. At least not until mid-summer when the new inventory straightens out a bit.
You are walking away from a considerable amount of money with this transaction.
If it's financed, they would not pay you first anyway. They would send funds to your lender first and get the lien released. Anything left over would come to you but AFTER the lender first.
Let me know if we can help.
Ken

 

[MapNerd]

I’m with Ken, shop it around. Dealer’s are hurting for inventory, especially inventory without problems.

 

[MalthomasAR]

We work with private buyers and sellers all the time. Making payoffs and handling the finance part is what we do. Buyers would be approved during our process and ends with your loan paid off and balance sent to you electronically. The bubble is not popping anytime soon. At least not until mid-summer when the new inventory straightens out a bit.
You are walking away from a considerable amount of money with this transaction.
If it's financed, they would not pay you first anyway. They would send funds to your lender first and get the lien released. Anything left over would come to you but AFTER the lender first.
Let me know if we can help.
Ken

If I sold private party and someone wants to pay cash, are they usually pretty chill about paying and then getting the title when it's sent by the bank we have it financed through? I'm just new to the process but I worry that would deter a buyer.

 

[Jireh Financial]

There is always the question when someone mentions "cash". Are you talking about a stack of $100s or a transaction without financing? If you take a check (even certified) your bank will hold it for 5 - 10 business days before you have access to it. That means no release until the check clears. Do you think your buyer will just patiently wait for that? I wouldn't. We would NEVER pay a person first that has a lien. I would not suspect any buyer that cares about his money would hand over any method of payment and HOPE the released title comes. First money always goes to the bank. Anything above the payoff would go to the seller. Then comes the lien release. Most banks have a central location that holds titles. Some of that depends on the state you are in and if title is at owners home, electronically filed or actually at the bank filed away. I don't know what state you are in so not sure what process would apply to you.
Your bank would generally hold a dealers check as well. We deal strictly in electronic funds. Most generally a wire and that means instant access to the money. Still, your seller would be foolish to even wire funds to you directly and wait for the title.
We have been doing this for 14 years. My old company did 1,700 transactions in 2020.
Ken

 

[MalthomasAR]

There is always the question when someone mentions "cash". Are you talking about a stack of $100s or a transaction without financing? If you take a check (even certified) your bank will hold it for 5 - 10 business days before you have access to it. That means no release until the check clears. Do you think your buyer will just patiently wait for that? I wouldn't. We would NEVER pay a person first that has a lien. I would not suspect any buyer that cares about his money would hand over any method of payment and HOPE the released title comes. First money always goes to the bank. Anything above the payoff would go to the seller. Then comes the lien release. Most banks have a central location that holds titles. Some of that depends on the state you are in and if title is at owners home, electronically filed or actually at the bank filed away. I don't know what state you are in so not sure what process would apply to you.
Your bank would generally hold a dealers check as well. We deal strictly in electronic funds. Most generally a wire and that means instant access to the money. Still, your seller would be foolish to even wire funds to you directly and wait for the title.
We have been doing this for 14 years. My old company did 1,700 transactions in 2020.
Ken

I just didn't know how payoff and release of Lien goes when the buyer is paying in full. Thanks for the helpful info, I appreciate it.

 

[Jireh Financial]

If you reconsider and want to sell it, we can help any buyer with financing. Sure would make some of this more simple. Just as a rough number, you camper should bring upper $20's, no problem.
My cell is below if you want to talk about a plan.
We are ready when you are.
Ken

 

[Jim]

Hello All, newbie here. I have a 2018 Forrest River Surveyor 287BHSS that we are looking to sell fast.

Thanks in advance!

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