RV Bankruptcy - Lost Deposits & Trailers

[dino7c]

Originally Posted by ranchlandsselling

I haven't seen as much as I thought there would be.

really? I bought a trailer for 15k that some sap paid 39k for a couple years ago and used twice

[Sliver]

Originally Posted by dino7c

really? I bought a trailer for 15k that some sap paid 39k for a couple years ago and used twice

You did well, but those deals aren't exactly falling from trees yet. I've been looking at a couple of makes of sports car and their prices are holding stronger than I would have expected.

[pylon]

Originally Posted by CorsiHockeyLeague

... Which you can get just going to a bank, since that's where the dealership loans are coming from anyway.

Not exactly. Dealers get way different programs than branches.

In most cases, I get rates from the bank, better than what they offer at the branch level. Dealers will commit to millions and get big rate discounts. In many cases, I have branch employees, finance through their own employer, with me doing the loan/paperwork here, because their branch can't touch it, even at staff rate. It's goofy, but it's just the way it is.

Secondly, RV loans can be done through dealers on 20 yr amorts. Most branches will only do 10. As asinine as a 20 yr amort is, a lot of people take them as it's the only way they can afford it.

[btimbit]

Originally Posted by Sliver

Have you ever had anything made custom? No business owner with half a brain would ever begin working for you without a deposit.

I've sold probably 30 used cars over the years. Most people don't show up with your asking price in cash. You take a deposit while they sort out their finances. And if you're buying a used car, you do the same thing. New car likewise.

I never take a deposit, or leave a deposit, on cars. If you don't have your finances set up already then why are you looking at private sales. Need a week to sort out your finances then fine, but I can't guarantee the vehicle will still be here. If I'm buying private, I don't even look at vehicles that I don't already have the cash for.

[calgarygeologist]

Originally Posted by ranchlandsselling

I haven't seen as much as I thought there would be.

I like to check out Regal Auctions in the spring in order to see if they have any decent trailers that have been repo'ed during the winter and so far this year they easily have three times the inventory of previous years.

[Sliver]

Originally Posted by btimbit

I never take a deposit, or leave a deposit, on cars. If you don't have your finances set up already then why are you looking at private sales. Need a week to sort out your finances then fine, but I can't guarantee the vehicle will still be here. If I'm buying private, I don't even look at vehicles that I don't already have the cash for.

You can have your finances set up all you want, but you still need to physically get a cheque and insurance before the car can move. If I want the car, I'll give you a deposit to make sure you don't sell it to somebody else or change your mind. It seems like the best way to ensure a smooth transaction.

I look at it as prudent; dealing without deposits seems risky to me.

[OMG!WTF!]

Originally Posted by dino7c

really? I bought a trailer for 15k that some sap paid 39k for a couple years ago and used twice

I'll give you 11k for it in September.

[bizaro86]

Originally Posted by OMG!WTF!

I'll give you 11k for it in September.

Come on man, oil's over $40 again. Double meat subs and RVs for everyone.

[btimbit]

Originally Posted by Sliver

You can have your finances set up all you want, but you still need to physically get a cheque and insurance before the car can move. If I want the car, I'll give you a deposit to make sure you don't sell it to somebody else or change your mind. It seems like the best way to ensure a smooth transaction.

I look at it as prudent; dealing without deposits seems risky to me.

Stopping at the bank and making a phone call isn't worth risking having someone steal a deposit. Dealing with deposits seems even more risky to me. If the seller is a decent person he'll give you an afternoon, day, whatever to get the money and insurance set up. If he's not willing to do that, then he's a dick, and dicks don't treat their cars very well so you probably dodged a bullet.

[Slava]

Originally Posted by pylon

Not exactly. Dealers get way different programs than branches.

In most cases, I get rates from the bank, better than what they offer at the branch level. Dealers will commit to millions and get big rate discounts. In many cases, I have branch employees, finance through their own employer, with me doing the loan/paperwork here, because their branch can't touch it, even at staff rate. It's goofy, but it's just the way it is.

Secondly, RV loans can be done through dealers on 20 yr amorts. Most branches will only do 10. As asinine as a 20 yr amort is, a lot of people take them as it's the only way they can afford it.

I'm not sure who is making a worse decision here. The person for buying so much trailer/RV that they need 20 year amort. or the lender for lending money for 20 years on a depreciating asset. Mind Boggling.

[Sliver]

Originally Posted by btimbit

Stopping at the bank and making a phone call isn't worth risking having someone steal a deposit. Dealing with deposits seems even more risky to me. If the seller is a decent person he'll give you an afternoon, day, whatever to get the money and insurance set up. If he's not willing to do that, then he's a dick, and dicks don't treat their cars very well so you probably dodged a bullet.

I don't know, man. Whenever somebody buys a car off me it's their lucky day because I treat my cars insanely well, but I take a deposit every single time. There's no way I'd twiddle my thumbs for an afternoon waiting for a flaky dude to run a bunch of errands (plate, insurance, bank) before he came back to buy my car. If you won't give me a deposit, I don't trust you at all and the car is still for sale.

All the transactions I've done have always gone smooth, so who knows? Maybe I'm so used to doing it the one way, people just kind of go along with it. I thought it was objectively the right way to do things, but I guess there is more than one way to skin a cat.

[btimbit]

If it works then by all means there's nothing wrong with it. I'm just not comfortable giving a stranger money without getting anything in return but a promise. I trust banks about as much as I trust a random guy on kijiji, so a dealer never gets a deposit either

[Weitz]

Originally Posted by Sliver

Have you ever had anything made custom? No business owner with half a brain would ever begin working for you without a deposit.

I've sold probably 30 used cars over the years. Most people don't show up with your asking price in cash. You take a deposit while they sort out their finances. And if you're buying a used car, you do the same thing. New car likewise.

I just don't see how an adult could get through life doing normal adult things without ever having to lay down a deposit. Who would even take you seriously with that attitude? Have you ever rented a home? Damage deposit. Have you ever bought a home? Deposit.

It's not like people asking for deposits are trying to rip you off. They're reasonable.

Considering I was talking about buying a car/RV/atv from a dealer I don't see where your tangent here has any application. Mind you my original post wasn't exactly clear. I was referring to buying something off a lot at dealer.

[Sliver]

Originally Posted by Weitz

Considering I was talking about buying a car/RV/atv from a dealer I don't see where your tangent here has any application. Mind you my original post wasn't exactly clear. I was referring to buying something off a lot at dealer.

It's all good.

[NuclearFart]

Originally Posted by Sliver

I don't know, man. Whenever somebody buys a car off me it's their lucky day because I treat my cars insanely well, but I take a deposit every single time. There's no way I'd twiddle my thumbs for an afternoon waiting for a flaky dude to run a bunch of errands (plate, insurance, bank) before he came back to buy my car. If you won't give me a deposit, I don't trust you at all and the car is still for sale.

All the transactions I've done have always gone smooth, so who knows? Maybe I'm so used to doing it the one way, people just kind of go along with it. I thought it was objectively the right way to do things, but I guess there is more than one way to skin a cat.

Question for one of CP's lawyers:

Does them giving you a deposit, actually entitle you to keep the deposit if they renege on the sale though? I'm not sure it does unless you've both signed a contract stating so, but I ain't a lawyer.

[dino7c]

Originally Posted by OMG!WTF!

I'll give you 11k for it in September.

lol, lucky for me I work in the US so the Alberta economy doesn't effect me other than a sweet exchange rate and good deals! Gonna buy a truck here soon too.

Paid for the trailer with cash, I can't imagine making payments on something that is a lawn ornament 8 months a year

and yeah if someone asked me to put down a deposit I would tell them to EAD...plenty of fish in the sea no need to hold an RV

[4X4]

Originally Posted by dino7c

Paid for the trailer with cash, I can't imagine making payments on something that is a lawn ornament 8 months a year

But to be clear, this is entirely your decision, right? I mean, you're not saying that camping season (especially with a trailer) is only from May long to labour day, right? Because that's as goofy as the people that think they can only BBQ when it's 20 degrees or warmer.

Camping season has already started for lots of people, and it goes until October or sometimes even November. That's more like 7-8 months of use and 4-5 months of lawn ornament.

Sorry for picking on your post. Just a bit of a gear grinder when people get all dramatic about Calgary weather, and our "8 months of winter". It's going to be 12 and sunny tomorrow and 10 on Sunday. Nice hiking weather.

[Sliver]

Originally Posted by 4X4

But to be clear, this is entirely your decision, right? I mean, you're not saying that camping season (especially with a trailer) is only from May long to labour day, right? Because that's as goofy as the people that think they can only BBQ when it's 20 degrees or warmer.

Camping season has already started for lots of people, and it goes until October or sometimes even November. That's more like 7-8 months of use and 4-5 months of lawn ornament.

Sorry for picking on your post. Just a bit of a gear grinder when people get all dramatic about Calgary weather, and our "8 months of winter". It's going to be 12 and sunny tomorrow and 10 on Sunday. Nice hiking weather.

This is so true. I actually prefer camping right now versus the summer in a lot of ways, chief among them is how there are so few people. Last weekend I took my daughter (9) out camping. Made a bed in the back of our minivan and it was so fun. Hard side trailer? Camp year round, man.

[dino7c]

Originally Posted by 4X4

But to be clear, this is entirely your decision, right? I mean, you're not saying that camping season (especially with a trailer) is only from May long to labour day, right? Because that's as goofy as the people that think they can only BBQ when it's 20 degrees or warmer.

Camping season has already started for lots of people, and it goes until October or sometimes even November. That's more like 7-8 months of use and 4-5 months of lawn ornament.

Sorry for picking on your post. Just a bit of a gear grinder when people get all dramatic about Calgary weather, and our "8 months of winter". It's going to be 12 and sunny tomorrow and 10 on Sunday. Nice hiking weather.

Good for you

This has not been a normal winter by any means, temps are still far above normal.

anyway I have four months a year maybe that I am free to camp on weekends no matter the weather. Yes my trailer is a lawn ornament 8 months a year so I can't imagine making payments on it...what other people do certainly doesn't change that.

[jeffh]

Originally Posted by 4X4

But to be clear, this is entirely your decision, right? I mean, you're not saying that camping season (especially with a trailer) is only from May long to labour day, right? Because that's as goofy as the people that think they can only BBQ when it's 20 degrees or warmer.

Camping season has already started for lots of people, and it goes until October or sometimes even November. That's more like 7-8 months of use and 4-5 months of lawn ornament.

Sorry for picking on your post. Just a bit of a gear grinder when people get all dramatic about Calgary weather, and our "8 months of winter". It's going to be 12 and sunny tomorrow and 10 on Sunday. Nice hiking weather.

I respect this, to a point. A true Calgarian bbq's any day of the year. For my family, camping season is from May long to (Canadian) Thanksgiving. I would like to camp earlier and maybe get some time on the slopes at the same. So, leads me to ask, if anyone does off-season camping & skiing? Where do you camp/ski? And power available?