Help with PUP purchase problem

[dkutz]

We are trying to buy a 03 coleman/fleetwood pup and have hit a snag.  When we went to look at the trailer the owner (2nd owner)said, "oh and I meant to tell you I don't have the pink slip, I am still paying the original owners" So I said we would give her a deposit, but not pay until we saw the pink slip. Turns out the first owners don't have the pink either, because they are still paying off the loan. The first owners have said they will fill out a legal doc that allow us to have the trailer.  However I am still afraid of the first owners stopping payment on the loan the the trailer being taken from us.

Anyone have suggestions on this?  We really like the trailer but don't want to end up losing our money over this.  Is there a legal way to settle this problem?  Maybe with a form from the bank loan or something?

Thanks

[markwi]

I would look for another camper you like, this dose not sound good at all.  Mark

[waygard33]

I've run into the same thing with ATVs, and even cars.

IMO there are only 2 options:
1)Work it out between the 3 parties so you end up walking into the bank with them, paying off the loan, and walking out with the title.

2)Move on to another camper.

The guy trying to sell you the camper right now is stuck holding the bag. You don't want to take over his position.

Good luck.

[Martlet]

Don't buy it.  There are too many opportunities for something to go wrong.  If owner 2 doesn't pay owner 1, owner 1 can repo.  If owner 1 doesn't pay the bank, the bank can repo.

[dkutz]

yeah we backed out yesterday

[BillMc]

About myself, I use to frequnt this group allot when it first started, but with life everything changes and interst change. I don't know about you, but for me I can only answer the same question so many times. I feel like I need to be honest with this group. 2 weeks ago while my wife camped and I worked[I got in two weekends]I looked under the Rockwood, only to see the begining stages of rot in all four cornners. I have always maintained this unit, with the cost of such a luxery item you have to maintain. As the wife said no worry, we bought the extended lifetime warranty. Well folks Forest River/Rockwood/Flagstaff, what ever you want to call them wanted to blame it on me. I told thier customer service/warranty dept. We bought the extended warranty. Well they said it is your fault for not maintaining the unit. You didn't caulk/seal it at the cornners. I did this every spring. I am really disappointed with Forest River, mainly due to the fact that I talked so well about his company. Well in short no more Forest River products for me or my family members. I am hoping that Fleetwood will be better only time will tell. I have though found a good dealer. So that is my story. Forest River is a lousy company and thier extended warrany is only as good as they are which isn't much. Thanks for letting me vent.
BillMc
Here is the link to another board so you can read the replies there:
http://www.popupexplorer.com/forum/topic.asp?TOPIC_ID=60086

[austinado16]

yeah we backed out yesterday

Too bad it was so convoluted, but a wise decision on your part.  I'd be a lot of fun to wake up one morning to the repo man standing on your front steps giving you a courtesy notice that your camper was about to head off without you (as if they'd actually do that).

You'll find another, and probably a nicer one.  They seem to be knee deep on Craigs List and probably your local auto trader mags too.


Note to BillMc.  I appreciate your situation, but posting the same story in multiple threads, especially here on this person's thread, is just not cool, and it makes you look like a whiner.  You might want to delete your duplicate here.

[wavery]

yeah we backed out yesterday

Too bad   ......that's a great PU......

Maybe you'll be lucky and find a better one than that one at a better price..... :sombraro:

[MomboTN]

This happens everyday with homes that have first and second mortgages and equity lines.  I am sure that the 2 parties between you and the bank do not want to have the loans and would be happy to be out of the loop.  As long as someone is not upside down then you pay party "B" he pays off party "A" and they pay off the bank and you get the clear title.  You could also use this to find out what everyone owes and further negotiate the price for your extra headaches.
I have also used this to negotiate a good rate with the bank because they have that camper as colateral for a loan.  If you are a better credit risk they would rather have you on the loan and you may be able to get a better rate.  It is a win win situation.

Good luck, just take it one step at a time and get it in writing.  No title no purchase.

[dkutz]

This happens everyday with homes that have first and second mortgages and equity lines.  I am sure that the 2 parties between you and the bank do not want to have the loans and would be happy to be out of the loop.  As long as someone is not upside down then you pay party "B" he pays off party "A" and they pay off the bank and you get the clear title.  You could also use this to find out what everyone owes and further negotiate the price for your extra headaches.
I have also used this to negotiate a good rate with the bank because they have that camper as colateral for a loan.  If you are a better credit risk they would rather have you on the loan and you may be able to get a better rate.  It is a win win situation.

Good luck, just take it one step at a time and get it in writing.  No title no purchase.

No we walked away fromthis one.  The second owner had paid off her $10,000 to the first owner, but the first owner obviously didn't put that money towards their loan, because it still was not paid off.  

Its Ok though we have found another trailer from some very nice people how actually have the title.

[BirdMan]

I would run.  Fast!  I hope you did not put a deposit down.  There are lots of pop-up's out there and if you keep looking you will find a good one.