Sell A Camper With A Lien On It

[MATTHAIAS]

I have a 2019 Grandby that I still owe on the loan and have a lien on it. My third kid is on the way and the camper no longer makes sense for us. I want to sell it, but I don’t have the money to pay off the loan. Has anyone here had experience with this that can give some advice?

Thanks!

 

[OverlandNA]

Your best bet for accurate info is call the lender and ask them.
35+ yrs ago I called my lender, they sent me to a local bank with the buyer. Buyer paid it off, bank got me the letter of release in less than an hour, buyer paid me the balance and it was a done deal.

 

[plh]

This ^^^^^.... unless you are underwater and unable to pay the difference.

 

[jadmt]

I have sold vehicles with liens. Make sure you can get a lien release as soon as it is paid off and let the buyer be aware there is a lien. I have also bought vehicles with liens I just made sure that the seller had the ability to pay the lien off and get a lien release without delay. If a person is upside down then I personally walk.

 

[Photobug]

If you had only bought a year ago you would normally be underwater(have to contribute money above what you can sell it for). However, everything is going at a premium so you may do okay on the sale.

 

[Mtn Mike]

I bought my camper from someone who had a loan on it. There was a bit of paperwork but it was no big deal. If you're selling to someone who is also financing it, there will be more paperwork on top of that. The good news is the loan departments at banks are very familiar with what is required for any situation. Start by asking them. If you're underwater on the loan you'll either need to pay off the difference in cash or get the bank to transfer the balance to a line of credit. I've been-there-done-that with a car. Not fun but the pain is temporary.