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Hi

Unfortunately this recession has hit us very hard. My husband has been forced to take a job that pays less than 2/3rd's his normal salary. Therefore we are having to scale right back which means getting rid of our beloved motorhome.

This isn't as easy as it sounds, as it has been for sale for a couple of months now and we've had no interest. We are able to pay the loan amount for the next 2-3 months but after that the loan company have said that if we miss just 2 payments they will repossess it. Obviously we don't want that to happen as they will sell it cheaply at auction and we will be left with the deficit to pay.

We currently have it for hire with a couple of companies to try to recoup some of the monthly payment.

Someone suggested to us that we try a part ownership i.e. see if we can get another 2 couples/families to come in with us. I'm not sure how this would work. Does anyone have any ideas or do any of you currently do this?

We would love to keep hold of our m/h but cannot afford the monthly repayments on it so are trying to look at other ways of keeping it.

Any suggestions/advice greatly appreciated.

Thanks

Kirsty
 

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Hi Kirsty,
It's sad when this happens and I'm sure you are not alone being in this predicament. All our hopes and aspirations can be dashed in a turn of fate.

You are going to have to bite the bullet as they say and sell for whatever you can get or trade down to a much cheaper rig and no payments.

Your van must be quite expensive and to keep making the payments is just going to keep you financially poor.

We had everything. Large RV in the states, new car on tow, garage to keep it in, land to park up on, RV in France, another new car.
But one day (Feb 19th. 04) we found out we had no income and no savings any more. All taken away from us and several years before any sign of pensions.

We sold the lot in two months of anguish and tears. We miss it all terribly but life goes on and with health you claw some back and start to enjoy a more economical way of leisure with no payments to make.

Good luck.

Ray.
 

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Hi KIrsty,

Sorry to hear of your problems, I am always looking to buy good vans for stock so why not bring 'Bertie' along for an apraisal.

You will need to get a settlement figure from your finance company which we can settle direct subject to the van being of enough value.

Peter
 
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