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
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