QUOTE(jones66 @ Dec 29 2009, 03:59 PM)
My husband and I have our RV advertised on "RV Search.com". A company called Countrywide RV, based in Texas have approached us about setting us up with (at no cost to us!!!) a lease to buy option.
We would hand over our RV, the Lessee would be responsible for all costs etc...
However we would still "own and be responsible" for the loan.
I am trying to find out if this is a reputable company to deal with or if it is some sort of scam. I would be very interested if anyone on this forum has any comment to make.
The RV has been on RVsearch.com for about a year, and whilst we have had numerous views and some interest, it is still for sale.
We are interested in pursuing the countrywide RV offer, but are hesitant....
Don't know anything about the company in particular, but I would run away from any such arrangement. The reason for it is the customer does not have the ability to obtain a loan to purchase the vehicle. Occasionally, these type of arrangements work on real estate loans. the buyer/lessee may need to sell their current home to qualify, there may be some other situation that time may cure or maybe the borrower/lessee is unsure if they will remain in that area and wish to have added time to make such a decision. The difference between those situations is no one needs to have an RV, most everyone needs a home. Also, a stick-built home generally survives a rental situation with minimal damage which would not be the case with an RV. Also, you know where the stickbuilt home is at any given time, again not true with an RV. If you end up with a freak renting your home, you can get them out within a few months. If someone runs off with your RV, you may never find it. Insurance concerns are also very different with vehicles vs houses. The reason your RV is not selling is it is overpriced. If the price was right, it would have sold by now. Doesn't matter what any book says it should be worth or what you think it is worth, if the price was right, a buyer would have appeared in a year. IMO a lease to own contract would make your bad situation downright terrible. Sorry!