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Old 06-25-2019, 11:40 AM   #1
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The good, bad, ugly of paying off an rv loan

I'm probably selling my 2017 Forester 2401w rv. It's now partially financed with BofA. I'm thinking if I pay of the loan and have a clear title it may be easier to sell. Opinions?
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Old 06-25-2019, 11:46 AM   #2
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I've found it doesn't really make enough of a difference to make it a priority whether you trade it in or sell it yourself.
Paid off makes the paper work a little simpler and perhaps a little faster, but if you handle the transactions at your bank, they do it all for you anyway.
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Old 06-25-2019, 01:01 PM   #3
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Title in hand is always easier to sell no matter what you have!
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Old 06-25-2019, 01:20 PM   #4
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I can only give you my side of the story and that was I always had a clear title in hand when selling/trading.

It sure made the dealer trade in process easier as none of the loan had to figure into the negotiations.

If you have the means available, I would pay it off.
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Old 06-25-2019, 01:30 PM   #5
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Quote:
Originally Posted by rshellhammer View Post
I'm probably selling my 2017 Forester 2401w rv. It's now partially financed with BofA. I'm thinking if I pay of the loan and have a clear title it may be easier to sell. Opinions?
If you are selling privately, then yes, much easier to sell with title in hand. Private parties don't really want to deal with people that have a lien holder.
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Old 06-26-2019, 01:59 PM   #6
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If you are selling privately, then yes, much easier to sell with title in hand. Private parties don't really want to deal with people that have a lien holder.
X2 lien on a title eliminates some potential buyers.
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Old 06-26-2019, 03:43 PM   #7
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Besides the excellent points already made, why would you want to add more debt on top of the new RV loan if you are trading in.....second, paying off your old loan will increase your credit score and look favorable if you are looking for a new loan.

Of course, if you are dealing in cash, these comments don't really apply.
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Old 06-26-2019, 10:22 PM   #8
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Pay it off. Sometimes it takes the bank 2 weeks to get the title back to you and makes A LOT of buyers nervous. Sell it outright. May take a little while,but it's one less way the dealer can't stick it too you.
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Old 06-27-2019, 06:51 AM   #9
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One time I paid off a truck at a local credit union. The lady said...hold on and I will get your title for you. Key word: local
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