i bought a luxurious 36ft RV for about 28k and i need out of this loan the payments are becoming unbarable…your probably gonna ask why did i buy the rv in the first place?? well i was going to live in it and travel the world but with the bad econmy thats not possible plus i might loose my job!! what can i do to get out of this loan??? i dont want to reuin my credit..my credit is soo good i already had some dings that took me two years to fix and pay off i dont want to reuin my credit ..im so upset at myself for buying this rv…its been about year or so with it and i bought it when the prices for rvs were so good and the economy wasnt bad so now im just worried andi need out!!! what are my options?? 10points to best answer
the exact rv im selling is selling for less all over town I NEED ANOTHER OPTION TO GET OUT OF THIS LOAN i feel like crying 
YOU PEOPLE ARE REALLY WEIRD I DONT NEED A LOAN!!1 I NEED OUT OF A LOAN I DONT WANT TO REFINANCE I DONT WANT DO ANY OF THAT I WANT OUT OF THIS LOAN WHAT ARE MY OPTIONS TO GET OUT!!!!!!!! IM BROKE AS HELL SO DONT TRY TO SELL ME ON YOUR LOAN COMPANY
Call the lender and try to negotiate some different terms. That's what the TARP money and bailouts are supposed to be for. They don't want to reposses an RV, believe me. You might be surprised. Good luck.
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February 4, 2009 at 08:52 pm
The only option that you have is to find someone to buy your RV and then pay off the remaining amount.
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February 4, 2009 at 09:41 pm
Call the lender and try to negotiate some different terms. That's what the TARP money and bailouts are supposed to be for. They don't want to reposses an RV, believe me. You might be surprised. Good luck.
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February 4, 2009 at 10:08 pm
Hi,
You can return the vehicle to the finance company under a VT
Voluntary Termination.
First, you need to read your agreement, this is standard in most HP agreements. Usually this kicks in after you have paid 50%.
If you do return the car then, the finance co will send someone from an auction house to check your car, make sure it is clean and take a lot of pictures because, sometimes they will try to bill you for damage or wear.
Good Luck.
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http://www.go2.to -
February 4, 2009 at 10:19 pm
If you don't continue to pay the loan AND they report to the credit bureaus, it's going to affect your credit no matter what. You can't truly have it both ways.
However, your main concern is trying to make the best of a bad situation. One of the answerers above has the right idea. And it's an idea that Dave Ramsey gives quite often. Sell the vehicle/RV and make a deal with the lender about paying off any deficiency. Main thing is to call the lender and let them know what your situation is.
There is another option, too. Perhaps you can list the RV and lease it to someone or rent it out. At least if they are making payments to you for rent/lease, you might be able to handle the difference. Or if you bring someone credit worthy to the lender, they might be willing to let someone else take over the payments. (Not the easiest to do but still possible).
Good luck, but in any event, don't just quit making payments without making some effort to resolve your issue.
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February 4, 2009 at 10:25 pm
You may not like the answer, but you best way out is to sell it, coming up with whatever cash shortfall you need to pay off your loan.
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February 4, 2009 at 10:50 pm
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