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I Want To Purchase An RV Made By A Manufacturer In Chapter 11 Bankruptcy
by Bev
(Calgary Alberta)
I would like to purchase an RV from a RV Dealer who is selling a make (Monaco) that has just filed Chapter 11 bankrupcy last week. Is this an unwise purchase? Are there issues with this purchase besides the loss of the manufacturer's warrantee?
Thanks
Bev
ANSWER Hi Bev, buying an RV from an RV Manufacturer that is currently in chapter 11 bankruptcy does have its risks. At this point, even though Monaco is still in business, it may not be honoring its warranty. It all depends on the terms of the Chapter 11 bankruptcy. I tried to contact Monaco Coach Corporation Headquarters by phone to confirm their current warranty status, but their business offices are only available Monday through Friday.
Before you go any further I would suggest you call Monaco Coach Corporation at (800)634-0855. If the 800 number does not work for Canada, you can call them directly at (541)686-8011. You need to ask them directly if they are still honoring their warranties. Do not ask the dealer for this information; you need to contact Monaco directly.
For the sake of answering your question, I am going to assume that they are no longer honoring their warranty. Here is what you need to know, in order to make a good buying decision on a new RV being sold without a new RV warranty.
1. You should ask for and receive a substantial discount on the purchase price of the RV. Remember you are in the driver’s seat during the negotiation; the dealer really wants to sell the RV. So bargain hard, and do not be afraid to walk away from the deal if you are not getting what you want.
Read My Wife's Negotiation Tips For Buying An RV to get some good information on how to negotiate.
2. All of the appliances such as TVs, Stoves, Heaters, Air Conditioners, etc. are still covered by warranty. The warranties are through the manufacturers of those appliances.
3. The house part of the RV, such as cabinets, tables, etc. will not be covered.
4. In Monaco's case the chassis will not be covered. Unlike most RV Manufacturers Monaco builds their own chassis through their Roadmaster Chassis Division.
5. In the future, you may have problems getting Monaco unique parts such as exterior doors, front and rear caps of the RV, etc. unless you can find the suppliers that supplied those parts. Some of these parts may have been manufactured internally by Monaco.
6. Look for an extended RV Warranty. An extended RV Warranty does not cover everything that a new RV Warranty does, but it does cover certain items that need to be covered to save on out of pocket expenses. Once you get the price for one of these warranties, use it as a negotiation tool to get the RV Price down.
7. Before you take the RV off of the RV Dealers lot perform a comprehensive walk-thru of the RV and insist that all problems be fixed before you actually take delivery of the RV. Depending on the dealer, once you take that RV off of the lot, you may be on your own. If there are problems with the RV that they cannot fix right away, but they promise you they will get them fixed, GET IT IN WRITING!
Take a look at the Used RV Inspection section of our website. Even though this section is designed to be used when inspecting a used RV, the guidelines and tips can also be used when inspecting a new RV. Here are the two sections to look at RV Inspection Section 1, Documentation, Exterior and Interior and RV Inspection Section 2, Engine Inspection and Test Drive.
None of this information is meant to scare you away from purchasing this RV. But, you need to make an informed decision on this major purchase. I hope that this has helped answer your question.
If any of our visitors would like to give you further tips or information, they can do so by clicking on add a comment link near the bottom of this page.
Good Luck and Happy RVing
RVing Al
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