Why You Should Use a Reputable Broker to Sell Your Motorhome or Caravan Rather Than Expose Yourself to the Risks of 'sale or return'
The recent demise of St Andrews Motorhomes and the financial impact it has had on some of its customers raises a familiar issue for motorhome and caravan owners. It highlights the risks that come with selling your motorhome through a third party on a 'sale or return' basis.
There are currently numerous social media and news reports circulating about St Andrews Motorhomes, which was put into liquidation in June after 25 years in business.
According to the reports, clients had handed over motorhomes to the firm, for it to sell on their behalf. The sudden closure of the business left those who handed over their vehicles fearing they could be left out of pocket, although liquidators are trying to recover as much money as possible for them.
The Difference Between Brokerage and 'Sale or return'
'Sale or return' simply means leaving your motorhome or caravan at someone’s premises in the hope that they will sell it for you and pay you an agreed amount for it once the sale has completed. The motorhome owner is not in control of their vehicle or the money, which is where the risk arises.
Brokerage by Motorhome Depot also means that someone is selling your vehicle for you. However, the difference is that your motorhome or caravan remains in your possession. You hand over the vehicle and the keys only once you have cleared funds from the sale in your bank account. The buyer is also protected because their payment goes into a ring-fenced clients' account that is unique to Motorhome Depot and is covered by the Financial Services Compensation Scheme up to £85,000.
WARNING: Be sure to find out if your motorhome broker has an FSCS-protected clients' account before instructing them to sell your motorhome.
How Motorhome Depot Makes the Transaction Secure
As a seller with Motorhome Depot, your motorhome stays where it belongs - on your driveway! You retain possession of the motorhome, all of the documents and your keys. Only when you are satisfied that you have cleared funds in your bank account do you release the keys.
As a buyer with Motorhome Depot, we also make the transaction totally secure. Firstly, our systems and the working relationship we develop with our sellers mean that you can be 100% certain that all of the motorhomes we advertise are genuine. And when it comes time to pay for your new motorhome, your payment goes through our protected clients account which is covered by the FSCS scheme.
There is no easier, more secure way to buy or sell a motorhome than through Motorhome Depot.