We are considering creating a program that will help financially troubled trailer owners dispose of, or possibly retain their trailers at lower monthly payments.  It seems that we have been getting calls from customers lately that cannot make their payments any longer and we have been helping them in a variety of ways.  I am not sure  if we should create a program that can help the entire marketplace because this is a wide spread issue or is it just isolated to the few calls we have been getting.

I am looking for opinions.  Is this needed right now as a large scale program.  Please comment by responding to this post and thanks in advance for your feedback!

Sounds noble, solution seems doubtful though.  As a dealer, you could offer a buyback but the customer would have to lose a good amount of $$ in the deal (which is better than letting the bank take the trailer).  That would also require a pile of cash and most other dealerships/manufacturers are as cash needy as some of the customers.  In my opinion, most customers are just fine.  Yes, I know that there are more defaults...but as a percentage, I just don't think it is as widespread as many might think.  Consumers have slowed their buying rate, paid down some debt and saved more in recent months.  Psychologically, we feel poorer because home values, 401k's and such are in a short term funk.  My suggestion is to turn off the damn TV, quit watching the news and take your family and trailer on a vacation.  Also, if you are in serious trouble, be proactive and talk to your bank/finance company before you fall off the cliff.  Banks don't want to be in the horse trailer business and may be open to renegotiating to more friendly terms.  It is much harder to negotiate when you are several months past due.  Just one man's thoughts!!!

Good luck if you do decide to proceed with your program.  Also, I would like to know how you have helped other customers.  I would like to help also but I am not sure if there is a good way to do it.

Something else to consider, all you potential customers should do your best to research the dealership/manufacturer of your potential trailer.  There are many big and not so big names that are on the edge and may not be with us in the future.         

We have already perfected this process and have used several deals where customers have asked for assistance.  The customers did not have any additional cash outlays.  We are not going to reveal the process to the general public, manufacturers or other dealers, as we believe it is a competitive advantage.  I don't think there are many dealers right now asking trailer owners if they can help them with their economic problems. I can only believe trailer owners would find this a big plus for our dealership.

I agree that there are many dealers that are strapped for cash, but we are not one of them.  We saw this downturn coming in May of 2007, and have been reducing costs ever since.

I am not sure I agree with comment about the size of this problem but that is why I asked for opinions.  I don't have any exact data, but with many retail lenders exiting the business due to defaults, I can only assume that for companies that have been retail lending for years to exit, the problem has to be systemic.

This program does not target already defaulted trailer owners, it targets those which are about to default or know prior to getting behind in their payments, they will default soon.  I agree that once the trailer owner has defaulted, it is too late for anyone to help them.

I am not sure there are any publicly traded horse trailer manufacturers or dealers, so your suggestion to research their financial positions cannot really be done.  Even if they were publicly traded that data is obviously not 100% reliable.  The only way to gain information is by listening to rumor and innuendo.  Who starts the rumor?  Normally, disgruntled (ex)employees & competitors.  Why do they start the rumor?  To exert undue influence the customer.  Does that help the customer?  No, it only hurts them because if someone must compete with unethical lies they will also treat their customers unethically and lie to them. 

As for your program, you have a pretty good thing if it works. 

Good point on not being able to research financial status of manufacturers and dealers.  More times than not, there is some substance to rumors.  As a customer, just be aware that many manufacturers/dealers are going out of business.  It pays to ask questions and try to be as informed as possible.