MCMAHON'S RV Avoid Trade-in Tragedy Parker Arizona
On March 12, 2014 I finalized the purchase of a 2013 Brookstone fifth wheel from McMahon RV in Parker, AZ. I thought I had done sufficient checking, but I was wrong. The company has a history of failing to pay off trades. If only I had known this a month ago!
I traded in a 2004 Laredo with an owing balance of $13,400. My wife fielded a call today from the credit union where our Laredo was financed. The trade was not paid off. It was sold to a wholesaler in an undisclosed Utah location. Unless I go to court to try and force McMahon to honor the deal, I am on the hook for the Laredo.
The representative at McMahon’s we talked to advised us to keep paying on the Laredo we no longer possess as the company has filed for bankruptcy and there was little hope of collecting from them. Of course, I don’t believe the bankruptcy angle, but it will take consulting with a lawyer to find out.
Beware, they are not out of business yet and I suspect that some credit unions in California are working hand in hand with them as Alliant Credit Union was unconcerned by the news.