Category: RV’s

Motor Homes For Sale At Used Motor home Auctions

Motorhomes and RVs are the answer to anyone’s dream of venturing out into the open and exploring the great outdoors. What is best about a motorhome experience is that you don’t need to leave the comforts of your own home. You can still sleep in a comfortable bed and watch your favorite shows while you travel across the country.

Motor homes for sale may cost you a fortune but thanks to foreclosed RVs, your dream is now within reach. You can purchase a foreclosed motorhome for just a fraction of the cost of a brand new one. You won’t miss out on all the modern conveniences like a great home entertainment system, a hot and cold shower or a king sized bed.

Finding rv repos is easy. There are a lot of ways to check them out. You can find advertisements of bank repossessed vehicles in the local paper or directly through the bank. Classified ads in the local paper are great too in finding a used repo rv. Auctions that are found locally maybe the best place to check out the RV itself. Tour the RV interiors to check out the amenities you have been dreaming of. Talk to as many sellers and lenders as you can to get more information on the vehicle before the auction begins.

There are motorhome auctions online that you can visit to check out great deals in used RVs. The Internet is haven for repossessed vehicles up for auction. Sites for auctions require you to register and place a deposit first before you can actually bid. You may not be able to personally check out the motorhome but auction sites give great detailed information about the vehicle interior and exterior features. There might also be a chance to take a virtual tour to help you decide on your bid.

If your bids wins in any of these auction types mentioned, you need to personally claim your purchase and settle your mode of payment. Auctions usually entertain all types of payment methods. If all goes well, you could have the motorhome of your dreams before the day ends!

About RV Repos and RV Repossession

1.       Most repo RVs that are for sale are only a few years old.bank repo RVs are most of the time repossessed in the two to three year loan period and were bought new. We all know that new RVs are much more expensive than the old ones. The value depreciates a third as soon as you buy them and 20% more in two years. Because of this, selling it will be difficult and it won’t be enough to pay the outstanding loan amount, then it will be repossessed, just like all other repossessed vehicles.

Typically, RV repos are used a few times only. The use of it is seasoned. Some even use it for a total of one or two months worth of time in a year. Those who are facing repossession even use it less because of financial issues. This only means that they still look new because they were hardly used.

3.       Motor homes are considered great investments that is why owners take really good care of them.Some of them would rather not use it if they think it will damage it in the process.

4.       Repo RVs are always upgraded and have several features. Most of the time it is the more expensive repo RV that gets repossessed fast because the monthly payment of this high end luxury car could be really high with all the best amenities it has. The cheaper RVs are less likely to be repossessed due to non- payment compared to the more expensive RVs.

5.      Repossessed cars for sale as well as rv repos are sold cheaper than the market value at auction. Banks want to sell the RVs they repossess as quickly as possible to cover the remaining loan balance and other expenses. The banks will likely take the highest bid at auction because it would mean expenses on their part if they keep the RV. So if the starting bid doesn’t get higher, the RV will be sold at a bargain price.

6.       RV dealers sell repos with their other inventory. Dealers buy repos at auctions so they can be added to their inventory. They will earn a good profit because the RVs in auctions are sold at a low price.

7.       Visit an auction and buy your own repo RV. Some auctions give low prices only to dealers, though there are still some that are open to public. You can still bid on an RV at an auction which is in good condition and at low price too.