Tag: rv repos

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.

RV Repos – Things I Love about RV Repo Auctions

There are so many reasons why people love repossessed RVs. As we all know, an RV is a good get-away vehicle, a one-way ticket to a great vacation. You can park it just about wherever and whenever you want. You can move from place to place without having to repack your clothes. Plus, you can bring your bed and your fridge along with you. RVs are commonly seen during the summertime, along with camper trailers, and many people want to own one because it can save you lots on your vacation expences.

The good thing about repossessed vehicles is that they are mostly in good condition. Not very often do you find repo RVs that have been involved in an accident. No damaged cars here. Mostly, they are in like new condition. You can find them, along with repossessed cars, at repo auctions or by calling an RV dealer. However, if you really want to get a great deal on an RV, contact a private owner who wants to sell their travel vehicle. Why? Because most owners who wants to ditch their RV are going to have them cleaned up and in good repair so that they will have a better chace of selling them. Therefore, when you decide to purchase directly from them, you not only get a great running RV, you also do not need to do the repairing and the cleaning.

Other reason why people love rv repos is that they often come at a down-to-earth price, mainly two-thirds or one-half of the market value. You can save a lot of cash plus you get a nice rv. Isn’t that wonderful? When you decide that you want to get in to the car auctions, the best advantage it could bring is that you can budget your money. That’s why one should set a maximum amount of your bid so that you will not caught up in the bidding excitement. If, in case, you loose a certain vehicle you like, do not fret. There are still other vehicles out there. You can get a much better RV at a much lower price.