Repo Auctions for Used RVs
Repo Auctions! What are they? Where can I find them? Can I save money buying an RV at a Repo Auction?
In this repo auctions for used RVs article we will do our best to provide some answers to some of these questions.
First what is an RV Repo Auction? It is a great place to pick up the used RV at a significant discount. They are repossessed property when people fail to pay the monthly payments the RVs the financial institutions take them back and try to sell them quickly to recover some of their losses. This is done at public auctions by banks and companies that hold the notes on the repossessed TVs.
You can find all kinds of auctions going on. Some are open the public yet others are not. Why you ask? Some of the auctions are provided only to dealers and wholesalers.
How Much Can You Save on a Repo RV?
You can save a lot if you’re prepared, being prepared means having the finances to pay on the spot. You must do your home-work on finding out the true value to really know if there is a savings. Remember that all RV dealers with mark up a used RV 35 to 45% above the wholesale price. At the auctions RVs are sold at the wholesale prices. So you can see that the savings can be substantial.
Over all the used RV market in most cases will be better than the new RV market. With a new RV you always have to work out all the bugs and sometimes this means breakdowns on the road. In most used RV that have been used the bugs will be fixed already by the previous owner. It also help to know a little about how to check out the RV and all its option to know the condition. Remember that wholesale market will most likely not provide any warrantees or payment options like a dealer might provide.