If you’ve ever been interested in buying a repossessed RV, now is the time. The sudden turn in the economy has led to foreclosure on thousands of high-quality RVs. There’s an abundance of RV auctions taking place all across the country. Many people dream of owning an RV, and right now there isn’t a single reason to hesitate because the opportunity to purchase the perfect RV has never been better.
Like any savvy consumer, you’ll most likely silent auction basket have questions how to buy repossessed RVs. Repossessed RVs are similar to repossessed cars-they’ve been repo-ed by the lender after the owner has defaulted on payments. When this occurs, the RV goes to a live or silent auction. But like you would with any great deal, you’ll need to know where to find the auction RVs. Repossessed RV auctions can be found by asking a local RV dealer or looking online or in the newspaper. Most of the time at these auctions, you will be given the opportunity to check out the repossessed RVs and inquire about their features. Another added benefit of buying a repo is that you don’t have to pay much extra for the added features. And one notable thing that sets repossessed RVs apart from repossessed cars is that they don’t lose their value as dramatically.
The most important thing to do when you’re bidding on repossessed RVs is make yourself as knowledgeable as possible so that you get exactly what you’re looking for and nothing less. You’ll want to research the market value of new RVs, so that when you’re making your selection. We recommend using the Kelley blue book and the Nada value guides for determining the value. And you’ll also want to inspect both the interiors and exteriors, particularly for signs of water damage and unusual amounts of wear and tear.