Unfortunately, as the economy stagnates, more and more repossessions are taking place each and every day. This is occurring with homes, cars, motorcycles, and motorhomes. If you are in the market for an RV, now is one of the best times to grab a great deal.
Why Buy a Repossessed Motorhome?
Most repossessions happen within the first few months after purchase. This means that when you can find one of these units for sale, it may be in nearly new condition. It also stands to reason that if the payment could not be made, there probably was not a lot of miles put on it either.
Skip the Middleman
When you buy from an RV dealer who specializes in repossessed models, you are probably paying too much. There is usually a 30-40% markup in the price. And the dealer some dealers may be very good at hiding problems. While you may think you have found a terrific deal, it could cost you hundreds of dollars in repair bills once you get it home. There is a better way.
Government Auctions
You have probably heard whispers about government auctions, but you may not know how to find one near you. The truth of the matter is there are thousands of these auctions across the country every year. Local, state, and federal agencies sell many RV’s at auction. These may be repossessions, seizures, or even surplus. The condition of these vehicles can vary from simply salvage to nearly new.
You can find listings for government auctions on many websites. Many are categorized according to their location. Most of these websites will charge a nominal fee for a lifetime membership, but the benefits are worth it. You may find other vehicles or items that you would like to bid on as well. Check out one of these websites and see when the next repossessed motorhome auction is near you!