If you want a new RV but new RV prices seem high, it’s time to discover the value of repo RVs. You can get a slightly owned or used RV that is in the best condition possible, and at a super price. Now the question is, where does one find the perfect pre-owned RV?
Many people’s finances are under stress, and they have defaulted on their RV monthly payments. After all, a person’s house or car is often more important to them than the RV. The RV is likely to be the last thing on the list to get paid. It is a luxury purchase. The financial institution, bank or governing body finally claims back the vehicle.
These repo RVs are then sold at auctions, often at prices way below the normal book value.
Why are these RVs being sold at such cheap prices? The banks need to regain their losses, but are not aiming to make a profit. They would just like to recover their outstanding money and avoid the costs of having to store the vehicle for lengthy time periods. The prices at repo auctions will start as low as $ 100 to ensure that there are sufficient bidders and that the RV will be sold.
At an auction, bidders are entitled to inspect the RV. You may be surprised to find that many of the repo RVs are in excellent condition. Remember that for the majority of the time, an RV is unused, and maybe stored in a garage. If the owner has been unable to pay his installments, he has surely not had much money to go exploring in his RV. Even if the RV is a couple of years old, it may still be in immaculate condition. In certain states there is the lemon law which allows you to return the it within 3 days of the purchase.
The most difficult part about repo auctions is finding them. You can keep an eye on RV trades, press releases or local classified ads. To save time and find the best auctions for repo RVs, the most convenient way is to join a good website that will give you more than enough information.