You probably know someone who has had something repossessed. Have you ever wondered what happens to the property that is repossessed? The RV repo dealers certainly know where to find these vehicles. However, you can buy a repossessed RV as well and you don’t have to go through a middleman to get one.
Why You Should Consider Purchasing a Repossessed RV
There are many reasons to consider purchasing a repossessed RV. Here are three of the best:
1. Many are in nearly new condition. Most repossessions happen within the first six months after the purchase. It makes sense that if someone cannot afford to make the payment on the RV, they probably have not been able to afford to travel either. You may find some of these RV’s have less than a thousand miles.
2. Some banks and financial institutions are only looking to recoup part of the money they are out. Storage costs are also a factor. This means you can really score a great deal with an RV repo.
3. If you are financing the vehicle yourself, you will probably pay a much lower monthly payment because the repo is considered used, even if it was only off the lot for a couple of months.
Where to Find These Units
The dealers purchase repossessed RV’s from a number of sources. However, the one the public is the least aware of is the government auction. Federal, local, and state agencies hold these auctions to get rid of surplus, seizures, and repossessions. The reason why these auctions are not swarmed by people is that they are not advertised very often. You have to have a source to know when and where the auctions are.
That’s where the internet comes in. There are websites that list all the government auctions throughout the country, including in your area. You’ll find just about anything going up for sale, including an RV repo. If you’re ready to find a great deal that many other people aren’t even aware of, try a government auction!