RVs are great for long vacations or short weekend get-a-ways, traveling around the country or seeing things just minutes away. But new RVs are fairly expensive, especially when most people use their RV less than one month each year. Factor in the higher interest rate that comes with loans for “luxury items” like RVs and the price tag for a new RV gets pretty steep. Some monthly payments are the same as a mortgage for a house. A great way to enjoy a wonderful RV without the hefty price is to buy a repo instead.
Many RVs that are repossessed were owned by responsible people who recently fell on hard times or were faced with a sudden, unexpected and major additional expense. Often they kept their RV in good condition and were conscientious about its care. They may not have used it all that often either since most people only use their RVs seasonally. If they were facing additional money issues, they may have hardly used it at all. Many of these are in like-new condition. These same responsible owners usually opted for all the amenities too, so there are plenty of quality repossessed RVs with all the best features waiting to be snatched up at low prices at auction.
Much of the inventory at a used RV dealership were repossessed RVs that the dealers bought at bank auctions, detailed, fixed-up a little and then marked-up to sell. Why pay so much more for just a little cleaning and repair? Instead buy the same repossessed RV at the auction yourself and pay much less for the little things that will make it look like new again. Because new RVs depreciate so quickly, prices for used can be half the price of new. These repos are often sold for even less than that at bank auctions. Banks do not want to keep any of the RVs or pay for storage costs. They are no longer making any money on the loan and they want to get that negative leftover balance off the books as soon as possible, even if they cannot sell the RV for the total amount. They want them sold as quickly as possible, so they start the bidding low and a savvy bidder can get a great price on a quality repossessed RV.
Enjoy the many advantages of a repo RV by starting your search for one today.
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Source by Spencer Arnold