| Today's economic times are a bit uncertain and the | | | | working with local banks and credit unions that lend |
| number of trailer repos and foreclosures are | | | | on trailers. Once you make friends with the local rv |
| increasing. Most people recognize that this is a great | | | | dealer finance department, they will be happy to tell |
| time to be a buyer. Buying a trailer repo can be a | | | | you which local institution lend money on trailers. |
| great way to save money. | | | | How to buy trailer repos The first step to buying a |
| As we all know, new trailers are not always a great | | | | repo trailer at an auction is to know in advance the |
| deal. Typical mark ups on RVs and trailers are | | | | value of the unit you are bidding on. You can use |
| between 30% and 60%, with the average mark up | | | | value guides such as the NADA and Kelley blue book |
| being around 40%. If you buy a new trailer, you will | | | | to help you approximate value. (You may also want |
| lose as mush as 30% of its value in the first year. | | | | to go to a few trailer auctions before actually buying |
| For this reason we recommend buying used and | | | | to learn what things are selling for and more about |
| trying to avoid buying at dealerships when it is | | | | how repo trailers are sold.) The worse thing to do at |
| possible. 9 times out of 10, it is a better deal to buy | | | | a trailer auction is to bid to much. This is why if is |
| trailers private party or as a bank trailer repo. | | | | important to be focused and set in advance a ceiling |
| Finding a Repo Trailer There are several ways to find | | | | bid for the maximum amount are willing to bid you |
| good repo trailers at auction. The 1st step is to find | | | | the bank repo trailer. Also don't get emotional about |
| out where and when these trailer auctions take place. | | | | any trailer as this can also cause you to overbid. |
| Talk to as many people in your local RV industry that | | | | Before bidding on a used repo trailer, make sure |
| are in the business of buying and selling trailers. | | | | inspect the unit. Our site listed below has more info |
| (Some will be helpful and some won't.) There is a | | | | on trailer inspection. Anything repairs that you will |
| good chance savvy buyers and dealerships know | | | | have to make will need to be deducted from max |
| where and when regular trailer auctions take place. | | | | price you would otherwise pay. In some cases, it is |
| Another idea is to contact your local lender (on your | | | | not always possible to inspect the trailer before you |
| trailer) and ask them if they have any repo trailers | | | | buy it. If so, factor in a contingency, usually 10-15% |
| they will soon be selling. Most big banks are harder to | | | | for possible repairs. Make sure that the auction allows |
| work with, most will not want to admit, they have | | | | you time to inspect the trailer after auction before |
| trailers in foreclosure. You may have as easier time | | | | you transfer funds to then. |