| The first step is to actually find the repo trailers, | | | | wars and over paying. Don't go back once you've |
| which you can do by getting in touch with a bank or | | | | decided. Stay committed to you maximum bid. There |
| similar lending institution. It's not always easy getting | | | | are other repo trailers out there-people who get |
| through to the correct person's desk, but your | | | | emotional at auction and start overbidding are the |
| persistence will pay off. Someone will be able to tell | | | | ones who lose. |
| you what they have available and whether anyone | | | | Be sure, if you're allowed, to make a full inspection of |
| form the general public is allowed to bid at the | | | | your bank repo trailer. Compute the costs of any |
| auction. Hopefully, more than one lender will be able | | | | repairs and deduct that total from your already |
| to help you find available bank repo trailers. On the | | | | decided maximum bid. But even if you are not |
| West Coast, American General Finance is bigger than | | | | allowed to inspect the trailer, you still ought to have |
| any other sub-prime lender. We always sent them | | | | a contingency figured into the equation. A good |
| our buyers who couldn't find another source of | | | | figure is between five and fifteen percent above the |
| financing. That, quite frankly, is one of the reasons | | | | cost of small repairs. If you're in a state with a lemon |
| sub-prime lenders are such a great source of bank | | | | law, you'll still be able to take the bank repo trailer |
| repo trailers. | | | | back as much as three days after the purchase if |
| Both silent and vocal auctions are common for selling | | | | you come upon a big problem. |
| repo trailers. Generally you'll be permitted to inspect | | | | Be sure you're aware of the repo trailer's value. |
| the trailer prior to the auction-at the very least you | | | | That's fundamental, and it's where you start when |
| can do a walk through. Once you purchase the repo | | | | trying to find a good deal on a bank repo trailer at |
| trailer, though, the sale is considered final. You | | | | auction. Know in advance the precise value of your |
| purchase the Trailer as-is. | | | | target trailer. Use NADA, or use the Kelley Blue Book. |
| A bank repo trailer is not like a bank repo home. It's | | | | Remember, if you're using NADA, that your price is |
| generally in great condition. Try to get the most for | | | | the private party price. You're generally aiming to get |
| every dollar. Bank auctions are terrific for finding | | | | the repo trailer at or under trade-in value. This price is |
| trailers with upgrades. Things like multiple slide outs, | | | | actually something of a guarded secret, but you can |
| internet access, satellites and generators will come a | | | | get a good general idea by calling dealerships and |
| lot cheaper. Get the most trailer you can for the | | | | letting them think they might be getting a trade in. |
| price. | | | | After talking to two or three, you'll have a solid idea |
| Have a focus before you go to make your bank | | | | of what's a good, low price that you can begin to |
| repo trailer purchase. That's key. If you know exactly | | | | work with. |
| what the maximum is that you're willing to spend | | | | That's all. Good luck finding a great bargain on your |
| before the auction begins, then you'll avoid bidding | | | | next bank repo trailer! |