Note that the benefit of using this option is that you can finance the RV through the bank directly, and often with low or 0% interest rates. On the other hand, the downside is that lenders typically don’t spend the money to clean or fix up repossessed vehicles before selling. If you’re interested in a repo RV sold directly from a lender, ask how the vehicle was repossessed. An RV turned in voluntarily is typically in much better shape than one that had to be seized from an uncooperative owner. [2] X Research source
Note that the advantage of buying from a reseller at auction is that they fix up the vehicles well, and are more interested in moving a high volume of inventory than marking up the starting price. Just beware of those that charge a “viewing cost” or any other unnecessary upfront charges. [3] X Research source Take note that it can be difficult to find quality RVs in a very large inventory of vehicles in all different conditions. Stay away from any that don’t have a title with them or the reseller claims the title is “in transit,” as it can be nearly impossible for you to claim ownership without one. [4] X Research source
Consider the advantages of buying repo RVs from a dealer. Dealers purchase these RVs at auction and will then do a good job of cleaning them up, replacing some items, and even doing minor repairs, so the RVs are in better shape when sold. Know that the downside is that dealers will hike up the price on the repo RVs that they’ve fixed up. Unless you can spot a problem and are a savvy negotiator, you’ll end up paying about the same price as any other used RV. [6] X Research source
Consult the NADA Guide for the RV model you’re interested in to find out the low value for the specific make and model. Make sure a seller isn’t asking a rate that’s higher than its true value, and that you’re prepared to bid no more than it’s really worth. [7] X Research source Consider that you want to pay less for a repo RV than you would if buying a regular used RV from a dealer or a private seller, especially if you don’t have a lot of information about the vehicle. Considering all the unknowns about the previous owner, the risk to you warrants a significant price reduction.
Look for sellers that provide photos, vehicle histories, VIN numbers, and certified titles. The more information provided upfront the better, as it usually means the RV is in better shape, you can do better research, and you are closer to getting it road-ready. [8] X Research source If there are known repairs that need to be made on an RV, get a quote from an auto repair shop for the estimated amount it would cost to fix them, and factor that into your budget and considerations.
Bring along an experienced mechanic or an RV expert to your inspection if you can. Get the fullest assessment possible about the car’s conditions and possible problems so you know exactly what you’re bidding on or buying. If you are buying a repo RV from another state and can’t inspect it in person, hire an independent inspection service or trusted mechanic to look at the RV for you. [9] X Research source
Pay attention to the starting bid given by the seller as well, and start your bidding at or just above this price. If you bid online, you may be able to set a maximum bid and enable absent bidding, allowing the system to bid for you up to your max amount. [10] X Research source
Some resellers will require that you meet with a broker to ensure that you understand the terms of sale or the auction process before you can make a bid or offer. [11] X Research source Know that in general, you are bound to the sale of a repo RV once you place a bid on it, and the sale is “as is. ” This means that any issue or problem you find after the sale cannot be disputed, even if it wasn’t documented by the seller. The sale is final, and without warranty. [12] X Research source
Re-title the vehicle in your name, get it insured, registered, and any other repairs or replacements done in order to make it street legal. Check with your state or county if there are any additional steps you need to take for an RV in particular. If you bid on an RV from a bank’s repo list, you may need to wait to find out if your bid was accepted after they compare with other offers. Only then can you perform an inspection of the unit before you sign the final paperwork, make payment, and take the RV home. [13] X Research source
