Mistake 1 – not doing any research prior to attending a bank repo rv auction. The obvious disadvantage is that you will have a harder time recognizing a good deal when you see one. Different makes and models vary drastically in price, the more familiar you are with these the more likely you are to get a better deal. Now you can use your phone to look up NADA values and KBB value while you are at the auction. This may be a good idea.
Mistake 2 – Not fully inspect the RV or assuming they are all in the same condition can also be a big mistake you will want to avoid. You want to avoid Rvs that have pet oders or excessive sings of wear. One convenient way to know whether or not the RV has been lived in for an extended amount of time is to check the hours of use on the generator. The last thing you want is to own an rv you we never be able to sell.
Mistake 3 – Not setting a bid amount before the auction star. It is import to know the highest amount you are willing to bid for any rv after subtracting out repair and you contingency costs. Often when bidding at an RV auction, it is very easy to irrationally over bid on an rv. Although you temporarily feel glad you won the auction, you will hate having paid to much.
Now that you know what mistakes not to avoid you are likely to do much better on you next repo rv auction.