You can stop looking aimlessly at RV classifieds, dealer special’s, and Craiglist, because this is the perfect time to find a motorhome at an auction. Motorhome auctions typically occur on a regular basis all around the country and are a great place to find a great deal on the purchase of your next used RV or motorhome.
For the last two years, foreclosures and unemployment have been steadily increasing and so have RV repos in most states. Repod inventory out strips demand. You can benefit from buying a motorhome at an RV auction for a great price.
Often, these lender repo motorhomes sold at auction are typically cheap, sold for 50 to 80% below their suggested retail prices. Banks are anxious to avoid the cost of storing and maintaining costs. The nice part about repo-ed motorhomes is that they generally are in good condition. (Try to avoid ones that aren’t or ones that have been lived in.)
Most repo motorhomes auctions occur on a repetitive basis. The key is to get your foot in the door by going to your first auction. In most states anyone can bid at a live auction. You may want to go to one or two auctions before you buy anything so you can determine how things works. Some auctions are silent, some are live. Try to inspect the unit before bidding whenever it is possible.
One way to find local auctions is to search your local RV or Motorhome classifieds for advertised RV auctions. It is also a good idea to go to the source and find out who is financing the RVs by checking with your local banks and credit unions.
A third option is to get to know people who regularly bid at these auctions. They may also be able to help you find what you are looking for.
Before bidding find out if you will need to pay in full at the auction or if you will need to put down a deposit. Remember auctions are always sold in ‘as-is’ condition but if your state has a 3-day lemon law, you may be able to return it if you find any major problems. Also find out if there are any transferable warranties on newer coaches.
Before bidding at a motorhome auction, it is important to find out the approximate value. Use the KBB or NADA guide to help you if you are not sure where to start. The most important thing at a live auction is to not become too emotional when bidding. Be careful not to go over you established ceiling bid for the motorhome.