If you are looking at a chance to walk away with a steal of a deal, you may want to attend bank repo RV auctions and motorhome auctions. Some people say that a vehicle drops in value once it is driven off the lot. The people making this claim are the ones who are ripped off when they bought a used car from a dealer. The price of the car actually goes up not down when driven off the auction lot by the dealer. The dealers are very much aware of this. In some states dealers find ways to stop private buyers from joining the auction. They require them to have a dealer license before they can bid.
The Repo RVs and Motorhomes are usually available at regular auctions. Here are good reasons why you should buy a repo car at an auction.
It is a fact that most motorhomes and RV are very costly, the 40% built in margin makes it more expensive. These motorhomes and RV are not always available, they are seasonal, meaning, in those times the dealers do not earn. This is the reason there is a 40% margin in the price, so they can make up for the months they are not working. It is therefore advisable to buy at auctions to avoid large commissions and a lot of cash.
Turnover at inventory in auctions is 100%. You get the chance to see different RVs on sale every time there is an auction. The bidders to different auctions will be different too. You will get to meet different people and different cars every time you go to auction. It is then advisable to go to auctions as much as you could.
One of the greatest benefits one can get in an auction is you are not forced and obliged to buy the car by a persistent salesman. You are not persuaded to buy the overpriced cars they sell. In an auction, the market, which is composed of people present in the auction decide the value. These people expect some great deal so expect some affordable prices on cars. Also these people are interested in different types of cars in the auction. This makes it possible for you to get a great deal.
Another good thing about buying cars in auction is you have a control over your cash out. You will buy whatever you can afford and fits your budget. You don’t to think about the monthly installment.