Because RV repossession sales feature low prices on quality used RVs, it is simple to make money buying and reselling repo RVs. To see the most profit with the least amount of hassle focus on paying less since the cheaper you buy the RV for the more money you are likely to make on it, looking in different places to find plenty of inventory, and choose the right RVs to purchase so they sell easily.
How to Pay Less
Bid on the less popular RVs at auction. Some of them will not attract as many bidders as others. Maybe there are too many similar ones and the slightly nicer ones are getting all the interest or bidders are waiting for later in the auction to make their purchase. Whatever the reason, as long as it is not condition, it is usually worth it to pay less with less competition. Always stick to the highest bid you set for any RV at any auction or sale. This way you will not be tempted to pay more than you should. Any extra you pay cuts into your profits. Catch the RVs before they actually get repossessed. This is a good way to save money on models that are likely to be popular at auction and go for more. Try to negotiate a short sale with the owner facing repossession and their lender. That is where you pay less for the RV than the amount outstanding on the loan.
Where to Look for Inventory
Large RV repossession sales or auctions will feature a wide variety. You are likely to find something that interests you at each one. Used RV dealers attend these auctions to augment their inventory. Owners facing repossession can be another good place to look. The more eager and/or desperate they are to sell, the lower they are willing to go. Ask neighbors and friends, look at classifieds and listings to find people who have been trying to sell their RV for awhile. Online RV websites that have auctions or provide information about them are an easy way to find RVs for sale. Be smart about online sales and try to stick to local ones where you can inspect the RV.
Which RVs to Buy
Look only at RVs that are in good condition. Yes, you can make money by getting distressed RVs for super cheap, fixing them up and selling them for more than you spent. However, it is much riskier doing it that way and you need the skills or contacts to redo the RVs inexpensively.Pay attention to the features of the motorhomes available for sale. You want to pick ones that will appeal to the most people and will sell quickly. Look for the latest and most popular features and upgrades. Consider the age, mileage and generator hours. Newer models usually sell faster and for more than older ones. Mileage and generator hours are also important in resale value because they give you an idea of how much it was used.
Related Topics and Articles
* How Save Money buying Repossessed RVs
* RV Repossessions: 5 Ways to Avoid Repossession Before You Face It
* How to Buy an RV Using an RV Short Sale