How to Buy a Car and RV Repos before an Auction?

A lot of people argue if they can buy discounted RVs at an auction. They know that they can save 30 to 40% by buying an RV from an auction rather than buying it from a dealership or even from a private party seller. But there are actually ways to buy a repossessed RV before it goes to an auction. The easiest way to do this is to buy it directly from a bank. Bank owned RVs can sometimes be a better deal than the ones that you would find at a used RV auctions. The damage of trying to buy directly from a bank is that you often don’t have as much competition as you do at an auction. This means that you can sometimes pay a lot less for an RV when you buy it as a bank repo.

The disadvantage of buying a bank repo RV directly from the lender, is that it may take you a while to get your offer accepted. Sometimes, offers have to be approved by multiple levels. Even if one manager signs off on your offer, another one may not. You never know if you’re going to be able to buy the RV or not when you are trying to negotiate with the bank to sell you a bank repo. On the other hand, when you go to RV auctions, everything in their inventory is for sale. Most of the time, the lenders agree to the condition of the auction that everything will sell for the highest bid amount. For the bank, it is more risky because if they get less money than they had been offered in the past, they may have to accept the offer. If you can explain to the bank wide is less risky for them to sell you their RV before the auction, and are willing to put down a good amount of cash to buy, you may be surprised at how much money you can actually save on the next car or RV that you buy.