famousperson
Pittsburgh, PA
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Those prices are staggering! On the one hand, wanting a bargain on an RV is perfectly reasonable. On the other, taking advantage of someone else's bad fortune is kind of creepy. I already have my RV, but if I was looking for one I would be in a moral quandary.
2006 Dodge Ram 3500 Laramie, CTD, auto, 4.10, limited-slip, 4X4, QC, LWB, DRW, Jake brake.
2005 Lance 1121
2003 Jeep Wrangler Rubicon
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Clay L
Sioux Falls, South Dakota
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Joined: 07/01/2002
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There is a dealer in Quartzite during the high season that sells only repos.
I wondered what sort of shape they would be in and went through a bunch of them. The condition ranged from superb to dismal with most of them being in pretty good shape.
Many had been repo'ed from people that had lost their jobs or got into other financial problems.
That was according to a sales guy, and I don't know how accurate the statement was.
Having worked for a car dealer in my youth I did see the repos there and almost all of them were in pretty bad shape, so maybe there is something to what the sales guy said.
I wonder if the folks buying RVs might be a little more responsible than the general run of the repo population?
Clay (WA5NMR), Lee,(Wife) Codi, Brandi (Shelties) and Damncat (damn cat)
Full Timing in a 2004 Winnebago Sightseer 35N, Workhorse chassis, Honda Accord toad
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Robert McNabb
Sunny San Diego
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Joined: 06/25/2003
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famousperson wrote:
Those prices are staggering! On the one hand, wanting a bargain on an RV is perfectly reasonable. On the other, taking advantage of someone else's bad fortune is kind of creepy. I already have my RV, but if I was looking for one I would be in a moral quandary.
"Someone else's bad fortune" is most often very poor judgement of wanting to live beyond one's means. Also keep in mind that the first thing that's discarded by folks (and businesses) without capital is always MAINTENANCE. So...trying to keep up with the Jones' and then being negligent about upkeep would hardly qualify for sympathy. There's also an explanation for those lenders "overpricing" the rig in order to minimize their loss...the balance on the loan is almost always much more than the retail value of the rig as the loan was structured on amortizing the payoff on a straight line, while depreciation in the early years is much steeper. Financing an RV usually means that the rig is worth far less than the balance due on the note. People with slender credit lines still jumped right into the RV scene without much advance planning.
Bob & Annie in sunny San Diego
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Cindi_R
Cedar Springs, MI
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We purchased our TT from a "Repo Lot" last spring and couldn't be happier with the TT!! It was a 2005 and in perfect condition. We made an offer below what it was worth and the bank accepted it.
2005 Keystone Cougar 243RKS
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tallyo
Fort Myers,Florida
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Joined: 06/12/2007
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I have spent a lifetime around "repo's"
99% of them are no good! Folks, when they know they are about to lose something they,no longer take care of it,and they take things out of them haphazardly.
Banks etc ,will sell them at the highest bid but that may or may not be a clear feeling for if you are getting a good deal because of condition etc.
You have to be very lucky to get a good repo.............
Tallyo
2007 Winnebago Adventurer
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mike4947
N. Syracuse, NY
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Another issue when buying "repo's" is having a clear title. There may be lean holders not listed on the title that have a actual valid claim on the vehicle. The new owner can become responsible for the debt. Several folks have only found out about a "second lean" or unregistered lean when going to register/get the title in their name for the vehicle.
This is more common at police auctions than bank auctions.
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I_rv2
Illinois
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Joined: 01/13/2008
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You know, I've heard of folks walking away from a financed RV when it turns out to be a lemon and let it be repo'ed by the bank.
I'd really like to have it checked out by a mechanic before I commit to buy a repo .... particularly one with an engine and transmission.
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Dennis M M
Geneva, IL
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Joined: 11/06/2004
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We bought our Mountain Aire from a repo broker Commonwealth Boat Brokers
The price was great and the unit was exactly as advertised. i had a mobile RV tech give it a once over, then I went and looked at it myself. Although it was almost two years old it appeared to have never been used and the price was half of MSRP.
After the purchase I took it to my local Newmar dealer for a once over and found out it still had a year left on the warranty! Have had it over a year with no problems.
Commonwealth was great to work with and the transaction went smooth with no problems.
'99 Volvo VNL610 - 425 HP Volvo; Super 10 Spd
'05 smart fortwo on Volvo
'05 Newmar Mountain Aire 35 BLKS
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Cheddarhead
Northern Wisconsin
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I would shy away from a repossessed unit unless I knew who owned it. My logic is that if someone is careless enough to let their finances get to the point where they lose their unit, what kind of maintenance have they performed on it?
Just a thought....
2006 Chevy 2500HD EC/SB 4x4 Duramax/Allison
05 Jayco "Jayflight" 285RLS
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madashby
TX, USA
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Joined: 08/09/2003
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mike4947, what about if a dealer has purchased it at an auction and has it for sale? He said it is still titled in PA and he/we are in TX. Thanks.
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