1. Successfully bidding at an RV auction means going to the auction prepared. Be sure to have a general idea of RV values. You can look at used RV guides, check local listings of RVs for sale and ask a friendly dealer about trade-in values. Remember that repo RVs sold at auction often go for wholesale or less. You don’t want to overbid.
2. Be sure to inspect any RV you are interested in bidding on. Most RVs are auctioned “as-is,” so you need to check for major problems before you bid or you may end up with a lemon. Since many RV owners only use it a month or so each year, there will be plenty in great condition. You should be able to weed out the truly distressed ones by avoiding ones that have really worn upholstery, cabinets and appliances (probably lived-in for an extended period), water damage (really expensive to fix) and higher-than-expected generator hours (also a sign of being lived-in for more than normal).
3. Set a maximum bid for any RV you want to bid on. Use the general price and subtract the cost of any repairs to come up with your top amount. Bidding at RV repo auctions is exciting and can be emotional. Keep your ceiling bid in your mind and stick to it. You don’t want to overpay and once you bid, you can’t take it back. Remember that other RVs will be available.
4. When the RV you are interested in comes up for auction, let someone else start the bidding. You can see how many other people are interested. If there are a lot of bidders, it may go up in price too quickly. If there is little interest, you have an opportunity to get it for a lot less. Try to enter the auction a little later, but make sure that the auctioneer acknowledges your bid and then looks to you for further bids. Avoid getting into a bidding war with another bidder. This usually ends up leading to paying too much. Stop bidding and wait for another RV.
5. Be prepared to finalize your purchase. Have your financing worked out beforehand, so you will have money available. Find out before the auction whether the full amount will be needed right away or just a deposit, when the rest of the money is due, and what payment type is needed.
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