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Old 12-29-2019, 07:40 AM   #1
Narnia
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What about repossessed units?

I wonder about bank repo units...should I even consider those? Or bypass them altogether? I guess, once again, it all boils down to case by case basis and possibly hiring an inspector in this situation.
 
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Old 12-29-2019, 07:46 AM   #2
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Like cars, boats, any repossessed product, buyer beware. Professional inspection is a must.
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Old 12-29-2019, 07:59 AM   #3
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I would think that if someone can’t afford to keep up with a payment they are not performing maintenance and upkeep. Just my opinion. Not to mention if the owner is in the cusp of loosing the rig they may not have that pride of ownership.
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Old 12-29-2019, 08:27 AM   #4
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Originally Posted by PNW Fireguy View Post
I would think that if someone can’t afford to keep up with a payment they are not performing maintenance and upkeep. Just my opinion. Not to mention if the owner is in the cusp of loosing the rig they may not have that pride of ownership.
I wondered about those things...
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Old 12-29-2019, 08:33 AM   #5
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There are so many reasons a unit could be repossessed there is no real answer as to whether to pass it up. Sudden illness, sudden unforeseen financial problems, buying more than the person could afford and finding no way out but let it go back, or simply deciding they did not want it and let it go back.


Any of those could be a unit to walk away from. Any of those could be a steal. A thorough inspection done by yourself or with the help of a qualified inspector would determine whether to consider it or not.
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Old 12-29-2019, 08:36 AM   #6
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You can't broad brush any of the scenarios you have presented. You have to look at each unit individually. If you are not comfortable with your abilities than follow what others have said and find a competent inspector.
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Old 12-29-2019, 08:36 AM   #7
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Originally Posted by PNW Fireguy View Post
I would think that if someone can’t afford to keep up with a payment they are not performing maintenance and upkeep. Just my opinion. Not to mention if the owner is in the cusp of loosing the rig they may not have that pride of ownership.
Or it could be they maintained it better than you do yours, put it in storage and, fell on hard times. Laid off, medical conditions. Who knows. Then instead of doing what little maintenance there is while stored and, making payments they chose to put what money they had towards medical bills and family. They may even have been maintaining it with previously bought maintenance products.It only takes a few missed payments and the process gets started for repossession. Statements like yours irritate the hell out of me.

Like said before take the camper on a case by case basis and, have it inspected. You may just run into a beautifully maintained like new camper that’s in better shape than many of ours.
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Old 12-29-2019, 08:51 AM   #8
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I would not be afraid of a repo....IF....everything looked good and worked properly. There is not near the preventative maintenance required on a trailer as there is on a car or a motor home. It’s more about fixing all the items which have failed. Sure your going to have to grease the wheel bearings and check the suspension bushings after you buy it, but you should do that with any purchase anyway. Maybe the previous owner didn’t check the roof, but if it hasn’t developed any leaks then it really doesn’t matter. Just check it over very thoroughly as you would with any trailer. There are a lot of people who impulse buy and then realize that they don’t use it as much as they thought they would. When they try to sell it and discover how upside down they are on the loan, they just let the bank take it back. Doesn’t necessarily mean that they didn’t care for it while they had it.
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Old 12-29-2019, 08:56 AM   #9
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I really need to learn to type faster, 3 responses just in the time it took me to type mine! Perhaps I should practice brevity.
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Old 12-29-2019, 09:16 AM   #10
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Well for Narnia we have ruled out the following with blanket statements:
Older units, because you don't what has been done to them
Moldy units because of health reasons
full time units because Full timers just wear them out
Newer used ones because they do not make them like they used to
Now Repos because they may or may not have been maintained

Any group of used camper will have gems and rotten apples.


The key is a thorough inspection. Best done by a professional. One that you can trust.
No matter which type of used camper you get.
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Old 12-29-2019, 09:49 AM   #11
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Originally Posted by jeffba View Post
Well for Narnia we have ruled out the following with blanket statements:
Older units, because you don't what has been done to them
Moldy units because of health reasons
full time units because Full timers just wear them out
Newer used ones because they do not make them like they used to
Now Repos because they may or may not have been maintained

Any group of used camper will have gems and rotten apples.


The key is a thorough inspection. Best done by a professional. One that you can trust.
No matter which type of used camper you get.
LOL...that would leave me with nothing! :-)

I think that the only rule outs with blanket statements for us, would be "moldy units due to health concerns." And, I can't stand strong pet odors or cigarette odors. And of course, water-damage.

I am fine with any of the other categories.
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Old 12-29-2019, 10:26 AM   #12
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Like others have said, it's a case by case situation. Doesn't really matter WHY the camper is on the market. It's all about the CONDITION. A professional inspector is a good idea and while you might think that is too expensive, just wait till you don't use one and end up with a big repair bill. At the very least take a couple of RV experienced friends to look at the unit.


However you can rule out a few things on your own. Obvious water damage is top of the list to walk away from. Visible frame damage is another. Other than that it is more about is the price in line with what you will have to fix. New appliances and furniture are easy fixes almost anyone can do and if the price is right you end up with those items new. You just have to judge if the poor condition of those items is an indicator of other issues (IE: the unit was used full time and not well maintained for instance).


If your buying from a private seller (and I strongly recommend going that route) your going to run into two kinds of folks. First is the people that think their unit is worth a premium because they maintained it to perfection, have fond memories associated with it or still owe a note on it (they are underwater). Your not going to get a good deal from those folks. Your looking for the second kind of seller. The couple that are looking to sell their current unit and are in a hurry to do so and as such willing to take a loss if necessary. Don't feel guilty your not taking advantage of this type of seller but you are far more likely to get a good deal.
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Old 12-29-2019, 10:50 AM   #13
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It could be like a friend who bought a nice diesel pusher. He declined he didn’t won’t it. He couldn’t sell it so he just quit paying and said don’t worry they will come and get it. They did.
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