Let’s have some straight-talk about RV repossession deals. With the current state of the economy and people’s perception of the situation, there is (understandably) a lot of interest in repossessed (“repo”) RV deals.
Terry Frazer’s RV Center wants you to know the facts. When a dealer advertises repo units at 30%, 40% and even 50% off, you should first remember that every pre-used RV is priced considerably below the new model. The principle of depreciation obviously applies to everything- RVs included. The percentage of savings on a pre-used unit should primarily depend on how old the unit is; 1...4…10 years old… etc.
Next, you should know that any dealer advertising a percentage discount on repo units bases that percentage on the list price. Now let’s be honest about it- nobody pays list price anyway, right? Remember that too!
Most luxury models come standard with 2 A/C units, generator, awning, jacks, etc. This is no surprise for the careful bargain hunter. We at Terry Frazer’s RV Center calculate the base retail price with the assistance of the most recent NADA book (and the NADA book also shows the base WHOLESALE value for the vehicle too). NADA is widely accepted as a fair and impartial guide to pre-used vehicle values. We willingly share NADA values openly with our customers. Why? Because- after all- our repo units at Terry Frazer's are priced substantially below NADA resale value!
We at Terry Frazer’s have recently observed a competitor which touts their repo deals with impressive-sounding percentage discounts. Their website lists the repo units with model, year and price. On September 1st, 2009 we researched their repo “deals” using our current NADA guide and found some interesting facts.
A COMPETITOR'S REPO "DEALS":
COMPETITOR'S UNIT
|
COMPETITOR'S PRICE
|
ACTUAL NADA RETAIL
|
PERCENTAGE OVER BOOK
|
|
2006 Four Winds
(Mod. 32S)
|
$74,995
|
$59,110
|
21% Over Book!
|
|
2005 Monaco Diplomat
(Mod. 40PRQ)
|
$139,995
|
$119,900
|
14% Over Book!
|
|
2004 Georgetown
(Mod. 359TS)
|
$59,995
|
$40,810
|
32% Over Book!
|
|
2003 Bounder
(Mod. 35E)
|
$64,995
|
$44,810
|
31% Over Book!
|
* Retail Values per September 2009 N.A.D.A. Recreational Vehicle Appraisal Guide
As you can clearly see, OUR COMPETITOR’S REPO UNITS ARE PRICED FAR ABOVE CURRENT RETAIL VALUE! Based on the above example, YOU COULD PAY AN AVERAGE OF 125% OF BOOK VALUE AT THE COMPETITION! That’s as crazy as paying full list price for a new unit!
* * *
In conclusion you should be aware of the facts and pay careful attention to the current retail value of every repo unit. We at Terry Frazer’s RV Center work with the repo banks to get you a fair current market price which is below the retail value- and many times below the NADA WHOLESALE value too. Don’t get shabanged! Bone up on the facts and get your “Best Deal – Nation Wide” at Terry Frazer’s RV Center.