Frequently Asked Questions about Buying RV Bank Repos.

We have assembled a list of the most commonly asked questions regarding
buying a new or pre-owned bank repossessed RV. If you have questions that
are not answered here, feel free to give us a call at 801-936-1200 or toll
free at 800-327-6910.

How did the bank end up with these units?
The banks ended up with these repossessed RV's because individual or dealers defaulted on their loans.

Why are these RV's less expensive than the RV's in the dealer's inventory?
When any dealer stocks RV's for sale he incurs a variety of expenses that are added to the RV's original cost such as interest, storage, insurance, prep, cleaning, etc. By buying a repossessed RV direct from the lender you save yourself these overhead expenses. In addition, often the prior owner has paid down the amount owed on the RV so the lender balance is much less than the RV's original cost.

How long will the current list of repossessed RV's be offered for sale?
Many state laws require that when an RV is repossessed, the RV owner is given a "curing period" during which they have the chance to pay the balance that is past due and reclaim the RV. Though repossessed RV's are rarely reclaimed, the lender is legally obligated to hold the RV to the end of the curing period before they sell it. Curing periods vary by state, but will
generally average about 30 days.

At the end of the curing period the RV will be sold at an online "dealer only" bidding process. Our agreement with the banks will permit any hosting dealer to sell any RV listed for the amount the bank anticipates they will sell the RV for in the online bidding.

How long will this market situation exist?
There have always been and always will be repossessed RV's. However, because of the current economic climate, lenders have been inundated with record levels of repossessions. As a result, they have had to develop new channels to remarket them. Currently, there is a plentiful supply of repossessed RV's at deeply discounted prices. However, as the economy improves the supply will decrease and prices will return to normal.

Have these RV's been inspected?
Yes. Each RV is visually inspected by an RV Technician who completes a condition report for the lender. The technician then takes a series of pictures for the online dealer listing. When completed, the condition report and pictures are available for customer review upon request. Those RV's with a favorable condition report will include the Route 66 Certified Warranty.

What warranties will these RV's come with?
Factory warranties will vary by manufacturer. Typically new towable RV's will come with a 12 month comprehensive warranty and a 24 month warranty on appliances and may also include longer structural and roof warranties.

New motorhomes will come with warranties on the chassis from the chassis manufacturer and coverage from the coach manufacturer. Generally, gas powered motorhomes have a 36 month/ 36,000 mile comprehensive warranty with a power train warranty that may extend beyond that. Diesel models will have longer chassis warranties. Coach warranties typically run 12 to 24 months. If the RV is used, generally the remaining warranties will transfer to the next owner.

In addition, most newer towable and motorized RV's will be eligible for a comprehensive extension of both the coach and chassis warranties with coverage similar to the original factory warranties. These extended warranties can prolong your warranty up to 84 months and up to 100,000 miles. If you have questions about the warranties that come with a particular RV, call an Access RV Sales Rep. at 801-936-1200.

Where can these RV's be seen?
Repossessed RV's are held at a secured bank holding facility until they are sold. For that reason, most of these RV's will not be available to inspect personally, though some will be at a location where they can be seen locally. For this reason, pictures are take ad condition reports completed so potential buyers can buy with confidence.

Can I make an offer on the RV that is lower than the "Buy it Now" price?
Yes, you can submit a bid for less than the lender minimum. The lender reserves the right to accept or reject your bid.

How soon can I take delivery?
All the RV's are available for delivery as soon as the legal notification period (curing period) has been met.

How can they be financed?
These units can be financed through any lender. Should you need assistance with financing, Access RV has over 30 different lenders we can arrange financing through. We would be happy to get you pre-approved for financing.

What about freight costs?
RV buyer's can take delivery of the RV from it's current holding facility. Should the buyer choose to have the RV transported to their location, they would be responsible for any transportation costs. Access RV has a wide range of transportation options at competitive rates that we can arrange for you.

Why did the lenders choose to remarket these RV's through the Route 66 Dealer Network?
The national lenders needed an organization with a nationwide reach who could inspect and prepare these RV's for resale. Route 66 is the largest network of RV dealers in North America and was best able to meet the lenders needs.