The vast majority of these RV’s are taken back from individual consumers who loose their job, or for some other reason can no longer pay for their RV. Some RV’s have also been returned to the lender due to an RV dealer or manufacturer going out of business.

The lender’s primary goal is to move the RV off of their balance sheet as quickly as possible so they can loan those funds out again. Since the lender cannot keep any money made above the prior owners payoff, the lender is not looking to make money on the transaction, only to recoup as much of their loan balance as possible. Often lenders will have taken out insurance that will cover the first 20-30% of the loss on a repossessed RV. As a result, lenders will aggressively price these RV’s so they will turn quickly. Though these RVs will generally be priced in line with current market values, you will often find them priced more competitively than other similar pre-owned RVs.

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 hosting RV dealer will be able to offer the RV for sale for a pre-arranged period of time set by the consigning lender. If the host dealer does not sell the RV in the agreed time frame, the lender can then choose to extend the consignment agreement with the host dealer, or wholesale the RV to another RV dealer or sell it at an auction. The time an RV is offered for sale is determined solely by the lender who owns it and will vary.

Each lender typically will have one person for each region making the final decision on what each specific RV can be sold for. That is why they have delegated the sales process to the host dealer. To expedite the sales process lenders generally price the RVs at or under market value initially, so it will sell at the price listed.

However lenders will consider offers, but they must be handled in the way outlined in the lenderhost dealer agreement so they can be processed in an expedited manner. That agreement requires that the host dealer complete an offer form and confirm the buyer has the funds to complete the sale, or is pre-approved for financing. The offer must also be secured with ernest money.

Have these RV's been inspected?
Yes. Each RV is visually inspected by an RV technician who completes an initial condition assessment for the lender. The technician then takes a series of pictures for the host dealer. When the RV is cleared for sale the lender will authorize the host dealer to complete the needed reconditioning and prepare the RV for sale.

The sales process is generally the same on these RVs with the following exceptions;

-What if more than one buyer wants to buy the same RV?

The first buyer completing a qualified purchase agreement will be sold the RV.

The lender will pay for an initial assessment on the RV when they first receive it. However, the lender will not spend money on reconditioning the RV until it is past the period when the former owner can reclaim it.

What warranties will these RV's come with?
Most newer towables and motorized RV's may have remaining factory warranties on the coach or chassis. Generally remaining factory warranties will transfer to the next RV owner.

Most pre-owned RV’s on this program will qualify as Route 66 Certified pre-owned RV’s and will come with a free 12 month warranty on most towables and up to 36 months/ to 40,000 mile free warranties on most motorhomes. They will also be eligible for a comprehensive extension of both the coach and chassis warranties. If you have questions about the warranties that come with a particular RV, call the host dealer (Access RV 801-936-1200 or toll free at 800-327-6910)

The RV’s are generally held at a secured holding facility until the reclaim period for the prior owner has past. The host dealer will be able to arrange for you to see the RV in person.

How can they be financed?
Should you need assistance with financing see the host dealer. (Access RV has over 26 different lenders we can arrange financing through. We would be happy to get you pre-approved for financing.)

-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 and the scheduled reconditioning is completed. The host dealer will be able to coordinate a delivery time that meets your needs.

-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 seen record levels of repossessed Rvs. As a result, lenders have had to develop new channels to remarket their repossessions. Currently, there is a plentiful supply of repossessed RV's at very competitve prices. However, as the economy improves the supply will decrease.

What about freight costs?
RV buyers can work out where they take delivery of their RV with the host dealer. Should the RV be purchased from outside the host dealers area, the host dealer can arrange for the RV buyer to take delivery of the RV from it's current holding facility, or have it transported to the buyer. . Should the RV buyer choose to have the RV transported to their location, they would be responsible for any transportation costs. Route 66 RV Network dealers has access to competitive nationwide shipping rates from transporters across the U.S.