"This Year Repo Auctions are Offering Buyers Better Options...
Aside from homes, this year bank repossessions have spiked over 50% relative to cars, boats, rv's, atv's, and motorcycles. A repo auction will typically be held in most cases by
a local or regional repossession company if they can make a quick buck and still manage to give the financing company their take. Most often banks and credit unions will simply transport the repo to a local auction house or in the case of bank repo boats or yachts a regional boat auctions company.
So what can you expect at these auctions?
A lot of folks even bargain shoppers tend to think that only junk or salvage type autos or boats end up at repo auctions. And in many cases that tends to be correct. Actually, there are a minority of boats, autos, suv's, atv's, motorcycles, etc. numbering
in the thousands that sell for 50-75% of the loan value...not book value, loan value. So the bottom line is if you're willing to spare the time and effort to peruse repo auctions you can buy about any asset that will leave your friends and neighbors wondering how you managed to pull such a deal off legally?
The savings in many cases are significant and worth the time and effort.
Locating these types of bargains is a matter of being exposed to enough repossessed assets so that eventually you get handed an absolute cream puff.
Top Auction Sources:
For Yachts, Boats, PWC's, RV's ATV's, Motorcycles, and marine related repos Boat Auctions Direct will serve you
a plate piled high and deep. Extremely thorough and relevant. The site simply aggregates, organizes, and dispenses seized Government and bank repos
relative to your state.
Cars, Trucks, Equipment, Autos, SUV's, Computers, Antiques are other assets that are let go through Auctions Pass resource database
as well. This auction aggregator site also serves up Gov't seized or bank repos but cover a broader spectrum of assets.
Both are legitimate tools for frugal buyers in 2011.
The old adage, "Time is money" certainly rings true when searching boat repo or car repo auctions. You can really spend alot of time spinning your wheels. I've certainly wasted more time than I care to admit sifting the search engines. In this case instead being a DIY it's just smarter and more efficient to have these sources delivered to you.