Posted 2012-07-17 12:26 PM (#145644 - in reply to #145506) Subject: RE: horse trailer repo auctions
Location: Zionsville, Indiana
I think you got no answer because no one knew of an auction that dealt specifically with repossessed horse trailers. In this area (midwest) repossessed horse trailers show up at auto auctions, consigned by financial institutions and banks. You must have a dealer's license to buy at these auctions. The banks often have such a high reserve on them that they sit at the auctions for a while. We are now experiencing the fallout from those trailer loans 8 or 10 years ago that had terms of 15 to 25 years. When the trailer is repossessed, the balance due is more than the trailer is worth.
Manufacturers who are saddled with trailers repossessed when dealer floor plans fail usually try to get these trailers, which are new but with a little age, on an operating dealer's lot in the hope of moving them.
Posted 2012-07-17 2:53 PM (#145649 - in reply to #145506) Subject: RE: horse trailer repo auctions
Location: Valentine, NE
Unfortunately, my company has ended repoing a few. We generally take them back to the orginal dealer and they sell them for us. Or list them on a "web site" auction company. Don't know of any trailer repo auctions.
Posted 2012-07-17 2:59 PM (#145650 - in reply to #145506) Subject: RE: horse trailer repo auctions
Location: DeLad, Fl.
I am a used car dealer in Fl. & am having a hard time finding an auction that sells them & the Horse trailer dealers that claim to be selling Repos are asking high prices & when I offer my dealer license & re-sale cert I am pritty much told that I have to pay the asking price. When I call the manifactures thay tell me to call their dealers...so I seem to just be going in circles....
Posted 2012-07-17 8:49 PM (#145660 - in reply to #145506) Subject: RE: horse trailer repo auctions
What about contacting the finance companies themselves, since they are actually the ones doing the repos? I would try contacting all the larger companies who offer trailer financing and see what they have to say.
Posted 2012-07-18 1:11 PM (#145677 - in reply to #145506) Subject: RE: horse trailer repo auctions
I think you'll find there just aren't that many horse trailer repos out there. Most of what you've seen advertised as repos the past few years were actually new trailers, that the floorplan company picked up when a dealer closed. So they are repos, just not in the traditional sense.
Retail finance repos generally run through the regular auctions. Last one I saw had 150+ RVs, 200 boats, 250 cars, but only 2 horse trailers.
There were some that went through a Ritchie Bros auction in TN last summer. As 5 year old trailers, some of them brought more that day than brand new trailers exactly like them 50 miles away at a dealership. Go figure....
Posted 2012-07-18 1:45 PM (#145679 - in reply to #145506) Subject: RE: horse trailer repo auctions
side note: I've heard about some dealers buying damaged trailers from auctions/insurance companies, fixing them up and then not telling the next buyers exactly the "car fax" on them. Some of these dealers have been sued and are no longer in business. I think you take a huge risk, as a dealer, to try to pass off "green tagged/recondition titles" to customers. A personal use trailer may be fine, but there's a reason they are sold at auction as the manufacturers would charge too much to repair them back to SAFE condition.
Posted 2012-07-18 2:06 PM (#145680 - in reply to #145506) Subject: RE: horse trailer repo auctions
Location: DeLad, Fl.
thanks everyone, I was looking for myself. I have decided to keep my Exiss & convert it. I love the trailer & can't replace it. People have offered me 1/2 what it's worth in scrap. I don't get it...it's like new...if I was going to sell it that cheap I would just scrap it. It's in "like new" condition, got it new, have it waxed every year, keep it under cover, I just take good care of it, I was planning on keeping it forever. I just love it too much... I just wish it were a 4 horse. I guess I'll just put some $$$$$ into converting it into a weekender, I don't need a shower or potty...everywhere I go has showers & all that, just need electric, fridge., & cabanets. All that I can do at a fraction of the cost of a living quarters, was just wanting a little bigger. I have another trailer so if we need to move more then 3 we can always take 2 trucks & trailers.