| It is a sad story, but everyday there are hundreds | | | | one by one. This offers a great opportunity to the |
| of motorcycle riders who default on their motorcycle | | | | buyers at the auction. |
| loan repayments leaving their bike to be sold at repo | | | | Is it safe to buy a motorcycle that has been seized |
| motorcycle auctions. A visit to a repo motorcycle | | | | for repossession? |
| auction is likely to present cycle purchasers with the | | | | Overall it is quite safe buying a repossessed bike, as |
| opportunity to procure a real bargain. | | | | they will usually be fairly new, certainly less than |
| All of the bikes at auction will have been repossessed | | | | three years old, and the paperwork will be in order, |
| due to the original purchaser failing to keep up with | | | | due to the fact the finance house will have checked |
| monthly repayments. Their loss is your gain, as the | | | | out everything before putting the cycle up for |
| finance houses sell off these bikes at a greatly | | | | auction. |
| reduced cost, in an attempt to recoup some of the | | | | Of course, there is still the possibility that the |
| money they originally loaned the owner. | | | | motorcycle will be in a bad state of mechanical repair, |
| Repo motorcycle auctions feature all types of bikes, | | | | and it is advised that potential purchasers seek the |
| from used powersports cycles to exotic ATV | | | | assistance of somebody with mechanical know how, |
| vehicles. All of which are presented for inspection | | | | before making a decision to bid on a particular |
| before the auction starts, sometimes several days | | | | motorcycle. |
| before hand. | | | | Almost every auction house will have all of the bikes |
| Why are bikes seized and repossessed? | | | | to be auctioned available for viewing and inspection |
| Bikes are seized and repossessed for three reasons. | | | | before the auction starts, spend this time checking |
| The most common reason for a bike to end up at a | | | | over the bikes that interest you. |
| repo motorcycle auction is because the original | | | | Most large motorcycle auctions allow the buyer to |
| owner, who financed the purchase of the cycle | | | | pay using a credit card, this is an excellent way of |
| through a bank, has failed to keep up with the | | | | ensuring your financial transaction is not only secure, |
| repayments. Once this happens, the used motorcycle | | | | but comes with built in protection, as most major |
| is then seized by a repossession company, and the | | | | credit card companies will pursue any dubious auction |
| bank will put it up for sale at a repo motorcycle | | | | house on behalf of the buyer if the trade is deemed |
| auction. | | | | to be unfair. |
| The second, much less common reason for a bike to | | | | Buying a used motorcycle from a repo auction can |
| be repossessed is due to the original purchaser | | | | be a very good way to procure an exceptional bike |
| supplying false information to the bank at the time of | | | | at a bargain price. Modern day auctions are well run, |
| purchase. In this case, the bike is repossessed much | | | | entirely regulated and safe to deal with. All financial |
| more swiftly, and an attempt will be made to | | | | transactions are closely monitored and audited, |
| negotiate with the retailer to return the bike at a | | | | meaning the shady dealings and back room deals |
| slight loss of price. If this fails, the bike will then be | | | | associated with auctions in the past is now behind. |
| presented at a repo motorcycle auction. | | | | Buyers should still exercise an amount of common |
| The third reason is a dealership is going out of | | | | sense when purchasing a bike from a repo |
| business and the dealer takes its entire remaining | | | | motorcycle auction, although they are now protected |
| inventory to a repo motorcycle auction to liquidate it | | | | far better than they were even ten years ago. |