How To Find Repossessed Horse Trailers – Don’t Get Ripped Off!

Repossessed horse trailers are excellent options for buyers with strict budget limitations. They’re sold through bank-organized auctions. Prices range from $200 to $43 000. NADA guides are excellent tools to assist with understanding the market price.

Buying a horse trailer is a big decision and an exciting adventure for horse owners! One option for budget-conscious buyers to consider is repossessed horse trailers. These are trailers that have been repossessed from the original owner for non-payment. They are offered for sale to the public by the bank. These horse trailers can be picked up at jaw-droppingly low prices!

Before you joyfully dive into the deep end of repossessed horse trailers, it is essential to ask yourself a few questions:

1. Where can you find repossessed horse trailers?
2. What are the prices for repossessed horse trailers?
3. How to find a repossessed horse trailer that is safe and a good deal?

Where To Find Repossessed Horse Trailers

The easiest method to find listed repossessed horse trailers is through an online search or by contacting your bank. The bank will be able to put you in contact with the department handling auctions of repossessed vehicles.

Suppose you live in a non-horsey area, or you are looking for an exceptional bargain. In that case, you may need to travel to another state where horse trailer ownership is more common and where they hold larger auctions featuring horse trailers. You are more likely to find repossessed horse trailers listed in farming community auctions than at auctions held in cities.

Repossessed Horse Trailer Prices

The repossessed horse trailer’s price will vary according to its specifications, age, model, and condition. The final price will be determined by the bank’s minimum holding price and the number of bids received for the horse trailer. It is possible to buy repossessed horse trailers for as little as $200 and as high as $45,000.

When determining the maximum bid to place on a repossessed horse trailer, it is worthwhile knowing what that trailer’s actual retail price would be if sold through alternative channels. It means that you can neatly avoid paying more than the trailer is worth. After all, the point is to find a bargain!

The National Automobile Dealers Association offers NADA guides and Kelley Blue Books detailing the realistic market price for used automobiles compared to their original wholesale price. Unfortunately, they do not provide this service for all horse trailers.

The guide lists all horse trailer makes and models featuring living quarters from 1995 to the present. To access the manual, you will need to pay a subscription fee. This fee is nominal and worth paying if you’re looking for a repossessed horse trailer with living quarters.

Recently, an Exiss four-berth, gooseneck repossessed horse trailer was sold on auction for $27 995.00, which is a fraction of its regular retail price of $41 153.23. This trailer was in excellent condition, which an independent horse trailer expert verified. This trailer is classified as an outstanding bargain!!!

I have included the actual results from recent auctions held in the past 60 days and listed three winning bids each for bumper hitches and gooseneck hitches.

Recent Trailer Auctions Results

Is A Repossessed Horse Trailer A Good Deal?

Good deals can be found amongst the available repossessed horse trailers available for sale IF you know what to look for. A horse trailer need not be terribly expensive to be functional and safe. Still, a cheap, unsafe horse trailer, new, used, or repossessed, will never be worth the price of your horse’s safety.

The banks sell the most repossessed horse trailers at auction. Different auctions will have different rules regulating tryouts and pre-auction viewings. The most common approach is to allow prospective buyers a few hours to view the available horse trailers. The horse trailer may not be taken off the property or hitched up for a test drive.

An experienced buyer will often pick up outstanding, repossessed horse trailers for a fraction of their worth, especially if the bank imposes no minimum holding price.

What To Look For In A Repossessed Horse Trailer

It is vital to examine repossessed horse trailers carefully before committing to a buy. These horse trailers should have all relevant documentation. However, there are often details that are not written down on paper and can only be answered by the previous owner, who is not there!

Not all the repossessed trailers offered for sale are worth the price tag attached, even if it seems like a bargain. Many unwary buyers have ended up with a white elephant on their hands as they struggle to salvage the price they paid for this hazardous piece of equipment.

When attending an auction it’s essential:

• That you have a clear idea of what you need in a horse trailer and what you are willing to pay. A good auctioneer will know how to work with the crowd to drive up the price. The exciting auction atmosphere can result in buying something that is not perfect for you or paying more than you ever intended to spend.
• Pay attention to details! When inspecting the repossessed horse trailer, it is essential to look at the small details. These details will provide you with a clearer insight into how the horse trailer was used and maintained by the previous owner. Remember, when viewing a repossessed horse trailer, the previous owner will not be available to answer your questions!
• Take someone experienced with you: When buying a horse trailer, it would be best to take someone experienced with you. Ideally, it would be someone who is mechanically minded and experienced with repairing horse trailers.

We’ve compiled a quick checklist for inspecting a Repossessed horse trailer

• Horse Trailer Title: Is the title clean? You don’t want to pay for someone else’s fines!
• General Appearance:
  1. Check the general appearance of the trailer – look for damage (dents and scrapes). Suppose the appearance shows neglect and lack of care. In that case, there will probably be hidden problems that will affect the unit’s integrity.
  2. Check if the trailer is the correct size for the horses you intend to transport. A six-foot-wide trailer will work for most average horses. It would be best if you went wider for draughts and bigger horses. Make sure there’s enough headroom also
  3. Look underneath for signs of wood rot or metal fatigue in the floor and ramp, especially the ramp top near the hinges.
• Suspension
  1. Assess how the trailer sits when placed on level ground. Does it appear to be leaning to one side? An unlevel trailer may indicate an issue with the suspension system.
• Tires And Wheels
  1. Inspect the condition of the tires and the amount of tread remaining.
  2. Assess the tire sidewalls; if it’s cracked or damaged, they will need to be replaced.
  3. Inspect the wheel rims. They should be round with no dents.
• Brakes
  1. Try the handbrake and check the condition of the brakes.
  2. The discs or hubs should not be worn and are within allowable limits.
  3. Check if the braking system is appropriate for the tow vehicle and the size of horses to be transported.
• Ramp
  1. Ensure the ramp is structurally sound enough to bear the horse’s weight and is easy to open and close.
• Dividers And Partitions
  1. Ensure that all dividers are seated correctly and are secure.
  2. Check that any adjustment mechanism works and moves freely and correctly.
• Condition And Wooden Structures
  1. Ask an expert to check the moisture content using a moisture meter.
  2. Look for moisture and rot in the walls.
  3. Check the floor for structural integrity, especially along the joints at the sides. If a horse falls through the floor while being transported, the results will be catastrophic!
  4. Inspect the roof for damp spots and signs of leaks.
  5. Ensure the door fits correctly in the door frame.
  6. The windows shouldn’t leak and should be intact.
• Look For Rust Damage
  1. Check the integrity of the chassis, wheel hubs, and braking structure.
  2. Inspect the tow bar for rust and also ensure the alignment is straight and not bent. The tow hitch must operate freely and not stick.
• Electrical System
  1. The wiring must be intact and in good condition.
  2. Open light covers and inspect the condition of contacts for rust or wear.
  3. Check brake, indicator, rear lights, and interior lights function correctly.

Conclusion

Prospective buyers must factor in several considerations when purchasing a repossessed horse trailer based on their needs, budget, and evaluation of current listings for repossessed horse trailers.

These trailers are typically offered to the public by bank-organized auctions. There is a considerable variation in price based on the make, model, year, and condition of the repossessed horse trailer. The winning bids can range between $200 to $43,000.

It is important to inspect a horse trailer before buying it. It is always best to walk away from an unsafe trailer, even if it’s offered at a bargain price. There are many excellent repossessed horse trailers offered for sale. A knowledgeable buyer will be able to find a safe, functional horse trailer at a fraction of its wholesale price if they know what to look for!