The biggest benefit of buying a repossessed horse trailer is that it is likely to be significantly less expensive than a new horse trailer. However, the selection may be limited, and the buyer may not be able to find one with all the desired features.
Used or repossessed horse trailers can also have significant damage or wear and tear, so buyers should inspect it carefully before committing to a purchase. They should check steel trailers for rust and aluminum trailers for damage around the seams. The floor should be strong and without damage. If it is a wood floor, the buyer should check it for rot. The buyer should also hook it up to a truck and check the electrical systems and brakes before buying it.
Older trailers may lack safety features that newer trailers have. Buying from a reputable dealer can help minimize the risks, but buyers of repossessed trailers should be prepared to make some repairs or upgrades. Buying at auction or directly from a bank may be riskier, since they do not specialize in horse trailers and may not perform repairs before selling it.
Some of the same dealers that sell repossessed trailers also handle used trailers in general. Buyers should consider all used trailers for a larger selection of models.