Below 265 SQ/FT Got a repo'd shed!

[imagineer]

To facilitate the 'grand remodel' of my workshop, it became evident I needed more space. The easiest solution was to build a small shed for all the yard tools and equipment.

My plan was to go to a local shed sales lot to glean information on how best to frame, seal, roof, etc a small shed, but the lot sales guy said they had this nearly new model just in as a repossession.

I just bought this 8'x10', with tax and delivery included for 16% less than the materials to build one.

 

[billspit]

I need one, but about 14x32

 

[readhead]

When I got repo’s I would slap a Repo sign on it and it would be gone within two or three days. I had great visibility from the highway.

 

[jarhead]

people actually buy sheds on credit? WOW

 

[JRC3]

I had a 8x12 shed moved a few years ago and the mover told me about repo sheds. Really common apparently.

 

[southalabama]

There is a YouTube channel where the guy repos sheds. Some repos turn quite entertaining.

 

[southalabama]

Shed-happens is the YouTube channel.

Yep folks rent sheds and store **** usually not worth the price of the shed. Then they get repossessed and this guy films his repossessions.

 

[Shiftless]

Here is the info on a company that finances sheds. Such a deal!

 

[f121]

Yep folks rent sheds and store **** usually not worth the price of the shed.

Isn’t that pretty much the point of sheds? Ours has got a bunch of spades and forks and pruning tools, some tarps and bulky stuff like the lawn fertiliser spreader thing. Total value is about $1000 less than the shed cost, but it’s all stuff we need and it’s worth the price of the shed to not have the stuff taking up space in my shop.

 

[southalabama]

Isn’t that pretty much the point of sheds? Ours has got a bunch of spades and forks and pruning tools, some tarps and bulky stuff like the lawn fertiliser spreader thing. Total value is about $1000 less than the shed cost, but it’s all stuff we need and it’s worth the price of the shed to not have the stuff taking up space in my shop.

You renting it? Paying 35 percent interest?

 

[Miss the Pontiacs]

I’m still trying to get over the fact people rent water heaters!

 

[Bucko]

people actually buy sheds on credit? WOW

I guess if people will do all the rent to own for electronics and pay 4 times what its worth then why not. It totally preys on people that usually have made piss poor choices in life and can't afford anything outright or have the self control to save money.
I'm currently on the hunt for a car trailer at a good price and a local place does repos on them, they sell sheds also.
The guys that have a 10 year old rotted trailer for sale on Craigslist want more for them when they are new and 10 years ago they were half the price they are today.

 

[Shiftless]

Isn’t that pretty much the point of sheds? Ours has got a bunch of spades and forks and pruning tools, some tarps and bulky stuff like the lawn fertiliser spreader thing. Total value is about $1000 less than the shed cost, but it’s all stuff we need and it’s worth the price of the shed to not have the stuff taking up space in my shop.

That’s useful stuff so a shed is warranted.
The sad stories involve sheds or rental storage units filled with crappy old furniture, used mattresses, boxes full of old clothes that don’t fit anymore, stuff like that.

 

[Bert_]

Just out of curiosity what do these sheds go for?

I built one for myself last summer. I like to think I did all the value engineering possible. Not quite as nice looking as the one pictured. I have a lawn mower and other miscellaneous in there

 

[CoogarXR]

I bought a pre-built wooden shed back in 2017 or so. 12x16, if I recall, with a loft on each end. It was about $3k even, with delivery and a ramp. I already had a slab poured, so there was no setup to do. I tore down my old shed, and they just plopped the new one right on the old slab. It was so nice, lol.

I thought it was a great deal. It was so cool to just "order a building" like a pizza, lol. I ordered the colors I wanted, siding, roof style, windows, and it was here in just a few days.

A friend told me that the same shed is about double the price now, but I haven't verified.

 

[ranger101ran]

I never knew repo sheds were a thing until I came across a YouTube channel called ShedHappens. It's amazing how some people live.

 

[ratdoggy]

people actually buy sheds on credit? WOW

People can rent nice wheels and tires for the hoopties too.

 

[rharman]

People can rent nice wheels and tires for the hoopties too.

Yep. There's a wheel rental place I go past occasionally. Cracks me up - what a waste of money.

A new car I bought in 2009 came with nice 20" wheels standard. I could care less but they were nice and OEM. Go to work the next day and a guy at work says "You need to get some nice big wheels and tires on that bad boy!" I ask him why. He says "So when you pull up some where, people will know you're somebody!" I told him I already know I'm somebody and the standard wheels and tires will get me anywhere i need to go and why waste a couple thousand on different ones? He never did get it.

Of course, he bought a new truck and then refinanced it when the 7 year loan came due. UGH!

 

[545_days]

people actually buy sheds on credit? WOW

People buy fast food in credit. Imagine paying interest on a burger you ate 2 years ago.

I've always held to the rule that if you don't pay off your credit cards, you are paying interest on the stupidest things you bought with the cards.

 

[readhead]

Most shed companies offer Rent-To-Own, RTO, financing rather than money lending. There are no credit checks and a shed can be delivered the same day. I was surprised when I first got in the business that people would use the option but then I realized that it works for many buyers.
A very common case was someone who was buying a house, moving in, and needed storage but had not received funds from the sale of the old house and would buy a shed on RTO and pay it off in a month or two.
Another common purchase was the local native tribe members. South of Durango we have one of the richest tribes in America. They come in and buy a shed on RTO because their monthly stipend will cover the payment and they aren’t out any cash.
I had lots of people with bad credit that needed a shed. Surprisingly enough I have very few defaults.
One advantage to RTO is the ability to return the shed. Unlike a loan, if circumstances find that you can’t afford the payment, the buyer dies, you have to move and you can’t move the shed to the new place, etc, you can have it picked up and not owe any more money.
Finally, a lot of people buy portable buildings and turn them into a house. No bank would loan money for such a project so people will buy on RTO and have a paid off house in three years or less.