What online repossessed car auctions are available in South Africa? Is it a good idea to buy a vehicle online or should you go to a physical auction event? This information will help you if you are looking to bid online for a car repossession. If you are looking to purchase a quality second hand vehicle at a lower price you can look into bank repossessed vehicle online auction sales. There are many repossessed vehicles for sale at any given time throughout the country. And by different financial service providers. You could go to a live auto auction event to find a vehicle. However it is far easier to look into buying a repossessed vehicle through an online auction. You will find vehicles of every different type, make and model on the online vehicle auction sites. So you will find something that will suit your needs and wants as well as your budget. Where can you find Online Repossessed Car Auctions? Most financial service providers have repossessed vehicles for sale. Some banks auction off the vehicles themselves. While other banks pass them on to auctioneering houses to auction the vehicle off for them. A few of the banks that have… Read More

If you are looking to buy a repossessed vehicle, you will have asked yourself the question “which bank is best to buy repossessed cars from?” The answer depends on a combination of the buyer’s needs and several other factors. A working understand of the process of repossession and the sale of repossessed vehicles is essential in deciding which financial service provider is best.   What is a repossessed vehicle? Because vehicles are generally very expensive, most individuals need to take out loans with financial service providers to afford them. Although reputable financial service providers usually only offer loans to reliable individuals with good credit histories and a steady income, you cannot always predict circumstances that affect an individual’s finances in the future. Many people, through the loss of a job, an unexpected medical bill or some other expense that they were not prepared for, find themselves in a position where they cannot afford to pay all of their bills. Because food, shelter, medical services and education come first, loan repayments on vehicles are usually the first thing the individual will not pay. Once an individual has missed a few payments or has not paid the full amount, the financial service… Read More

Knowing how and where to find lists of repossessed cars for sale online is a good start to finding a good quality vehicle at an affordable price. In today’s world it is essential to have transport in order to live a successful, fulfilled and happy life. If you are in control of your own transport, you will have greater freedom in structuring and managing your own life and that of your family. However, buying a car is expensive and many people cannot afford brand new vehicles. Some people then look to second hand vehicles through second hand dealerships, but due to the perception of dishonesty and bad value for money that second hand dealerships have, this option is not much better. One of the best ways forward in terms of good quality of the vehicle and affordability is buying a repossessed vehicle.   What is a repossessed car? When an individual purchases a vehicle, they will undoubtedly need financial assistance. Most people approach reputable financial service providers like ABSA, First National Bank, Wesbank, Standard Bank and others for loans. If they are approved, they will have to pay monthly loan repayments to the bank who serviced their loan. If someone… Read More

Repossessed caravans in South Africa, if you are researching where to buy a caravan repossession, you should look no further. Bank repo caravans can be found on auction by many of the same large auctioneering companies that sell repossessed cars, motorcycles, SUVs and other vehicles. Why buy Repossessed Caravans? Financial service providers in South Africa will often repossess goods from clients if they cannot or will not make their monthly loan repayments. They will usually hold the goods for a short period, giving the client the chance to find the money to pay off the loan. If the client cannot come up with the money the financial service provider will pass the items on to an auctioneer to try to get some of their money back. Buying a repossessed caravan can save you a lot of time, money and worry for several reasons listed below. Repossessed goods are often newer than other second hand items. Repossessions might still have service plans intact which will save you money in the long run. Repossessed caravans may have their warranty's intact (for example a rust warranty) which would also save you money in the long run. Goods are sold on auction. Therefore the… Read More

ABSA car auctions in Gauteng offer you the chance to bid on and buy bank repossessed cars in South Africa. Buying a car at these events can be exciting, daunting and terrifying all at once. However going through the ABSA car auctions in the Boksburg area of Gauteng is a good way for you to find your dream vehicle. Why Buy a Car at ABSA Car Auctions? 5 reasons to buy a car at ABSA car auctions: ABSA Bank has a good reputation The car auctions are run professionally You can get in-house vehicle finance Boksburg has an ABSA Trade Centre ABSA consultants can help explain bidding This bank a well known and reputable financial service provider in South Africa. Because they have been around for many years and have many happy clients you can trust that dealings with them will be honest and transparent. ABSA car auctions in Gauteng have provided many buyers with good quality vehicles and helped them take control of their lives. There is an ABSA trade centre in the Boksburg area of Gauteng. Buying a New Car Although it is a dream of most people to own a brand new car it is often not… Read More

Across the South Africa, right now, there are millions of second hand motor vehicles on sale through private sellers, second hand dealerships, and of course, repo vehicle dealerships. Many buyers are cautious about used vehicles for a number of reasons. They ask themselves: What if there is something wrong with the car and it breaks down within a few weeks? How will I afford to repair it? Will I be able to sell it on in the future or is the mileage too high? Is the smiling salesman telling the truth about this car? Are they ripping me off with the price? Will the car’s owners ever actually see the money for the car? Buying second hand can be daunting. Unless you are a mechanic or a serious car enthusiast, you will probably experience anxiety at the thought of buying your vehicle second hand. Cars are expensive, and if you cannot afford the payments on a brand new vehicle, your only option is to buy second hand. A repossessed vehicle from a repo vehicle dealership might lessen your anxiety and make your experience somewhat easier.   What do they do? A repo dealership auctions and sells cars on behalf of… Read More

Buying a repossessed car in South Africa comes with both pros and cons. It can work out a cheaper way of purchasing your new wheels. However you need to know what you are doing so that you have all the information on how to buy repossessed cars from banks and auctions. Buying a repossessed car can be done in the following ways: Buy at Bank Auctions (Absa, Nedbank, FNB etc) Visit Vehicle Asset Auctions Buy from a Car Dealer specializing in Repo Vehicles Online Car Repossession Auctions Bank Repo lists direct from the Banks This may also interest you: Buy Absa Bank Repossessed Cars For Sale It seems like more and more repossessions are being put up for auction than ever before. Leaving people wondering: is it a good idea to buy a repo vehicle? In today’s harsh economic climate, people are increasingly unable to afford the car they once could. This means defaulting on car instalment payments that can eventually lead to the bank repossessing and reselling the vehicle. This can also happen if the car was used as debt security. Bank repo cars are often sold for under 30% of the original face value. So if these cars… Read More

You can find your next used cars at Automart.co.za by using the search function on the website to find exactly what you are looking for. The beauty of the Automart website is that you can choose how specific you want to be when searching for a used car. If you know exactly what you want, you can refine your search to include type of car (sedan, hatchback, SUV, bakkie, etc.), make, model, year, mileage, price and other specifications. If you are less certain, you can simply browse through the latest used cars on offer until you find what you are looking for. You can also choose a specific location or province. Choosing a car from your area makes the transaction a lot smoother as you won’t have to travel to collect the car. It is best to first establish a budget of how much money you can afford to spend on the car. This will be one of the major factors in refining your search. You can set the price parameter in the search function so that you only view cars within your price range. Because there is such a wide range of cars listed on the website, refining your… Read More

Try Standard Bank repossessed cars sales to find a bargain on your next used car purchase. In harsh economic climates people lose their vehicle assets. Because they are unable to make the necessary payments. Auctions selling Standard Bank vehicle repossessions offer: Cars Bakkies Caravans Trucks Motorcycles Fleet Vehicles This means a growing market for repossessed vehicles that are sold for pocket-friendly prices. In South Africa, over 1200 cars are repossessed every month. Because people can no longer afford to pay for their cars. These lists of numbers are growing further after Covid 19 and lockdown. Because people are losing income and in turn facing vehicle repossession by the bank. Why are cars repossessed by Standard Bank? A car will be repossessed by the bank if the owner neglects to or is not able to make the payments with interest. Standard bank lent the person money to buy the car. But if they are not receiving this money back they will take the car into their possession. The subsequent sales from the car will be used to recover the outstanding money owed to the bank. Vehicle repossessions occur if the borrower does not pay monthly instalments. If they violate the terms… Read More

Nedbank repossessed cars and vehicles for sale in South Africa are ideal if you are looking to buy a bargain. Repossession takes place when a person who has bought a financed vehicle falls behind. Or does not honor the monthly payment agreements. If this happens, Nedbank or the bank that financed the asset is liable to repossess it. As a financial services provider, Nedbank repossesses vehicles from people who can’t pay the regular instalments. Or from people who abuse the lending terms. Such as using the car as surety for another loan. These cars are sold at a Nedbank vehicle auction, often for very competitive prices. Is it OK to buy Repossessed Cars? Yes it is OK to buy repossessed cars. In South Africa a lot of people regularly fall behind on monthly vehicle repayments. So you may think that a repossessed vehicle will have been neglected and not gone through regular service intervals. This may be the case with some of the cars going on auction. But in general the vehicles are in good condition. Therefore it is OK to buy repossessed cars at an auction. Particularly in times of a global recession, more and more people find that… Read More