Repo cars at bank auctions are a great place to look for a fantastic deal on a wide variety of car brands and models. The reason why the cars at auction are sold for such brilliant prices is due to the fact that the previous owner defaulted on their vehicle loan repayments and as a result the bank was forced to take back possession of the vehicle. This has resulted in them having to sell the vehicle in order to make back the money still owing on the vehicle. This is the secret to repo car auctions, as the banks are only looking to make back that money owing and therefore you can get the cars at below market or trade value. There are however a few points that you need to be aware of when you are looking at repo cars at bank auctions.   You cannot test drive the cars at repo auction Unfortunately, you cannot take the vehicles out for a spin before you purchase. This is a downfall as without that experience of the vehicle, it does put a lot of people off purchasing at auction. However there are ways around this as if you want,… Read More

Pretoria vehicle auction events are no different to those auctions held around the country at a number of auction houses such as Birchmores and Aucor. If you are however looking specifically in that area, then why not visit www.autostart.co.za where you will be able to view a list of all the vehicles going up to the hammer. The list on this site is updated every Monday and therefore should you not find what you are looking for one week, you can keep looking and hopefully find something suitable. So before visiting any one of the Pretoria vehicle auction events, what do you need to know about car auctions. Well firstly, there are a number of different vehicles and models that go on auction weekly. These vehicles can either be bank repossessed vehicles or privately owned vehicles. Although bank repossessed vehicles come at reduced prices, they are offer in poor condition to their privately owned counterparts. This however is not always the case and you may find yourself getting an absolute gem for very little money. For those of you who are interested in attending and purchasing from a car auction, there are a number of things that you should consider… Read More

Sources of repossessed cars in S.A are abundant however the best place to look for these repossessed cars is through your bank. Repossessed cars refer to vehicles that have been taken back in to possession by the bank through which a defaulting lender obtained credit to purchase the car. A defaulting lender is a person who has not kept up to date with the repayments that are due on vehicle finance obtained from a bank. For those of you who are interested in purchasing a repossessed vehicle and are looking for sources of repossessed cars in S.A then here is a list of places that you can look: Wesbank is one of South Africa’s leading banking groups and they have a website dedicated to the repossessed cars that they have. If you visit www.wesbank.co.za and search for repossessed cars, this site will not only provide you with valuable information about purchasing a repossessed vehicle, but also will direct you to a link where you can view the list of repossessed vehicles that they have in possession. The majority of the repossessed vehicles go on sale through auction houses such as Burchmores and Aucor and with branches nationwide, it means that you can… Read More

What do you need to know before buying a repo car? Well the first thing you may want to know is what exactly a repo car is. A repossessed car is a car that has been taken back in to possession by the banks as a result of the previous owner defaulting on their repayments. As a result, the car is being sold by the bank for a much lower price than you would be able to get it from a dealership. This therefore presents an opportunity to those individuals who have the funds available to afford the car as they will be able to purchase the car at a great price. There are however some issues that need to be raised on the topic of “What do you need to know before buying a repo car?”   The issues are as follows: 1. Repo cars are sold as is. This means that the banks are not responsible should there be any fault with the vehicle that you find after purchase. It is therefore imperative that if you do not have a strong knowledge of vehicles and how they work, that you either take a qualified mechanic or auto electrician… Read More

Absa Bank repossessed cars for sale in South Africa are either sold at public auctions or through a closed tender. So how do you buy one of these vehicles? All you have to do is contact your nearest Absa Trade Centre and see what they have to offer. Before you buy Absa repossessed cars consider these 4 points: Repossessed cars are bought "As is" You pay a deposit at the auctions Apply for Absa vehicle finance beforehand Have a set budget to buy your car You can get deals on a number of vehicles as Absa has a wide variety of makes and models to choose from. What is more is that expert consultants support each sale and they provide easy financing options. Currently Absa has five trade centres in South Africa. Situated in Bloemfontein, Boksburg, Durban, Milnerton, and Port Elizabeth. This means that no matter where you are in South Africa, you will be able to buy Absa Bank repossessed cars for sale. You may also be interested in: Standard Bank Repossessed Cars Sales So why Absa Bank repossessed cars over any other bank? Because Absa is a leading financial service provider in South Africa. This means that they… Read More

Where can you find FNB repossessed cars for sale in South Africa? And which upcoming vehicle auctions are selling repossessions from FNB bank? There's a lot of information floating around online about auctions and where to buy bank repossessions. So we look at these questions to help to find your vehicle at a lower cost than most dealerships. The first place that you should look is on the Wesbank website at: wesbank.co.za. Here you will be able to click on a link to the site that contains all of the information you need to know about upcoming vehicle auctions. Because FNB is a part of the Wesbank group, the rules and regulations that apply to the Wesbank repo auction apply to any FNB car auction. Important Points to Remember: You can view the cars at the auction center a day before the auction. The final catalogue may be updated or changed on the auction day. WesBank reserves the right to remove cars from the auction catalogue without prior notice. All bank-repossessed cars sold at the auction are free of any debt or encumbrances. This may also interest you: Online Repossessed Car Auctions in South Africa FNB Repossessed Cars for Sale… Read More