The Slimfish Files » Vehicles

Your Rights Regarding Car Repossession

Admin — Mon, 06 Jun 2011 11:34:33 +0000

In the current economic climate, not being able to keep up with debt payments is becoming an ever-increasing reality. Knowing your rights regarding car repossession will put you in a more powerful position, in terms of knowing how to avoid it, and also what to do if faced with repossession.

The National Credit Act sets out standard conditions for a vehicle instalment sale agreement. Provision of credit is based on the condition that the borrower pays back the capital plus interest. It is also based on the provision that should a borrower default on his payments, the credit provider is entitled to cancel the agreement and repossess and sell the vehicle in order to recover the outstanding balance owed to them. (www.legalcity.net)

“Credit providers of cars are known to be more aggressive in collecting arrears than property credit providers.” (www.carrepossesion.co.za).

This means that in the case of not being able to make a car repayment, it is crucial to alert the creditor immediately, and to find out the options available to you. Normally, once you alert the creditor, they will provide you with an opportunity to make the payment, usually by providing an extension. Should you still not be able to make the payment, the creditor will then take legal action to repossess your car.

There is also the option of “voluntary repossession”, whereby the seller takes back the car without the buyer or seller having to go to court (this necessitates an express agreement between the buyer and seller to this effect). A significant benefit to the buyer here is that this option does not attract a judgement to his name, which can last for 5 – 10 years. The seller also benefits, as he simply takes back the vehicle and auctions it off to recover the capital still owed on it. (www.carrepossesion.co.za).

Knowing your rights regarding car repossession requires you to understand the various steps in a regular repossession process. An attorney is legally unable to repossess a vehicle without a court order. A written warning also needs to be issued to the consumer.

The process follows this structure:

1^st letter is issued, giving the consumer 30 days to pay arrears
Is the consumer is unable to pay in 30 days, a 2^nd letter is issued, giving the consumer an additional 14 days
If no payment is made after this, the attorney gets a court order to repossess the car
The consumer then receives a summons, and goes to court to defend his case
Should it be determined in court that he cannot pay his arrears, the judgement to repossess is then made
The court or attorney will then be responsible for repossessing the vehicle
The vehicle will then be sold by the creditor, usually on auction, with the “voetstoets” condition attached

While it is difficult to get a vehicle back once it has been repossessed, if you make “full financial restitution on any money that is owed” (www.lisabank.co.za), it is possible to get the vehicle back, provided it has not yet been sold.

Financing a vehicle can feel like a daunting undertaking, especially if you are unsure as to whether you can keep up with your payments. If you are confident that your payments fit conformably within your budget, there is no reason why you would ever run into trouble in this area. However, it is worth knowing your rights regarding car repossession nonetheless, as circumstances can quickly change, and it pays to be prepared for any eventuality.

Your Rights Regarding Car Repossession is an original post from: The Slimfish Files

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AA Car Book Value

Admin — Mon, 13 Dec 2010 14:43:50 +0000

With the AA car book value you will be able to determine what your car is worth if you wish to sell it or you can see how much a car is worth that you would like to own. By making use of the AA calculator you will be able to get accurate vehicle prices, but you could also ask one of the assistants to help you if you are unsure of how this is done. You wouldn’t have to use a guide like this if you are purchasing a new vehicle, but if it is used automobiles that you are interested in, then a guide like this can definitely come in handy.

This is especially true if you are buying from bank auctions; by making use of an AA car book value calculator on the web you can see if the used automobiles are worth it. As there are so many bank auctions taking place in South Africa, you have to have some kind of idea as to what vehicle prices are reasonable and which ones are just plain ridiculous. By making use of the book value services on the Internet, you can use it any time of any day, as long as you have an Internet connection. If you don’t use a service like this, you won’t know if the price you are willing to pay for a vehicle is actually worth it.

AA is definitely a company you can trust, so you know that by making use of the calculator they provide you will be getting decent and accurate information back. Buying brand new vehicles in South Africa isn’t easy these days and this is why so many people are purchasing used vehicles, but after many of them have been ripped off with the prices they paid for used cars, people prefer to use the AA car book value program.

AA Car Book Value is an original post from: The Slimfish Files

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Gauteng Motor Car Auctions

Admin — Fri, 10 Sep 2010 15:01:19 +0000

Attending Gauteng motor car auctions is something that every person should do if they are looking to invest in a new or used vehicle. Many car dealers attend Burchmores and other auction holders as they get their cars at awesome prices and sell them off again at their own dealerships with a profit included for them. Not all auctions held by banks like Standard Bank, Wesbank or ABSA are available to the public, so you have to make sure that you are able to attend an event before you rock up there. There are often auctions held where repossessed vehicles are sold in Pretoria and Johannesburg, so if you are in one of these areas it shouldn’t be difficult for you to get to an auction.

There are many places like the dealers themselves where you can get one of the used repossessed vehicles, but it is in your best interests to rather go to the Gauteng motor car auctions and see what they have that you like. Burchmores is one of the most well known auction sites that is accessible online to anyone, so if you are in Pretoria or Johannesburg that is fine you may still take part.

Wesbank, ABSA and Standard Bank and just three of the banks that are known to open their auction doors to the public, so make sure you pay any one of them a visit to see what information they have for you on their next auctions. There are many places that may seem perfect to go to to get your dream car, but the truth is that an auction is actually the ideal place for you to pick up good deals on repossessed vehicles, so if you are searching the market for a decent priced car, look no further than the Gauteng motor car auctions around Pretoria and Johannesburg.

Gauteng Motor Car Auctions is an original post from: The Slimfish Files

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Public Car Auctions in Gauteng

Admin — Wed, 25 Aug 2010 12:46:54 +0000

Attend public car auctions around Gauteng in Johannesburg and Pretoria to buy repossessed vehicles from ABSA, Standard Bank, Nedbank and other major financial institutions that are repossessing automobiles in South Africa. Given the economic climate in recent times there are lists of people losing vehicles due to defaulting on payments and contracts. As hard as it sounds, one man’s loss is another man’s gain (or woman’s of course) and for those who are in a stronger position financially, there has never been a better time to pick up new and second hand transport from weekly events held in this region. Both the general public and dealers alike are bidding against each other at these events in an effort to successfully purchase the vehicles that are up for sale.

Burchmores hold frequent car auctions in Gauteng and list the vehicles for sale so that buyers get the opportunity to have a good look through and can compare items they may be interested to bid on. At most events the opportunity exists to inspect automobiles before the bidding begins. This inspection period can be for a few hours before the bidding or sometimes bank repossessed cars kept in warehouses can be inspected for damage or excessive wear and tear a day before an event. In almost all instances, no transport is allowed to be test driven as to control this sort of thing would become a nightmare for auction event organisers.

Finance is always available for people looking to purchase a new or second hand automobile and vehicle financing companies such as Wesbank and Bankfin have desks and offices set up at Johannesburg and Pretoria vehicle auction events to assist with advice and details on how to purchase a repossession with an auto loan. Bakkies, motorcycles, trucks and commercial vehicles are also amongst the lists of repossessed transport for sale in the Gauteng region at auction events and can often be obtained through the related financial service providers.

Frequent events are normally well attended with dealers travelling from Durban, Cape Town and other coastal regions, looking to bid on and purchase vehicles that are almost guaranteed to be rust free and in a decent condition. Whether it is a Burchmores auction in Johannesburg or bank repossessed event in Pretoria you wish to attend, know that there are a wide variety of vehicles for sale available at the Gauteng car auctions and with a little patience and research, you can pick up a practically new automobile at a considerable bargain when compared to buying something brand new.

Public Car Auctions in Gauteng is an original post from: The Slimfish Files

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Absa, FNB, Nedbank and Standard Bank Repo Cars

Admin — Thu, 23 Apr 2009 07:46:51 +0000

Absa, FNB, Nedbank and Standard bank repo cars are sold from repossession auctions like Burchmores and Aucor on a weekly basis throughout different regions of South Africa. With the current credit crunch many people are facing financial difficulties and sadly as a result are losing vehicles due to defaulting on monthly payments. Although we have sympathy for those in the unfortunate position of having a vehicle repossessed it does present an opportunity for those looking to buy a used car to pick up a bargain by bidding against other potential buyers at the regular auctions.

For those wanting to buy a bank repossessed car at a Burchmores or Aucor auction we advise that you spend some time examining things thoroughly before taking the plunge. This may sound obvious but it is important to keep in mind that most people have lost a vehicle due to financial problems which often means they have neglected to maintain it or held back with spending money on repairs. The major banks like Absa, FNB, Nedbank and Standard Bank will usually clean the car up and make it look presentable and pleasing before going on auction but will not usually spend money on repairs that could be needed.

For this reason, take someone with you that knows something about mechanics or what to look for when buying a used car in SA. Vehicles are normally stored in warehouses or storage garages before an event for the public to view and examine things properly but you will not normally be allowed to test drive anything. Anyone new to the repossession auctions will find there are staff on hand to help and advise on the process and requirements and finance is almost always available on the spot for anyone who needs to borrow money for bidding on and buying bank repo cars at an auction.

Absa, FNB, Nedbank and Standard Bank Repo Cars is an original post from: The Slimfish Files

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Supa Quick Branches Selling Tyres, Shocks and More

Admin — Thu, 16 Apr 2009 18:29:52 +0000

Supa Quick branches in Cape Town, Menlyn, Midrand and other regions of South Africa offer new tyres, shocks and exhaust fittings from quality brands at affordable prices. It is all very well getting quotes on tyre prices from various dealers in the country and eventually deciding to buy cheap tyres but it is wiser to spend a little more and buy a quality brand such as Firestone, Dunlop or Good Year from a reliable dealer such as Super Quik. They will hold their pressure better and longer as well as be longer lasting and less likely to blow out.

For people visiting Supa Quick branches to buy products other than tyres such as new shocks for a car or quality exhausts, the same applies. Quality and durable products at affordable prices. Their workmanship ensures that your car is inspected correctly and quotes of any work required are honest and as accurate as possible. They treat all vehicles with love and care while working and fitting parts and use seat covers every time. A staff member will also go through the vehicle with a customer and examine finished work together before leaving the premises.

Other products and services offered by this South African car parts supplier and fitment centre include wheels, batteries, tyre balancing and wheel alignment. Wheel alignment is very important on a vehicle to prevent un-even wear on tyres. If you are looking for an auto centre that offers you quality parts such as tyres, exhausts, shocks or wheels and fitting at affordable prices then out of the 250 Supa Quick branches throughout SA, there is sure to be one close to you.

Supa Quick Branches Selling Tyres, Shocks and More is an original post from: The Slimfish Files

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Tafelberg Furniture Stores

AA Autobay – Find, Buy and Sell Cars Online

Admin — Wed, 25 Mar 2009 20:01:58 +0000

AA Autobay lets you find, buy and sell cars around South Africa online as well as apply for used car finance or motor and home insurance all from the comfort of your home or office. There are good reasons that this website has worked well since it’s launch in 1996, helping people to buy and sell pre-owned vehicles and one of them is because it is run by the respectable and well established Automobile Association. Buyers can be rest assured that all vehicles advertised on the site have undergone the Multi-Point check and users that have completed the registration process have access to the reports giving peace of mind that a vehicle has not been rebuilt or stolen.

Amongst other benefits on AA Autobay besides buying and selling cars online there are flexible finance options for privately bought vehicles. This company are one of South Africa’s only registered financial credit providers that offer motor finance for pre-owned cars for all makes and models up to 15 years old and they offer a finance calculator for buyers to get a guide to what their monthly repayments should be. Registration is free of charge on the site and once registered a user may set up his or her profile as a buyer or seller or both and can begin interacting.

They’re not only all about selling vehicles online either, this respected automobile company will even go as far as getting you the best possible insurance cover after you have purchased your vehicle. They will obtain quotes on your behalf from several of SA’s top insurance companies so that you can compare and choose the cover that suits your needs and budget. Add to the list tips for buyers and sellers and by the time you are finished you have a sophisticated one stop portal making AA Autobay the number one choice when it comes to buying and selling used cars online.

AA Autobay – Find, Buy and Sell Cars Online is an original post from: The Slimfish Files

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Tyre Prices From Dealers Around South Africa

Admin — Wed, 11 Mar 2009 15:17:54 +0000

Tyre prices from dealers around South Africa offering special offers and quotes on the cheapest brands to buy in the country for those who need them can be contacted online. There are many respectable companies in Cape Town, Durban, Johannesburg, Port Elizabeth, Bloemfontein and in fact all over the country selling these and other car accessories at low cost to the public. Companies such as Tiger Wheel and Tyre, Hi-Q, Speedy, Supa-Quick and Conti-Partner are just a few of the more popular outlets that have franchises throughout the country.

Apart from the tyre prices from dealers around South Africa there are usually other related services available at these stores and workshops. Wheel balancing is one of them which is usually done when a person replaces a tyre or several on their vehicle. Also wheel alignment which needs to be carried out by a qualified mechanic periodically to ensure even wear and tear. Before you go ahead and get different quotes for new tyres, wheel balancing and alignment make sure you write down the tire sizes as the mechanics and companies that you are going to call will need that information in order to quote you accurately.

Brands such as Firestone, Bridgestone, Dunlop, Continental, Pirelli and Good Year are recommended manufacturers to consider when buying and occasionally dealers will be able to offer quotes on cheaper products made by the same manufacturers but under a different brand name. Be careful with this though, often a devious company may try and sell a person sub-standard products and tell the customer that they are manufactured by a well known brand like Firestone, Dunlop or Continental. If you can afford to spend the extra money on getting high quality brands then you cannot go wrong and compare tyre prices from the various dealers around SA to get the lowest deals.

Tyre Prices From Dealers Around South Africa is an original post from: The Slimfish Files

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McCarthy Used Cars

Admin — Tue, 17 Feb 2009 10:02:20 +0000

McCarthy used cars for sale from their excellent “Call-a-Car” service offer the general public one large online dealership which can also assist with insurance and vehicle finance. When purchasing from the group a person simply confirms their contact details and the make, model and other motor vehicle details that they are interested in which all gets forwarded to the dealership. Soon after a sales assistant contacts the customer to assist with the necessary information in connection with the vehicle interested in. A financial advisor is on hand to those who require finance and will help with advice on the most suitable options and whether or not a deposit is necessary.

Making a purchase from the McCarthy used cars group is a wise decision for those looking for peace of mind that they are getting a reliable pre-owned motor vehicle which is important considering that buying a car is the second largest purchase most people will make, next to purchasing property. Choosing the correct make and model is an important decision and it is nice to be able to have access to expert advice and assistance from the consultants at the McCarthy company. Not only that but getting advice on vehicle insurance packages and finance deals is an added bonus from a company that has been established for almost a century.

This well respected car dealership prides themselves in dealing fairly and in an ethical manner, dealing openly and with transparency. They will make sure you are either covered by the manufacturers’ warranty or else a McCarthy warranty. For those looking at picking up a real bargain and perhaps not too fussy about the exact make and model when purchasing one of the pre-owned vehicles available, there is a ‘Best Deals’ feature worth checking out within their easy to navigate website online. All in all, the “Call-a-Car” service offering customers the opportunity to buy good McCarthy used cars online is a service we can certainly recommend if you are in the market for buying a vehicle.

McCarthy Used Cars is an original post from: The Slimfish Files

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Repossessed Cars at the Auctions

Admin — Thu, 12 Feb 2009 20:08:17 +0000

Repossessed cars at the auctions held on regular dates around SA can be bought at bargain prices for those hoping to purchase a cheap vehicle but some caution needs to be exercised. The main reason many people end up losing their wheels to the banks is because of financial difficulties. They cannot keep up with the monthly repayments and eventually after trying to negotiate and make arrangements the bank will employ a debt collector to come and take the vehicle. The people that this happens to are more often than not in serious debt and struggling to access any money.

This may mean that some repossessed cars sold at auctions have been neglected. Those who have lost their vehicles to the banks may not have been able to afford regular services or any mechanical repairs that might have been needed. Bearing this in mind it is a good idea to take somebody who knows something about the mechanics of a motor vehicle or better still a fully qualified mechanic. Most auctions will allow potential buyers to view cars, motorbikes, caravans, bakkies and anything else that is being sold at the auction one day prior to the event. Lists and catalogues are usually available as well for potential buyers to browse through before attending.

So what different kinds of auctions are held around South Africa? Well, the major banks in the country, Absa, FNB, Nedbank and Standard bank all have lists of repossessions and organise various events at different times in many parts of SA. Registrations and sales processes may differ between the banks and finance for those who need it is often available to apply for on the spot and the day of an event. Another popular repo auctioneering company in the country is Burchmores. They too hold regular events all over, you may have heard the Burchmores radio ads or seen their adverts in newspapers which normally inform the public of the times and whereabouts of the most recent events. The key to buying is simply not to rush a decision and take time to check everything properly before buying any repossessed cars at the auctions around South Africa.

Repossessed Cars at the Auctions is an original post from: The Slimfish Files

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