Vehicles for sale at bank repossessed cars auctions are available. If you are looking to buy a cheap bargain from major SA banks. Like Standard bank, Nedbank, Absa and FNB and held on a regular basis throughout the country. One of the countries top auctioneers is Burchmores. Who are a subsidiary of McCarthy with branches and regular events in Johannesburg, Durban and Cape Town. They also hold monthly repo auctions in Bloemfontein and Port Elizabeth. In addition, Nelspruit, Polokwane (Pietersberg), Knysna and Pinetown. Burchmores is probably the most popular vehicle auctioneering company in the country.
If you want to buy vehicles for sale at bank repossessed cars auctions you need to exercise a little caution. Because vehicles have been taken back are from people who have been in debt and could not afford the monthly repayments. This often means that the maintenance of the automobile may not be up to date. And regular servicing or repairs have probably not been carried out when necessary.
It is advisable to take a mechanic with you if at all possible to have a good look over the vehicle before bidding. Most of these events have a showroom area. Where repo cars, bakkies, motorcycles, trucks and vans can be seen before the bidding begins.
Bank Repossessed Cars from which Banks?
Most of the major banks in SA… Nedbank, Absa, Standard bank and Wesbank from First National have no problem in financing automobiles of this nature. And some of them will have areas set aside at the auction events. In case you need to apply for finance on the spot.
There is usually a deposit to pay up front before any bidding gets under way at an event. And the amount will differ from one place to the next. If you are new to the auctioning and bidding process then there is always someone available to help. They will explain the process to you and what to expect when bidding.
A good tip is to attend one or two events before you are ready to buy just to observe exactly what goes on. And how they sell vehicles for sale at bank repossessed cars auctions throughout South Africa.