Repossessed cars in Gauteng sold at auctions by banks such as ABSA, FNB, Nedbank and Standard Bank can be bought at wholesale prices to public buyers. The majority of car auctions in Gauteng take place in the Johannesburg and Pretoria (Tshwane) areas and on a weekly basis. Lists of vehicles help potential buyers to know what is going to be auctioned off at each event and often catalogues are available listing the various makes and models.
Buyers planning on buying repossessed cars in Gauteng at bank auctions need to be aware that no vehicles are allowed to be taken out for test drives. There are simply too many automobiles and allowing each and every individual interested in buying just leads to chaos. Also, in the past, there have also been instances where the previous driver of a vehicle repossession has posed as a potential buyer and taken his or her car back after requesting a test drive before the rule became mandatory!
Bidding on and purchasing cheap vehicles at an event takes a little bit of experience as beginners are usually bidding against second hand car dealers from Johannesburg and Pretoria who may be experienced in what to look for and what price to pay. The best advice we can offer is to firstly find out from second hand vehicle dealers what certain makes and models that you are interested from a list or catalogue are selling for. Then set yourself a limit that you are prepared to pay for that model and be sure you are not going to bid over that amount on the day.
Once you are educated in this area and have your maximum price set then you are ready to attend an event, but as a spectator at first. We advise you attend two vehicle auctions in Gauteng as a spectator to get a really good feel for the process and gain confidence enough to participate. Once you take the plunge and attend an event, stick to your game plan and do not be disappointed if you are out-bid by a dealer or someone else, there will be many more. Stick to this advice and we guarantee that before long you will be buying a real bargain amongst the cheap repossessed cars being sold in Gauteng at bank repo auctions.