If you are you looking to buy a car for an absolute bargain, then make sure you take a look at Absa repossessed vehicle auction events in South Africa. Absa is the largest financial services provider in South Africa and their network and footprint with South Africa is impressive.
At this stage you may think that buying a repossessed vehicle is not a great idea at all. You may ask yourself questions like:
- Are repossessed cars in good condition?
- Am I buying a car for a good price?
The good news is that your wallet will be smiling because the highest bidder determines the prices. If you think it is too high then you can back off and think about the next car you want to bid for.
Consider the current financial climate, where individuals have over-extended themselves and are now in really bad financial shape. The banks have repossessed these vehicles because of the agreements that were in place but were not honoured. The chances of you finding a vehicle in good shape are very high.
The question is, where are these centres and how frequently do the auctions occur? It is very easy information to find. You will need to go to Absa’s website, www.absa.co.za. Once you are there, navigate to their auction centres section and there you will find all the information you need. From dates of upcoming auctions to the locations of the repossession centres.
Not only that but you can download the catalogue of the repossessed vehicles which will be on auction. This is great news for the following two reasons:
- You can browse the cars and see what you like ahead of the auction. You do not have to waste your time by going to the auction of the selection of cars is not up to your liking.
- You also have access to the catalogues from the other auction events. If you see a vehicle you like, and do not mind traveling a little bit, then you can head to one of these centres.
But it’s not all completely about the cars at the Absa repossessed vehicle auction events in South Africa. You also have access to sound financial advice even before you have bought your new vehicle.
These Absa repossession centres can offer you one of the following financial options:
- This is a very straightforward option.
- Absa will lend you the money for the car you want.
- You and Absa will determine the payback period based on the national FICA requirements and your financial status.
- This option allows individuals more freedom as it allows the individual the flexibility to change vehicles.
- This option allows you to drive one car for a period of time and then change to another without too much fuss.
- In addition, you are able to fix your costs for the duration of the agreement.
- At the end of the agreement, you have the option of being able to buy the vehicle.
- At the beginning of the agreement, you and Absa agree on a period of time which you will rent the car from them for and at no stage will you be the owner of the car
- The bonus of this option is that you do not need to concern yourself with the pitfalls that come with vehicle ownership.
- Once you are at the end of the agreement period you have three available options:
- Renegotiate for a further term
- Consider buying the vehicle
- Simply hand it back to Absa.
The Absa repossessed vehicle auction events in South Africa are very easy and a simple way to pre-select and consider vehicles as well as receive additional finance information if you so wish.