ABSA repossessed vehicle auctions are worth visiting if you are looking to buy cheap cars. One of the leading banks in South Africa offers the option that allows you to avoid car dealers and get the car you want at a good price. Repossessed, or “repo” cars, have a reduced price because they are used to offset debt.
There are certain things you’ll need to purchase a vehicle at ABSA repossessed vehicle auctions. You will need a valid South Africa Identity document (ID) (preferably a certified copy), proof of your physical address and the proposed registration fee or deposit that you will be able to put down. If you have these then you can start bidding and drive away in the car of your dreams for an affordable price.
The only trouble with repo cars is that they are sold as they are without any guarantee, or as we say in South Africa “voetstoets”. This means that if something does go wrong with your car, you will have to pay for it. So when you consider buying the car, its best to have a look at the distance it has travelled, and the year it was first introduced into the market.
But it’s not all bad. One of the positives of buying through the bank is that you can apply for vehicle finance. This finance is suited to your individual needs and budget which means that you will not have to worry too much about paying the whole car off immediately. Unlike most car dealers, ABSA is a large business, which could mean that you could get more appealing rates and security that your repayments will be complete after a certain period of time. So if you’re in the marketto buy a new car, get down to ABSA repossessed vehicle auctions and start bidding now!
How to Win the Bidding at a Car Auction
How to win the bidding at a car auction can said to be both an art and a science. Should you however be a first timer at an auction, here are some tips that you can keep in mind when you attend an auction. Firstly, some vehicle auctions hold a mock auction before the actual event is held and this can be very helpful to those of you who have never been to an event before. Once you have the swing of things and feel comfortable enough to attend the actual auction then you next piece of advice is to determine when you think the best time to enter a bid is. If auction of the vehicle that you would like to purchase has started an no one seems interested, then it may be advisable to start the bidding. Alternatively, you can enter the bidding at a later stage depending on how much you want to spend and how active the auction of the particular vehicle is.
There are also other factors when determining how to win the bidding at a car auction. Taking the vehicle home does not necessarily mean that you have won. Should you have spent more on a car than you had planned does not mean that you have won. The true winner at a car auction is the person who gets to take ownership of the car at the best deal possible. It is therefore imperative that when attending an event that you go in with a set amount that you are willing to spend and know all that you possibly can about the vehicle before you even think of raising the paddle to bid.
Many auction houses allow potential bidders to view the vehicles before the auction and this is a good place to determine how much you are willing to spend on the vehicle. It is also generally a good idea to take someone with you to view the car if you are not the most car savvy person. Therefore it can be said that there are a lot of factors which determine how to win the bidding.