Buying a bank repossessed bakkie is a great way to save money when buying your car. When people don’t make their repayments on time for many months, eventually the bank has to repossess their vehicle. Banks are thus in a hurry to recoup lost finances as soon as possible. The best way for SA banks to do this is to put the cars up for sale at auctions at discount prices. Banks like FnB, Standard Bank, ABSA and Nedbank are all involved in this type of process, so if it’s that double cab or single cab you’re after, this may be the most affordable route to follow.
It’s really easy to go about buying a bank repossessed bakkie if you have a little bit of finance at hand. You will need to have your credit record handy and a deposit which is determined by whichever of the banks is holding the auction. What is great is that SA Banks like Nedbank, ABSA, Standard Bank, FnB are often on site to offer you finance so that you can ensure that you have that little bit extra to get the vehicles of your dreams. All you need to do is start bidding.
You can get both single cab and double cab bakkies at affordable prices and yet they can be in wonderful condition. If you’ve never tried bidding in an auction before, it is extremely simple. Much like the movies, each person is allocated a marker that they can lift when they are interested in a particular car. There are some things to remember though. Bakkies sold at auctions may be cheap, but they are often sold as is, which means that if something goes wrong when you leave the shop floor, it is not the SA banks’ responsibility – it is your responsibility. Remember that taking out further finance may help, but not always. Sometimes you can get a good deal though when buying a bank repossessed bakkie.