Repossessed car auction lists are available online and from the associated banks in the week preceding the auction. The number of auctions has increased as the financial recession has meant that many more people are unable to make their car repayments. This means that there is the potential to get pre-owned vehicles at prices so low that they are almost wholesale prices. Bank repos come in a variety of shapes and sizes as well as a variety of conditions. So whether you attend a Wesbank, Aucor or Burchmores auction make sure that you have a look at the vehicle you are interested in before making any offers.
Look in your local newspaper to find repossessed car auction lists. The details of the venue, times and types of vehicles for sale are provided in these advertisements. Often you can view the cars on offer a day before the auction so that you can go there with a clear idea of what you are interested in and so that you can approach the banks on site about any finance you may need. Many of the auctioneers require that you put down a deposit before the bidding process begins so that they can hold you responsible for the rest of your purchase. Bank repos are often very cheap, but they are sold as is so here are some tips to help you to make the best choice possible.
First, have a look at the mileage of the vehicle. If it is very high it is likely that the vehicle has been used a lot and may have several other problems that you are not able to anticipate at the sale. Secondly, have a look for any evidence that the car has been involved in an accident. Third, try to find out if there is any sort of warranty left on the vehicle that will allow you to take it for the necessary service or repairs. If you are interested in cars for sale for cheap prices keep an eye out for repossessed car auction lists.