You can find repossessed cars under R50,000 in South Africa at car auctions. If you were to stretch your budget and look for repossessions for sale under R100,000 you will have a lot more options. But if fifty thousand rand is your budget then there are vehicles available.
Repossessed cars under R50,000 can be bought at vehicle auctions in:
- Johannesburg (Gauteng)’
- Pretoria (Gauteng)
- Port Elizabeth (Eastern Cape)
- Durban (Natal)
- Bloemfontein (Free State)
- Kimberly (Free State)
- Cape Town (Western Cape)
South Africa car auctions and repossessed vehicle sales are growing in frequency and popularity. Largely due to people’s financial struggles because of the COVID pandemic.
When people are unable to make their monthly repayments on their vehicles. Or when the bank needs to repossess their wheels to balance out a loan often their cars are taken away.
Banks like ABSA, Nedbank, Standard Bank, and Wesbank and companies like Aucor and Burchmores are quite happy to sell vehicles. At a lower price than dealerships in order to make the money back that they need.
These types of auctions happen regularly across the country in Gauteng, Durban and Cape Town. Primarily in busy suburbs or the city centres.
Bank Repossessed Cars Under R50,000
So bank repossessed cars selling for under R50,000 are a little harder to come by. Unless you are happy to buy an accident damaged vehicle.
Dealers often buy these vehicles and have them repaired by panel beaters for re-sale at their locations.
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However older model cars that have been repossessed by the bank can also sell in the under R50,000 price bracket.
So if you are happy to buy a second or third hand car that is an older model and possibly has a high kilometer reading on the clock then you could be lucky.
Types of repossessed cars selling at auction under R50,000 include:
- Ford Fiesta
- VW Polo
- Chevrolet Spark
- Kia Picanto
- VW Chico
- Hyundai Atos
- Toyota Tazz
- Opel Corsa
- Renault Clio
Just because the older models may have high mileage doesn’t mean to say they are no good. Plenty of these cars are still in good running order.
Repossessed Car Auctions in South Africa
In Gauteng, Durban and Cape Town buyers are looking for South Africa car auctions and repossessed vehicle sales to get the car they want. At the price they want.
People are finding it increasingly difficult to buy new cars because of the ever increasing prices. So buying a decent car for under R50,000 is a decent price these days.
Vehicle auctions are organized by different auctioneers such as:
When banks repossess a car, they need to get their money back as soon as possible. So the price can be lower. Whether you bank with ABSA or Standard Bank or would prefer to buy at an Aucor or Burchmores auction. You will find a variety of cars at different prices to choose from.
This doesn’t mean that the cars you’ll get at ABSA, Nedbank, Standard Bank or Wesbank auctions will be any better or worse than one you’ll get from Burchmores or Aucor. It just means the prices will vary from one auction to the next.
This is why it is a good idea to attend one or two so that you can gauge which is in your R50,000 price range. It is not difficult to find out more information about each car before you decide to bid.
Remember that cars are sold as seen. Therefore it’s more difficult to return them if they break. This is why the prices are lower at repossession auction events in SA.
In summary we have learnt that repossessed cars under R50,000 are available in South Africa at a few different places.
Therefore it depends what is easiest for you as the buyer.
Have a look at the websites of the car auctioneering companies we mention. Because some of them have online car auction events at which you can bid online for some of the cheaper vehicles you may be interested in.