South Africa car auctions and repossessed vehicle sales are growing in frequency and popularity. When people are unable to make their monthly repayments on their vehicles, or when the bank needs to repossess their property 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 slightly lower price than usual, 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.
In Gauteng, Durban and Cape Town people are looking for South Africa car auctions and repossessed vehicle sales to get the car they want. People are finding it increasingly difficult to buy first hand cars because of the ever increasing prices. Yet, when banks repossess a car, they need to get their money back as soon as possible, and 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 for a variety of 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 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 they are, and it’s more difficult to return them if they break. This is why the prices are lower at repossession auction events in SA.