Absa bank repossessed cars list 2022| Cars repossessed from Absa bank Sales 2022,Cars repossessed from Absa, Standard Bank and Nedbank in South Africa for those looking to buy a pre-owned vehicle. Are sold off at auctions through companies such as Birchmores in Durban, Cape Town, Johannesburg and other areas around the country.
Auctions selling Absa Bank vehicle repossessions offer:
- Cars
- Bakkies
- Caravans
- Trucks
- Motorcycles
- Fleet Vehicles
This means a growing market for repossessed vehicles that are sold for pocket-friendly prices. In South Africa, over 1200 cars are repossessed every month. Because people can no longer afford to pay for their cars.
Where can I find cars repossessed by Absa Bank?
Buying a repossessed car sounds like a deal but where can you find these auto-trophies? Luckily there are a number of ways to get yourself behind the steering wheel of an excellent car deal. With Absa Bank repossed cars sales.
Repossessed cars are usually sold by auction. Through auction houses situated in the major cities of Durban, Cape Town, Port Elizabeth, and Johannesburg. As well as at a number of other regions around the country. These vehicles are available for both private and public sale. To find vehicles on auction, enquire at Aucor or Burchmores, as these agents usually auction off repossessed vehicles on a weekly basis in major cities.
To find cars online, ajirampyaleo.com is a great resource with a section specifically dedicated to cars that have been repossessed by Absa. Here you can view a vast range of vehicles. And refine your search selection to a particular make or other specifications. My Cars can be found at https://ajirampyaleo.com/
You can contact Absa Bank to find out what lists of vehicles are available and where they will be auctioning them. Via telephone or email. You can also visit your local branch in person and ask an employee where repossessed vehicles will next be selling in your area. The bank may also be selling vehicles privately.
7 Tips on What to do When Attending a Absa Bank Cars Repossessed Vehicle Auction
Tip #1. Find an auction
The first thing you need to do is find a public auction which is to be held in your area. You can do this by looking for notices in your local newspaper, asking car dealerships for in formation regarding any upcoming vehicle auctions. Or you can check on the Internet as well.
Should you be unable to find an auction site in your area, then you could attend an online one.
Tip #2. Have the cash to pay for your purchase
There are cases where auction houses will offer financing to vehicle purchasers. But usually, you are required to pay immediately.
If your bid is the highest, you will be required to put down a deposit for your vehicle on that particular day. Which could be in the region of 25% of the price of the car.
The balance is usually paid to the seller within 24 hours of purchasing the vehicle. Either in cash, by using a credit card, or by means of a cashier’s check.
Tip # 3. Do a defect inspection
Unless you are a mechanic, or you know enough about cars, it might be a good idea to take a qualified mechanic with you. To check for any defects or damage which you might not notice, such as corrosion, leaking fluid. As well as damage through collision.
Auction houses usually give bidders some time. Which could be an hour, or a day, to inspect the vehicles that they are interested in.
Tip #4. What you see, is what you get
You must remember that you are purchasing the vehicle in its present condition. Because of this any defects that are found by your mechanic will have to be overlooked by you.
If you feel that these defects are too many, then it would be a good idea to simply look for another vehicle. Because those defects become your responsibility as soon as you have bought the car.
Tip #5. Find out the vehicle’s history
Do an online research about the vehicle’s identification numbers in order to obtain it’s history.
You can do this and get the information sent to you instantly, if you have a mobile device. This report will tell you if the car has been salvaged at any time, received flood damage, or has been rebuilt.
It will also tell you whether or not the airbags have been used. Whether that model has ever been recalled, or if the odometer has been tampered with, to show less mileage.
Tip #6. Establish how much you are prepared to pay
If possible, bring along an Edmunds Guide or a Kelley Blue Book, in order to find out the value of the vehicle. If you have enough time, then do some online research as well.
Tip #7. Decide what you want to pay, and stick to it
Once you have decided what you are willing to pay for the vehicle, do not change your mind.
You must also remember that the auction house has to cover the cost of the auction. So the buyer’s premium will be added to the final price of the vehicle.
