Cape Town repossessed cars for sale include bank repo’s where you can get the affordable vehicle that you have always wanted. Or choose from a selection of bakkies if that’s what you prefer. These auctions are held in Cape Town that offer repossessed cars from banks which include FNB, Absa, Capitec, Standard Bank or Nedbank.
This is where people go when they need a vehicle but don’t have too much money to spend. Otherwise they might visit an auction if they want to buy a second vehicle. Or a low priced car for one of their children as a present.
You can contact the bank. So you can go to Absa, Capitec, FNB, Nedbank or Standard Bank. To find out when and where they will be selling Cape Town repossessed cars for sale at their auctions.
This may also be of interest to you: Wesbank Weekly Auctions and Vehicle Catalogues
You stand a good chance of finding an affordable vehicle at one of these bank repo’s. So expect to come home with a car and an emptier bank account.
If you are interested in buying a bakkie then you should enquire about if they have an auction selling just bakkies. There are always bargains to be found. But even if you walk away with nothing after the auction that’s fine. Because there will always be another time.
Cape Town Repossessed Cars by South African Banks
Vehicles repossessed by South African banks in Cape Town come in a variety of prices and conditions.
The cars are repossessed by the bank because the previous owner could not make their monthly payments on one or more of their assets.
So the result is cheap cars as lending institutions try to recoup lost funds at repo auctions.
Bank repossessed car auctions in Cape Town are run by companies such as:
- Aucor Bank Vehicle Auctions
- Bidvest Burchmores bank repossessions
- SMD Car Auctions
- Michael James Organization
Although these cars are pre-owned, it doesn’t mean that they are in bad condition. Many people have to give their cars back after only a few months. Which might mean that you get an excellent second hand vehicle at a much lower price than you would from a car dealer.
The people who attend repo auctions are those who are looking for a deal. They want cheap cars and are at the auctions to get them.
This also means that they start off the bidding at very reasonable prices so that people do not get scared off. The financial times have made people think twice about spending those extra pennies. And when it comes to buying pre-owned cars this is all the more obvious. People want second hand cars but they want them at low prices.
Vehicles can be inspected before purchase. And it’s always good to ask about previous accident history and mileage.
Cars at repo auctions are sold as is. Which means that if they are in poor condition and you don’t know about this before, the sellers are not liable to fix them.
That’s why it’s important to inspect a vehicle you want to bid for. Although these cars are cheap, this is only valuable if they actually run.
In summary when visiting car auctions of this nature you should always have a budget in mind. So that you don’t end up spending more than you originally planned.
Vehicle auctions are dangerous in that way. You always tend to see something else that you really like and end up having to make a decision between the two. Or if you can just take both!
Find repossessed cars for sale at Cape Town auctions in South Africa today so you don’t miss out on any bargains.