Finance your Car
Buying a repossessed vehicle at an auction can be a thrilling experience. On the plus side, cars are offered at wholesale prices and you can get a fantastic deal if you have done your homework before bidding. On the down side, all cars are sold as “voetstoots”, which means no guarantees or warranties apply. However, if you are able to spot a good deal, you can drive away with a great bargain.
A list of repossessed vehicles can be obtained two days before the sale or by contacting the relevant Repossession Centre for details. Click here to see upcoming auctions in your area.
- Register as a buyer before the auction starts
- Pay a refundable deposit of *R5 000 in the form of a bank guaranteed cheque or confirmed electronic transfer. *This amount may vary depending on the auctioneer
- Receive your number that enables you to participate in the auction process. Now you are ready to bid.
- It’s a good idea to decide what vehicle you would like to buy and set a budget before attending an auction. (Don’t forget to include costs and VAT as the bid price generally excludes VAT, unless announced by the auctioneer)
- Do your research and compare prices on vehicles
- Attend an auction
- Once you’re familiar with all the procedures of an auction, go to an auction to bid on your dream car
- Before the auction begins, look at all the vehicles and thoroughly inspect those that interest you. The cars are on display in the auction centre the day before and on the morning of the auction
- Select two or three vehicles that you are interested in so that you have a choice when bidding
Smaller regions have an auction every month, bigger centres like Gauteng have auctions bi-weekly. Check out upcoming auctions in your area now.
Are you a first-time bidder? No problem, this is what you’ll need to take with:
- A refundable deposit of R5000 is payable on day of registration at a public auction. This amount may vary depending on the auctioneer
- Only bank-guaranteed cheques and confirmed electronic transfers will be accepted as payment. No cash will be accepted
- A copy of your identity document
- Proof of physical address
In the event of a legal entity being the purchaser (e.g. company, trust or close corporation) a copy of the trust deed, articles of association or similar document indicating the beneficiaries, trustees, shareholders, directors or members is required.