Absa Bank repossessed cars for sale in South Africa are either sold at public auctions or through a closed tender. So how do you buy one of these vehicles? All you have to do is contact your nearest Absa Trade Centre and see what they have to offer.
Before you buy Absa repossessed cars consider these 4 points:
- Repossessed cars are bought “As is”
- You pay a deposit at the auctions
- Apply for Absa vehicle finance beforehand
- Have a set budget to buy your car
You can get deals on a number of vehicles as Absa has a wide variety of makes and models to choose from. What is more is that expert consultants support each sale and they provide easy financing options.
Currently Absa has five trade centres in South Africa. Situated in Bloemfontein, Boksburg, Durban, Milnerton, and Port Elizabeth.
This means that no matter where you are in South Africa, you will be able to buy Absa Bank repossessed cars for sale.
You may also be interested in: Standard Bank Repossessed Cars Sales
So why Absa Bank repossessed cars over any other bank?
Because Absa is a leading financial service provider in South Africa. This means that they have the largest quantity of repossessed vehicles in the country.
So now you have got the list of vehicles that are on offer and there is a car that you are keen on, what happens next?
Firstly you have to register with one of the Absa trade centres. Once registered, you can attend the auctions that are usually held by auction houses such as Aucor and Burchmores.
However there are certain things that you need to be aware of before attending one of these auctions.
All Absa Bank Repossessed Cars Come as is
This means that any car you purchase at one of these auctions is sold as it is on the show room.
For example, if you purchase a car and find out afterwards that there is an electrical fault with the vehicle. Then the responsibility to get it fixed lies with yourself.
As a way in which to combat these nasty surprises, it is always advisable to take an auto electrician. Or an auto mechanic to inspect the vehicle before you bid on it.
This way you will be able to negotiate on the price the vehicle is being auctioned off at. If you find a serious fault which the auctioneers were not aware of.
You are required to pay a deposit at the auction
You are required to pay a deposit on cars purchased at auction in order to secure the vehicle.
Unlike normal car purchases where you can buy a car through vehicle finance without a deposit.
Secure vehicle finance before attending
If you require vehicle finance, it is advisable to get approval on finance before you attend the auction.
Because should you be the winning bidder, you are required to purchase the car.
This means that should you thereafter apply for finance and it be denied, it is your responsibility to find the money.
Go in with a set budget
The reason these vehicles are on auction is because the previous owners could no longer afford to pay for their repayments.
This is usually because these people purchased beyond their means.
You do not want to find yourself in that very same position. So make sure that you attend an auction with a set budget and do not go over it.
The car auctions can be very exciting and many people have found themselves caught up in bidding wars. Thereafter realised that they do not have the money to purchase the vehicle.
We have learnt that it’s quite a simple process to buy a car from a vehicle auction.
Follow the points we cover above and you will be able to buy a vehicle at one of these events.
So check the Trade Centres to see the latest selection of Absa Bank repossessed cars for sale currently in South Africa.