Repossessed caravans in South Africa, if you are researching where to buy a caravan repossession, you should look no further. Bank repo caravans can be found on auction by many of the same large auctioneering companies that sell repossessed cars, motorcycles, SUVs and other vehicles.
Why buy Repossessed Caravans?
Financial service providers in South Africa will often repossess goods from clients if they cannot or will not make their monthly loan repayments.
They will usually hold the goods for a short period, giving the client the chance to find the money to pay off the loan. If the client cannot come up with the money the financial service provider will pass the items on to an auctioneer to try to get some of their money back.
Buying a repossessed caravan can save you a lot of time, money and worry for several reasons listed below.
- Repossessed goods are often newer than other second hand items.
- Repossessions might still have service plans intact which will save you money in the long run.
- Repossessed caravans may have their warranty’s intact (for example a rust warranty) which would also save you money in the long run.
- Goods are sold on auction. Therefore the potential buyers decide what they are willing to pay for the item. Often, especially at second hand dealerships, goods will be marked up beyond their value. But at an auction there is no set price. You decide what you are willing to pay.
Buying repossessed caravans over a brand new or second hand caravan might save you time and money. As well as make the process easier, more efficient and less stressful.
Where to buy repossessed caravans in South Africa
Although there are huge number of auctioneering houses in SA selling cars and motorcycles, caravans are not as commonly found on the auction floor.
The best option in finding an auctioneering company that sells caravans is to look for the larger auction houses. One whose range of goods for sale is wider.
Some of the biggest auctioneering companies include well known companies like Aucor Auctioneers or Burchmores.
These two companies hold their auctions throughout the week on different days. They hold their events at different venues throughout the country including Bloemfontein, Durban, Cape Town and Gauteng.
Both Aucor and Burchmore put out catalogues listing all their goods for auction. It is wise to peruse the catalogue before hand to find any caravans that you might be interested in.
They also allow you to view the caravans for sale the day before the auction. You can make a thorough investigation of any of the goods they have for offer. Therefore you can be sure of the choice you are making.
Aucor and Burchmore are supplied by reputable and well known banks like ABSA, Wesbank, Nedbank and FNB. Who sometimes repossess almost brand new caravans.
Some well known types of caravan up for auction include:
Finance for a Repossessed Caravan
Buying even a repossessed caravan can be an expensive payment and many people require financial assistance to be able to afford these items.
The larger and more well known auctioneering houses, like Aucor and Burchmore, will make sure that all the major financial service providers are present at the auctions.
If you have a good credit record and proof of a steady income, you can discuss a loan with them then and there and have you financial assistance approved.
Caravan Buying Tips
The following tips offer good advice on how to buy the right repossessed caravan.
- Study the catalogues and visit the auction house the day before the event. To do a thorough inspection of any goods you might be interested in bidding for.
- Make sure that you are clear on the auctioneering process so that you do not make a bidding mistake on the day.
- Decide on a budget and ensure that you stick to it.
- If you need finance, come prepared with all the relevant documents.
- Use a reputable auctioneering house to avoid disappointment.
To summarize follow the tips and buying advice given above.
So you can be sure of buying repossessed caravans at the right price at auctions in South Africa.
Finally, make sure you only buy from reputable dealers and South Africa auction dealers.