The cost of bank vehicle repossessions differs between banks with FNB repossessed cars prices being no different. The fees vary depending on a range of factors. Here we examine what affects the selling price of the First National Bank repossessed cars for sale and why they're valued at these amounts. FNB (First National Bank) is one of the major banks in South Africa. It is a subsidiary of FirstRand Limited, one of the largest financial services groups in Africa. As is the case with the major banks FNB offers car finance to customers that qualify. However a percentage of vehicle buyers default on their repayments. So the bank has no option but to repossess these vehicles and sell them at auction to recover costs. This may also be of interest to you: Wesbank Weekly Auctions and Vehicle Catalogues How FNB Repossessed Cars Prices Amounts Are Calculated Amounts for the vehicles…

Where do you get a repossessed car list of vehicles for sale in South Africa? And what bank repossessions can you buy at car auctions? If you are looking for an inventory of bank repo motor vehicles then look no further. We discuss the online catalogues on offer listing bank repo vehicles that are available for you to buy. The banks in South Africa are having to reclaim large quantities of vehicles each month. Because people are in arrears on their finance repayments or not able to pay at all. Repossessed car lists that let you browse the lineup of vehicles: Absa repossessed car list Standard Bank repossessions Nedbank repossessed car list FNB repossessed car list One reason people have their cars repossessed by banks in the country is because people have sadly lost jobs and businesses. As heartbreaking as this is for some it does present an opportunity to…

Knowing the banks selling repossessed vehicles at auctions in South Africa can help you buy cars at wholesale prices. If you are interested in buying a second hand car it is a good idea to know which banks sell repossessions. So that you can make a wise choice on your vehicle purchase. Four Banks Selling Repossessed Vehicles There are quite a few banks that offer repossessed cars and other vehicles for auction. However four that are well known for their good service are: ABSA Standard Bank Nedbank (MFC Auctions) First National Bank All four of these banks are long standing and reputable. And have a large amount of satisfied happy customers. They are big financial corporations with many customers and a lot of business. In today’s fast paced ever changing world everybody seems to be on the go all the time. We all have obligations and things to do. And…

What do you do when you’re looking for a new or used car? Visit the local dealerships? Browse the Gauteng classifieds like Junk Mail? Have you ever considered buying a vehicle at an auction? Auction buys can often yield great deals, but with reward does come some risk. If you choose to buy at one of these events you need to be a savvy shopper and business-minded bidder to take advantage of the Gauteng vehicle auction market. Auction vehicles are often those that have been repossessed by the bank because the previous owner defaulted on loan repayments. The advantage of buying repossessed vehicles is that you can often get them at very good prices. When the bank reclaims and auctions off a vehicle, they are more concerned with covering any losses than making a profit. This means that if the car was almost paid off, a good one can sell…

Buy cheap accident damaged cars at vehicle auctions in South Africa. These vehicles can be bought at well below dealership prices and among popular accident damaged cars for sale are: Smashed Toyota cars & bakkies Smashed BMW's Accident damaged Fords Smashed VW Polo's Damaged Isuzu bakkies Auctions are an increasingly popular way to buy new or used vehicles. Because you can find cheap deals on cars that would sell for almost double the price at a dealer. Why is this? Cars on auction often go for lower price tags than private or commercial sales. Because they are vehicles that have been repossessed by the bank or they have been in an accident. This may also interest you: Nedbank Repossessed Cars for Sale in Gauteng Cars that have been in damaged in an accident are often known as “salvage vehicles”. A salvage vehicle also refers to a car that has been…

Finding bakkie bargains at repo dealers is not too difficult. You simply have to look at a variety of different dealerships and keep up to date with the vehicles they have coming in. There may be several months where there are no bargains but there will be a great deal before long if you keep looking and don’t give up. It is important, however, that you make sure that the vehicle you are thinking of buying is actually a bargain and does not have some hidden flaws or faults. Make sure you do a thorough inspection and make sure that you purchase the vehicle through a reputable seller. What is a repossessed bakkie? When the average individual purchases a vehicle, they will usually have to find financing from a financial service provider (usually the bank) in order to pay for it. If a financial service provider approves their vehicle loan,…

If you are interested in buying a vehicle at a decent price, you should think about visiting vehicle repo and liquidation auctions. An auction is a great place to find vehicles at really good prices. You may find some vehicles that are worse for the wear, but sometimes you will find a still new, great quality vehicle for a very good price. Repossessed vehicles and vehicles that are the product of liquidation are often really good buys. It is a good idea to find out where the closest auctions of this kind are taking place and to consider checking them out. What is a repossessed vehicle? When most people try to buy vehicles, they realise that they will have to get financing from a financial service provider in order to purchase and pay for the vehicle. Most reputable financial service providers will want to see two things before they will…

You might be in perfect control of your finances right now, but you can never predict what will happen down the line, and at some point, like so many people around the world, you may find yourself in over your head with debt. If this happens, you must be prepared for any eventuality. If you are already battling with debt and worried that your car may be repossessed, it is even more essential that you find out all the details and information you can NOW so that you can take action to remedy your situation and perhaps salvage your vehicle and any other assets that you may own. How does repossession work? When an individual applies for a loan to finance their vehicle from a financial service provider, the financial service provider will usually want to see two things before approving the loan: they will want to know that the…

Because vehicles are so expensive, and because it is absolutely essential that everyone has reliable transport to get them from A to Z, buying a repossed vehicle is one of the best routes to take. There are a number of reasons that government seized vehicles are great buys. It is necessary to know exactly what you are looking for and to set a reasonable budget that you can stick to. It is also necessary to understand what government seized vehicles are and how the process of purchasing them works.   What is a government seized vehicle? The government will seize any possessions (including property, vehicles and other items) from any individual who has committed a serious crime and been convicted and sentenced to jail time. They will also repossess vehicles and property when the owner has failed to make their loan repayments on the loan that financed the property or…

The Nedbank repossessed cars for sale in the Gauteng region can be bought at decent prices. These vehicles are repossessions that Nedbank has had to reclaim because of clients defaulting on payments. Buying a vehicle from this financial service provider can save you money on your new wheels. Nedbank repossessed cars are for sale in these areas of Gauteng Johannesburg Pretoria Kempton Park Germiston Sandton Centurion Most people who buy vehicles want finance from financial service providers. If a financial service provider, like Nedbank, First National Bank, Standard Bank or Wesbank, approve the loan to finance the vehicle, the individual will then sign an agreement. To pay a monthly loan repayment with interest to the provider. This may also interest you: 4 Banks Selling Repossessed Vehicles As we all know financial circumstances change. Should the individual who has taken out a loan to finance a vehicle lose his or her…