Repossessed cars for sale

Repossessed cars are a misfortune to the owners who got their cars repo’d. One would ask so what’s the craze over Repossessed cars for sale? Basically we can say that there are about over 2000 repossessed cars in South Africa on average per day. It is alarming to see that the numbers seem to increase annually, these cars are usually repossessed by banks that have noticed that the creditor has missed payments/installments for 3 months or more resulting in them spontaneously repossessing the car they leased.

Most of these Repossessed cars for sale will be auctioned for resale in any case if you cannot make the payment they rather be sold to people that can afford them. At the auctions these cars are usually cheap as the banks or the dealership would have made their profit a while ago from the customers installments of which balloon payments are what make people sweat over the long-run. Many flock to go and bid for these Repossessed cars for sale as they come at the fraction of the cost.

People that would most likely auction Repossessed cars for sale are SMD and Wesbank, a lot of makes and models of cars would be available at your disposal should you be looking to buy cars on auction.

For more auction news read: Auctions in Cape Town