What is a Repossessed Car?
Repossession happens when your lender or leasing company takes your vehicle away because you’ve missed some payments on your loan or lease—and it can occur without warning if you’ve defaulted on your auto loan.
Where Can I Buy Repossessed Cars In South Africa?
Cresta Car Centre
Address: 246 Beyers Naudé Dr, Blackheath, Randburg, 2195, South Africa
Hours: Closes soon ⋅ 5:30 pm ⋅ Opens 8 am Thu
Phone: +27 11 568 3473
USED BANK REPO CARS SOUTH AFRICA
Address: 2 Kruger Ave, Estoire, Bloemfontein, 9323, South Africa
Hours: Closes soon ⋅ 5:30 pm ⋅ Opens 8:30 am Thu
Phone: +27 63 408 5880
Lisabank Repossession Warehouse Edenvale
Address: 9 Greenvale Rd, Rietfontein 63-Ir, Germiston, 1609, South Africa
Hours: Open ⋅ Closes 6 pm
Phone: +27 11 450 4066
MyCars.co.za
Address: 24 Garsfontein Road Shop LL 75, Parkview Shopping Centre, Moreleta Park, Pretoria, 0044, South Africa
Hours: Closes soon ⋅ 5 pm ⋅ Opens 8 am Thu
Phone: +27 86 172 2277
How to buy a repossessed car in South Africa?
To register for a repossessed car auction, you need to put down a deposit of between R5,000 and R7,000, which is refundable if you don’t buy a car during the auction.
If you are a South African, you need to provide the auction house or the bank with proof of residence and a copy of your identity document.
Is it good to buy bank-repossessed cars in South Africa?
Repo vehicles are more affordable in comparison to a car you may find at a dealership. This is because as the consumer, you are buying the vehicle “as-is”. This means you will need to deal with any repairs or issues you get from the vehicle.
How many cars are repossessed in South Africa?
The present rate of repossessions are said to be between 5000 and 7000 per month nationally, between all the banks.