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Repossessed cars, also known as “repo cars,” are vehicles that have been taken back by a lender or financial institution due to the borrower’s failure to make loan payments.
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In South Africa, repossessed cars are commonly sold through auctions or specialized dealerships.
These vehicles can offer potential buyers an opportunity to purchase a car at a lower price compared to the market value.
To find repossessed cars in South Africa, you can consider the following options:
- Online platforms: Several websites and online platforms in South Africa specialize in listing repossessed vehicles. You can search for terms like “repo cars South Africa” or “repossessed cars for sale” to find these platforms. Some popular websites include:
- MyCars.co.za
- RepoDepo.co.za
- Repo.com (also lists international repossessed cars)
- Auctions: Many repossessed cars in South Africa are sold through public auctions. These auctions are often held by specialized auction houses or financial institutions. You can check websites of auction houses such as:
- Aucor.com
- Burchmores.co.za
- Banks and financial institutions: Some banks and financial institutions in South Africa have their own repossessed car departments. You can directly contact these institutions to inquire about any repossessed vehicles they may have for sale. Examples of such institutions include ABSA, Nedbank, and Standard Bank.
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When purchasing a repossessed car, it’s important to carefully inspect the vehicle’s condition, history, and documentation.
Most repossessed cars are sold “as is,” meaning there may be no warranty or guarantees provided. It’s advisable to have a mechanic or automotive expert inspect the vehicle before making a purchase.
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Additionally, be aware of the terms and conditions of the sale, such as payment methods, deposit requirements, and any associated fees. It’s also essential to do your research and compare prices to ensure you’re getting a fair deal.
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Please note that the availability and process of purchasing repossessed cars in South Africa may vary, and it’s always recommended to contact the respective platforms, auction houses, or financial institutions for the most up-to-date information.
Hyundai i20 2015, manual, 1.2 liters
Bishop, Eastern Cape Interior
R 65 000
Super Price
Bank repossessed car, one ownership straight from the dealership, nationwide delivery cash or Bank finance accepted
Toyota land cruiser 2015, manual, 4.5 liters
Victoria West, Karoo
R 289 000
Good Price
Bank repossessed Toyota land cruiser 79 4.5 (2015) for sale. R289 000.00
2 days ago
Hyundai h-1 2016, automatic, 2.5 litres
Saldanha, West Coast
R 80 000
Good Price
hyundai h-1 2.5 vti bus elite for sale ready for transportation bank repossessed vehicle contact john
30+ days ago
Toyota Runx Bank repossessed car 1.4rs manual 2008
Polokwane Pietersburg, Limpopo
R 50 000
Super Price
Are you still looking for a Toyota Runax Rsi in good condition and full-service history of accident-free? Call me for more information. The vehicle is it…
2 days ago
Volkswagen golf gti 2007, manual, 2 liters
Ermelo, Highveld Grass, and Wetlands
R 35 000
Used bank repo cars for sale white VW golf 5 gti2.0 in immaculate condition paperwork in order, nothing wrong with the car it’s a bank repossessed vehicle.
30+ days ago
Toyota Avanza Bank Repossessed Car 1.5 Manual 2017
R 100 000
Fair Price
Avanza 7seater is good for business or family cars. bank repossessed car Very fresh and clean Good condition and full-service history accident-free. all papers…
1 day ago
Hyundai h-1 2017, manual, 2.5 liters
Butterworth, Eastern Cape Interior
R 150 000
Super Price
Bank repossessed car Hyundai h1 2017 model 2.5lt, leather interior touchscreen radio, tow bar, air conditioning, reverse camera, nationwide delivery cash or…
30+ days ago
Toyota avanza bank repossessed car 1.5 sx manual 2018
Polokwane Pietersburg, Limpopo
R 120 000
Fair Price
Affordable price Toyota Avanza Excellent condition accident-free Bank repossessed car. 7seater good for business or family car All papers available. Call me…
1 day ago
Toyota Hilux 2016, manual, 2.4 liters
Eastern Cape
R 100 000
Super Price
Bank repossessed car Toyota Hilux 2.4lt gd6 4×4, touchscreen radio center locking leather interior air-conditioned nationwide delivery cash or bank finance…
2 days ago
Hyundai i20 2016, manual, 1.2 liters
Caledon, Grabouw to Swellendam
R 42 500
Hyundai i20 motion for sale super clean start and go in showroom condition bank repossessed
30+ days ago
Toyota Quantum Bank repossessed car 2.5 gl sesifikile manual 2018
Port Elizabeth, Port Elizabeth, and Nelson Mandela Bay
R 199 500
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Bank repossessed Toyota quantum GL machine in very good condition and full-service history accident-free. Nothing wrong with the. Affordable price. Good for…
1 day ago
Toyota Corolla 2017, manual, 1.6 liters
Krugersdorp, West Rand
R 44 000
2017 Toyota corolla quest 1.6 autos in excellent condition bank repossessed vehicle
30+ days ago
Volkswagen polo bank repossessed car 1.6 gts manual 2017
Cape Town, Western Cape
R 65 000
Are you looking for a polo gts bank repossessed car? Affordable price. Very good condition and full-service history accident-free. Nothing wrong with the…
1 day ago
Toyota Avanza 2018, manual, 1.5 litres
Adelaide, Eastern Cape Interior
R 80 000
Super Price
Bank repossessed car Toyota Avanza, cloth interior electric windows electric mirrors power steering air-conditioning. Tow bar one ownership, no any machinic…
30+ days ago
Toyota Corolla Bank Repossessed Car 1.4 Manual 2018
East London, East London to The Wild Coast
R 125 000
Hi, I’m selling a Toyota corolla prestige In good condition and full-service history accident-free Nothing. Nothing wrong with the vehicle. All papers are available…
2 days ago
Kia Rio 2014, Automatic, 1.4 liters
R 30 000
2014 Kia Rio v 1.4 tec hatch auto for sale in Krugersdorp affordable bank repossessed vehicle
2 days ago
Hyundai accent 2017, Automatic, 1.6 litres
Klerksdorp, North West
R 33 000
2017 Hyundai accent v 1.6 fluid auto for sale in Klerksdorp affordable bank repossessed vehicle in excellent condition
30+ days ago
Audi a4 bank repossessed car 2.0 TDI automatic 2015
Mokopane Potgietersrus, Bela Bela and Bushveld
R 135 000
Good Price
Very fresh and clean. Bank repossessed car. Good condition and full-service history accident-free. Nothing wrong with the vehicle. All papers are available. Call…
2 days ago
BMW x1 2016, Automatic, 2 litres
Saldanha, West Coast
R 61 000
BMW x1 for sale in immaculate condition full-service history bank repossessed showroom condition ready for auction
30+ days ago
Toyota 2.5 Manual 2016
Delmas, Highveld Grass, and Wetlands
R 255 000
2016 Toyota Dyna excellent condition bank repossessed vehicle price r255000
1 day ago
Volkswagen polo 2014, manual, 1.4 litres
Eastern Cape
R 70 000
Super Price
Bank repossessed car, polo Tsi 2014 model 1.4lt, electric windows air-conditioned power steering, cash only nationwide delivery. One ownership,
30+ days ago
Volkswagen Golf 7Gti 2.0tsi Dsg Automatic 2017
Kimberley, Kimberley, and Diamond Fields
R 144 990
Bank repossessed car, available for viewing, excellent condition, full-service history, accident-free, all papers are in order, finance can be arranged, for…
1 day ago
Ford Windstar 2017, manual, 3 litres
Aliwal North, Eastern Cape Interior
R 300 000
Bank repossessed car, Iveco quick deliver cloth interior power steering, nationwide delivery cash or Bank finance accepted
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Toyota Altezza 2006, manual, 1.4 litres
Eastern Cape
R 35 000
Super Price
Bank repossessed car Toyota Tazz, in good condition accident-free paper in order, one ownership, only cash, please
How do I buy bank-repossessed cars 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.
Are repossessed cars cheap in South Africa?
Now, you may have heard that the purchase price for repossessed cars is affordable, and that’s true. 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”.
What happens to bank repossessed cars in South Africa?
Once a car has been repossessed in South Africa, it falls under the responsibility of a creditor who will send it to an auction house to be sold in order to cover the outstanding amount owed by the initial owner.
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How many cars are being repossessed in South Africa?
The present rate of repossessions are said to be between 5000 and 7000 per month nationally, between all the banks.
Multiply that by 12 months and it equates to the car and finance market losing 60,000 to 84000 clients per year. The problem with most defaulters is that they suffer from “ostrich syndrome”.
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