Cheap Capitec Repossessed Cars 2023 Under 40000 Prices

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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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Cheap Capitec Repossessed Cars 2023 Under 40000 Prices

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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.

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To find repossessed cars in South Africa, you can consider the following options:

  1. 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)
    On these platforms, you can typically find detailed information about the repossessed vehicles, including their make, model, year, mileage, and photos. You may also have the option to bid on the cars or make direct purchases.
  2. 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
    These auction houses provide information about upcoming auctions, including the vehicles available and the auction dates and locations.
  3. 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.

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

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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

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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…

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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.

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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…

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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…

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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…

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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…

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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

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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

Super Price

Bank repossessed Toyota quantum GL machine in very good condition and full-service history accident-free. Nothing wrong with the. Affordable price. Good for…

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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

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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…

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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…

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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…

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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

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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

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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…

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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

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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

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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,

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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…

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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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New8 hours ago

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

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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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