2024 car auctions offer a wide range of reliable cars for sale at affordable prices. So it is no wonder that more people in South Africa are buying a vehicle on auction this year. When buying used or new cars people typically approach dealerships. Without considering the bargains that can be found at a bank auction.
However in recent years South Africa is catching on to buying cars at vehicle auctions. Last year thousands of vehicles were on sale at events open to the public. To businesses and to car dealerships. This year will almost certainly be no different.
Why Buy Cars For Sale at 2024 Car Auctions?
Because many of the 2024 vehicles sold on auction have been repossessed by banks and other lenders.
Cars come under repossession when the previous owner defaults on payments or violates the terms and condition of the car finance loan.
These cars often sell for very good prices. Because the bank is not concerned with making a profit. Rather they want to sell the car off as quickly as possible to make up for any losses incurred.
This means that you are essentially buying a car that has already been paid for in portion.
How do I know I am buying a reliable car?
However, you can assume you are buying a reliable car if you have done through research on the vehicle beforehand.
Before the auction you need to get a list of the vehicles being sold to decide which car or cars you are interested in.
Once a vehicle catches your eye you need to compare the asking price with the market price of similar vehicles. If the car is selling for a lot less on auction you know that you are getting a good deal.
When you go to an auction to buy a vehicle, get there early. So that you can fully inspect and examine the model you want to buy.
If cars are not your thing then bring along a mechanic. Or someone who is very knowledgeable about what you should look for under the hood of the car.
Also check the cars interior and exterior for any damage or flaws. Which decrease the value of the vehicle and may not make it worth your while to purchase.
If you are looking for a reliable car, the newer the car the better. Because many of the vehicles sold on auction are cars that have been repossessed. Some of the cars can be on the newer side as the owners are still paying them off.
If you need financing for your purchase, the major banks usually have a stand at the auction venue. To assist you with on site financing for your purchase.
Where were Vehicles Auctions Held Last Year?
Most of the venues used last year are still valid for 2024 car auctions
- Alberton Auctions through Imperial Auto Auctions
- Midrand Autoworld Car Auctioneers host vehicle auctions
- Boksburg Absa repossession auctions held regularly
- Sandton Burchmores auctions every Saturday and Thursday
- Midrand Auctions hosted by Aucor every Saturday
- Cape Town car auctions events are regular
- Durban has vehicle auctions
For further information about vehicle auctions. And when and where they will be happening you can contact any of the major vehicle auctioning companies. Such as Burchmores or SMD Auctions.
If you are looking for repossessed vehicles, you can also contact the major banks (First National Bank, Absa, Nedbank and Standard Bank) directly. To ask what vehicles they have available and when they will be sold.
In Summary of 2024 Car Auctions
Auctioneers sold a lot of reliable cars for sale last year in South Africa. So 2024 is your year to give auctions a try if you haven’t already.
Remember that you need to register to bid before the auction. And usually make a refundable deposit of R5000 with a bank guaranteed cheque or credit card.
Once you are at the auction remember your budget and keep your head about you. But also have fun in the exciting auction atmosphere!
There are a range of bank car repossessions for sale at 2024 car auctions. So it’s worth having a look at models available online and at offline events this year.
You can get further information from a company such as Aucor car auctions by visiting their website here.