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Absa repossessed cars under 40000 | Absa bank repossessed cars with prices 2022 | How do I buy a repossessed car in South Africa?

thiszmenasog
August 13, 2022 2 Mins Read
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Absa repossessed cars under 40000 | Absa bank repossessed cars with prices 2022 | How do I buy a repossessed car in South Africa?

Absa repossessed cars under 40000 | Absa bank repossessed cars with prices 2022 | How do I 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

How are repossessed cars sold?

In many cases, banks will try and assist in helping the client make good on their commitments, but after a certain period the car is repossessed, and once the financial documents have been completed, the car is put up for sale via auction

How do you buy cars from Absa?

To buy from an Absa-approved dealer, all you need to bring is:
  • Your SA ID book or smart card or your passport.
  • Proof of income.
  • Proof of residence.
  • Your driver’s license.
  • Copy your NaTIS document, if the vehicle you are trading in is paid up.

Need more help?

Let one of our consultants help you get the best vehicle finance for your needs.

Call us on:

0860 669 669

Call Islamic Car Finance on:

0860 000 786

With Absa Vehicle and Asset Finance, you can experience that new car smell
We offer great new car deals on a selection of new cars. Don’t miss out! Find out more about our latest new car offers and deals.

How do car auctions work in South Africa?

You can buy either by way of a closed tender or at an open auction. You send your offer to the auction house in a sealed envelope. All the sealed offers are then placed in a locked box. At an agreed time on the day of the tender, the box is opened and the car sold to the highest bidder.

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