You can apply for repossessed car finance at bank auctions; you do not have to go there with your bank account already bulging. However, if you have your heart set on a vehicle you want to purchase, take money with you in case you are unable to borrow money from Wesbank, Standard Bank, Absa or Nedbank while at the auction. They normally have the option of applying for finance at the repo event itself so that if you don’t have enough money for a vehicle you want you could always apply for the rest of the finance so that you are able to purchase the car.
Every time you visit an auction you should be prepared in case you need to apply for repossessed car finance at bank auctions. This means that you should take with you your identity document, pay slips, and whatever else you think they might need if you want to borrow money from Standard Bank, Wesbank, Nedbank or Absa while you are there. Many people do this because there are great bargains to be seen at auctions like these, so you don’t want to let the opportunity slip just because you are a few hundred short of getting a car you have always wanted at a discounted price.
If you are looking to invest in another car, whether it’s a gift for one of your children, spouse or you just need an extra vehicle, bank repossession auctions are the best place to look for good deals. The only thing you have to be careful of is not getting there in time or being outbid, so make sure you have the funds and don’t go too high; if you know you can’t afford it, rather let it go and wait for the next deal to arise. To apply for repossessed car finance at bank auctions is convenient, but be careful to not get carried away.