Repossessed vehicle finance can be applied for at most bank repo auctions, so when you are there and see a vehicle you like, you can borrow money for it. You can be attending an auction held by any one of the banks; Wesbank, Nedbank, ABSA and Standard Bank all have these auctions where they sell off cars. Many people don’t have the money to purchase a car right there in their back pockets, but this is why there are services like this available, so that you can get the financing you need to invest in a “new” car.
There are a few things that you have to keep in mind when you are interested in the fact that repossessed vehicle finance can be applied for at most bank repo auctions. Due to the fact that you are at the auction and you could possible be purchasing a new vehicle in the next few hours is exciting, but not exciting enough for you to sign your life away. What this means is that there will be an interest rate fixed to the vehicle financing you want to take out, and whether this interest rate is high or low is an extremely vital factor that you have to look at before agreeing to borrow money.
It doesn’t matter whether you bank with Nedbank, ABSA, Standard Bank or you are a part of Wesbank, there will always be auctions that you can attend when you would like to buy a second hand car that’s in good condition at a good price. repossessed vehicle finance can be applied for at most bank repo auctions, but this does not mean that it is done at all auctions, so you will have to look at the ones who do offer this if it is what you want.