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Are bank repossessed cars cheaper?
Another reason why buying a repossessed car is affordable is because lenders usually want to get the money they lost from the sale. When calculating pricing, most auction houses will calculate based on the vehicle’s current trade value, mileage and condition.
Is buying a repossessed car a good idea?
The biggest disadvantage for the buyer of a repossessed car at auction is that test drives are not allowed. There are good reasons for this; the chief one being that the finance house or bank that provided the original purchase-price funding still owns the car until it is actually sold at auction.
Is buying a car at auction a good idea?
Buying a used vehicle from an auction can be much cheaper than buying from a dealer or a private seller, but it’s also a much riskier way of buying a used car. You usually won’t get a test drive, there’s no warranty, and the vehicle could easily have a sketchy past.
Can a 16 year old drive in South Africa?
The minimum age to hold a licence is 18. Apply for a driving licence | South African with the exception of Code A1 for which the minimum age is 16.
What is a code B car?
Answer: A code B driving licence allows you to drive a particular size of vehicle. In terms of legislation, a code B licence is for a motor vehicle whose tare does not exceed 3500kg or a minibus or bus whose gross vehicle mass does not exceed 3500kg.
What are the risks of buying a car from auction?
Risks of Buying a Car from an Auction
- Overbidding. The atmosphere at an auction is very different from an auto showroom or a used car lot.
- No Warranty, Sold ‘As Is’ Cars at auction are sold without a warranty.
- Seller Tricks.
- Cost of Repairs.
Why choose Park Village auctions Durban?
Today, the Durban branch has ten industry experts on staff. Our Durban branch maintains the cast-iron reputation Park Village has built in terms of dealing with clients and stakeholders, as well as our commitment to the auctioneering sector. Park Village Auctions was founded in 1983 by Jack Lazarus and sons Roy, Clive and Dean.
Is the vehicle description given by the auctioneer conclusive?
THE VEHICLE DESCRIPTION AS PROVIDED BY THE AUCTIONEER IS NOT CONCLUSIVE. IT IS THE BIDDERS RESPONSIBILITY TO MAKE SURE THAT THE VEHICLE SPECIFICATIONS ARE CORRECT. THE BIDDER MUST SET HIS/HER OWN PRICE BASED ON HIS/HER OWN ASSIGNED VALUE TO THIS VEHICLE. TRADE AND RETAIL PRICES ARE DISPLAYED AS A GUIDELINE ONLY !!
What is auction finance and how does it work?
Auction finance is pre-approval for the finance of an asset you wish to purchase in an auction. The finance is facilitated prior to the auction. Tirhani Auctioneers has a partnership with Auction Finance ( www.auctionfinance.co.za) who offer a wide range of services. Please visit the Auction Finance website for more information. BID ONLINE NOW!