To avoid repossession of a car isn’t always easy, but it should be done if you don’t want to give yourself a bad name. You have to stick to the laws, and in this case it is paying your cars instalments on time. Once the debt collectors get hold of you, they don’t listen to any excuses, they will hand you over and your car will be sold at one of the bank repo auctions to make up the money you still owe on it. One of the banks will be involved, whether you are with FNB, ABSA, Nedbank or Standard Bank.
No matter what you do or how you do it, you have to do everything in your power to avoid having your car reposessed. The worst part is that it only takes a few bad non-payments for them to take your vehicle away and give you a bad credit rating. You could pay your instalments perfectly on time for 24 months, then you go through a rough patch and cannot pay for 4 months, and that will be it, they will take action. Once the debt collectors have been to see you and the laws state that you have to pay otherwise the car will be sold at one of the auctions, you must do what they say.
Keep the banks happy; it doesn’t matter if it is ABSA, Nedbank, FNB or Standard Bank, give them their money when it is due. The only thing you can do to ensure that your car is not repossessed is to make sure you pay on time every month. Even if you put the money away until the time comes when it needs to be paid, you do that. If you want to avoid reposesion of a car, don’t ever miss a payment or even make a late one; pay it on time or even early and you will be fine.