Car repossession rights in South Africa are important to take note of, unless you bought your vehicle cash and owe nothing on it. If you went through the whole process of borrowing money from one of the banks, it is up to you to avoid getting into trouble. Even though you bought the car, the dealer still has some ownership over it until you have paid it off fully, and skipping a payment or paying late can give them the right to repossess it; the laws are on their side. A repo can take place as long as you are not repaying the banks for the money you borrowed and you are sure to get a few visits from debt collectors and you might risk your vehicle being sold at an auction.
One of the most important tips for you to follow if you want to remain along the legal route and keep your car is to pay when the money is due, and pay attention to the car repossession rights in South Africa. The minute you avoid payments to the banks, they are able to process legal action against you and you will deal with debt collectors and a repo might be on the way! You have to abide by the laws, which state that if you do not pay back the money you borrowed your car may be sold at an auction and the money will be taken by the bank to pay your loan.
There aren’t many tips that you can follow besides the fact that it is vital for you to make regular monthly payments to the bank where you got the car financing from. Car repossession rights in South Africa are reasonable, but it’s up to you to do your part and make sure that they have no reason to repossess your car.