Trucks repossessed by banks are often sold for low prices at bank auctions. The reason that it is possible to see so many ‘for sale’ signs in newspapers and in the windows of car dealerships is because the economic recession has forced banks and dealerships to repossess cars. All banks, including ABSA, Standard Bank, FNB, and Nedbank are selling trucks, bakkies and other vehicles for low prices in order to get some of their lost money back quickly. It is possible to find trucks from all of the leading car manufacturers including Nissan, Toyota and Mitsubishi for great prices at your local weekend auction. It is really simple.
If you’ve never considered purchasing trucks repossessed by banks from auctions, but need to use bakkies for work purposes then it’s time to consider this option. Why are the cars so cheap? Because Nedbank, FNB and Standard Bank want to make sure that they have not lost any money by providing someone with car finance. They want to sell things quickly so that they can continue with business as usual and the best way to do this is to put things up for sale at lower prices than normal and sell the vehicles as is. Whether it’s a Mitsubishi, Nissan or Toyota you are after you will find them all at auctions.
Some things to consider before choosing this route to buy your bakkies is that many of the vehicles are sold as is. That means that you have no guarantee that when you buy it, it will work for a long time. These types of things are all risks you take in the interests of low prices, but cannot be discounted as being unimportant. Think about it and if you are interested try purchasing trucks repossessed by banks from auctions.