Buyer guide
Repossessed and
distressed vehicles.
Dynamic Auctioneers does not sell bank repossessions: it sells distressed vehicles from liquidations, insolvent and deceased estates, business rescue and government disposals. The route a vehicle took to auction determines what you can verify before you bid, and this guide explains each one.
Key takeaways
- We do not sell bank repossessed cars. Bank repossession contracts sit with a small number of very high-volume auction houses.
- We sell distressed vehicles from liquidations, insolvent and deceased estates, business rescue and government disposal programmes.
- The route a vehicle took to auction determines what you can verify before you bid.
- Read the conditions of sale, attend the viewing, match the VIN, engine number and papers, and confirm the finance position before you bid.
- Arrange finance before you bid: the balance is due within the period set out in the conditions of sale, which is usually too short to start a finance application from scratch.
Be clear on this first
Where we fit, and where we do not.
The routes
Four ways a distressed vehicle reaches auction.
Instalment sale default
The finance house repossesses after default and sells to recover the outstanding balance. High volume, weekly, and concentrated with a handful of auction houses. Condition is variable and history is often thin.
Insolvent estate or liquidation
A trustee or liquidator realises the vehicles of an insolvent individual or company. Sales are court-supervised, records tend to be better, and the vehicles were usually in service until recently.
Estate wind-up
An executor appointed by the Master of the High Court disposes of the vehicle as part of winding up the estate. Often well-maintained, single-owner vehicles with full service history.
Government and fleet disposal
Departments and companies dispose of fleet on a replacement cycle rather than because anything is wrong. Maintenance records are usually complete and the mileage is documented.
Due diligence
What you can actually verify before bidding.
Every distressed vehicle is sold voetstoots. These are the checks that are available to you, in the order worth doing them.
-
01
Read the catalogue entry and conditions of sale
They disclose the source of the vehicle, the deposit and commission, the payment period and the collection deadline.
-
02
Attend the viewing
Physically inspect. Check panel gaps, tyre wear, fluid condition and whether it starts. Distressed vehicles frequently stand for months before sale.
-
03
Match VIN, engine number and papers
A discrepancy between the vehicle and the registration documents becomes your transfer problem after the hammer falls.
-
04
Run a vehicle history check
A paid check surfaces accident history, write-off records and finance flags. Cheap relative to the risk it retires.
-
05
Confirm the finance position
Establish that any outstanding finance is settled or will be settled from the proceeds, so the vehicle can transfer cleanly.
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06
Price in roadworthy and repairs
Add the roadworthy test, likely repairs and transfer costs to your maximum bid before you raise your hand, not after.
Common questions
Distressed vehicle auctions, answered.
Do you sell bank repossessed cars?
No. Bank repossession contracts sit with a small number of very high-volume auction houses. We sell distressed vehicles from liquidations, insolvent and deceased estates, business rescue and government disposal programmes.
Are estate vehicles better than bank repos?
Often, though not always. Estate and government fleet vehicles tend to come with better documentation and were usually in regular service until the event that triggered the sale. Bank repossessions can sit unused for long periods before disposal. Inspect either way.
Can I get finance for an auction vehicle?
Arrange it before you bid, not after. The deposit is payable at the fall of the hammer, and the buyer’s commission and the balance as the conditions of sale set out. The period for the balance is usually too short to start a finance application from scratch.
What happens if I win and cannot pay?
You are in breach of a binding agreement. The conditions of sale set out the consequences, which can include forfeiting your deposit and liability for any shortfall on a resale. Do not bid beyond what you can settle.
Is there a cooling-off period?
Bid as though the fall of the hammer is final, because in practice it is: an accepted bid is a binding contract and the conditions of sale for that auction govern it from that moment. Whether any statutory cooling-off right could apply to a particular purchase depends on how that sale came about, and it is not something to bid on the assumption of. If you believe one applies to you, tell us in writing straight away.
Guides for this
Read up before you decide.
Buying a vehicle on auction: the checks, the costs and the paperwork
How to buy a vehicle on auction in South Africa: where the stock comes from, inspection and VIN checks, finance, costs, roadworthy and the 21-day eNatis rule.
Read the guide Buying · 14 minBuying a repossessed or distressed property
Sheriff, bank-in-possession and estate sales compared: the deposit, sheriff commission, arrear rates and levies, occupiers under PIE, and what to check first.
Read the guide Vehicles and assets · 14 minBuying and selling plant and machinery on auction
How plant and machinery auctions work in South Africa: checking hours and serial plates, proof of ownership, VAT, collection and removal, preparing kit to sell.
Read the guideWant to know when vehicles are catalogued?
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