How does SMD auction work?
Registering online for online bidding allows you to bid on a vehicle just as if you were at the auction venue. The auctioneer takes bids from the auction floor as well as online bids coming from you if you are bidding online.
How do I join SMD auctions?
To register for a Branch Auction online: Register on the website and click on the Branch Auction you wish to participate in. Click on register. If you have a deposit with us, you will automatically be registered.
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.
How can I buy cars from auctions in South Africa?
To register for a repossessed car auction, you need to put down a deposit of between R5,000 and R7,000, which is refundable if you don’t buy a car during the auction. If you are a South African, you need to provide the auction house or the bank with proof of residence and a copy of your identity document.
Can I layby a car?
Thankfully there is another way to acquire your dream vehicle, and that is by purchasing your cars or motorcycle on layby or layaway. Purchasing vehicles through Lay-Buy can significantly help you manage your budget more adequately whilst also ensuring you can get the vehicle you want at a time that suits you.
What does Code 3 mean in cars?
unfit for use
Code 3 – A code 3 motor vehicle is a code 1 or 2 motor vehicle involved in an accident, and subsequently being declared unfit for use as a motor vehicle.
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.
What is required to buy car on auction?
To Register Most auction houses will also require proof that you are capable of financing a vehicle you intend to bid on, either with proof of pre-approved finance or via a valid, certified bank statement indicating you have the required funds at your disposal.
Should I buy a Code 3 car?
Code 3 -Permanently Unfit For Use Code 3 vehicles are Code 1 or Code 2 vehicles that have been involved in an accident, which, according to the insurer, is so bad that it is not worth repairing. To them, the cost of fixing the damage would amount to more than the car’s value at that particular time.
What credit score is needed to buy a car in South Africa?
Your score 580 and 669, your rating is fair, and you are considered to be a subprime borrower and the dealership will consider your application. 670 and 739, you have a good rating, and as such, you are not likely to default on your finance agreement. Finance will be approved.
What is the minimum income for a car loan in South Africa?
When looking at the requirements for a finance agreement between a buyer and MFC, it is rather simple, the applicant must be 18 years or older, must be a permanently employed salaried worker earning a minimum of R6 500 per month, have a valid driving licence, be a South African citizen or permanent resident and have a …
What does Code 2 mean in auction?
Second-Hand Used/pre owned vehicles
New vehicles delivered/sold by a dealer to the first owner. Code 2 – Second-Hand. Used/pre owned vehicles with one or more previous owners/registrations.
How does SMD auction work in South Africa?
The vehicles you find at SMD are sold with the help of insurance companies, and also private sellers. SMD auction cars online with vehicle stock in the following locations: Models are sold back to people at prices they can afford. You will be able to find automobiles for sale with an average price of R30,000 to R50,000.
Where can I buy a used car in South Africa?
MSD cars are a different company, this is SMD cars in South Africa. This may also be of interest to you: Repossessed Motor Cars Auctions If you are looking for a specific Toyota or Nissan bakkie, you should definitely attend the SMD car auction to see what used cars are for sale. Some popular makes for sale at SMD cars are:
What is the average price of a used car at SMD?
When looking at the used cars sold at SMD, depending on the state of the vehicles, you can expect prices ranging from R5,000 to R200,000 plus. Not to be confused with MSD auctions.
What is the average price of a used car in SA?
When looking at the used cars sold at SMD, depending on the state of the vehicles, you can expect prices ranging from R5,000 to R200,000 plus. Not to be confused with MSD auctions. MSD cars are a different company, this is SMD cars in South Africa.