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Last month over 6800 offers were made on MyCars




To sell your car on mycars, its as easy as:
  • Step 1: Register as a user on MyCars.co.za.
  • Step 2: Take pictures of your vehicle according to the proposed format and guidelines.
  • Step 3: Confirm your vehicle details.
  • Step 4: Load your vehicle onto MyCars.co.za for auction.
  • Step 5: Await confirmation of advert after MyCars.co.za quality control.
  • Step 6: Once advert is activated, your advert will be live within 0-24hours.
  • Step 7: Once the auction is concluded, you may accept the best bid or re-advertise your vehicle on the next auction.
  • Step 8: Contact buyer to conclude sale.
To start the process, please register or log in to MyCars.

Over 193000 people use MyCars.
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Repossessed vehicles added daily whilst shopping for your new car from the comfort of your computer, tablet or cell phone. Convenience doesn't get better than that plus you save thousands. Why not start searching for your dream car today?

How does it work?
R3000 refundable viewing deposit payable if your bid is accepted.
Viewing details will be disclosed once deposit has been paid.

 

Want to sell your vehicle quickly and at the best possible price? MyCars.co.za allows you the ability to sell your car on our trusted online auction platform, for free.

How does it work?
Capture pictures of your vehicle.
Confirm your vehicle details (year model, mileage, etc.)
Upload your advert using the “Sell My Car” link

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Why join MyCars?

When you join MyCars you immediately have access to all these terrific features:

  • You can make online offers on cars.
  • Get e-mail alerts when new cars matching your wants and needs are listed.
  • Save your favourite cars in the My Favourites section.
  • Rate and tag cars as you browse.
  • We keep all your information private and secure.

Bank repossessed cars are assets that a financial institution has taken back from a client who has failed to pay for it. This financial institution can then decide to either keep the vehicles for compensation or sell the cars to recuperate costs and does this via means of bank repossessed auctions.

If you are facing a bank repossession due to lack of payment of your loan for an extended period, your choices are as follows:

  • Sell the vehicle before the bank repossession: this is the scenario where you approach a third party and try to sell the vehicle so that you can settle your debt before the vehicle is repossessed.
  • Voluntary Surrender: this is the scenario where you voluntarily hand the vehicle back to the financial institution without any argument.
  • Court Order: if you do not want to surrender the vehicle, the financial institution is forced to acquire a court order which empowers them to repossess the vehicle legally.

Once a vehicle has been repossessed the owner is given a final opportunity to settle the shortfall but will still be liable for any additional administrative and legal costs. If no settlement is received by the financial institution they will proceed with the sale of the vehicle via means of an bank repossessed auction. If the vehicle owners debts are larger than the amount received by the sale of the vehicle the owner is still liable for the amount owed plus any legal or administrative costs which may have accumulated. In this scenario the financial institution may offer the owner a payment scheme to settle the remainder of their debt, if the owner is not in a position to pay off the debt they may proceed with attaching other assets the owner might have, such as furniture or appliances and so on. Repossession leads to blacklisting on the ITC system for a period of 5 years meaning the person will not be able to apply for any credit or loan amounts during this period.

Banks sell repossessed cars via physical and online auctions from various auctioneers including:

  • MyCars.co.za (online bank repossessed car sales)
  • Aucor
  • Burchmores
  • Imperial

Popular bank repossessed cars in South Africa include:

Latest bank repossessed cars for sale: