Bank repossessed motorcycles for sale at auctions come in a variety of makes and models. So are a great place to find the perfect bike for you at below market value. These bikes can be found at lower prices than at dealerships. Because the banks are looking to make back the outstanding money owing on the motorbikes. Previous owners could not afford to pay the instalments any more. This may seem like a disheartening situation. However you can see it as an opportunity for you to buy the motorcycle you are looking for without having to pay a fortune.
Bank repossessed motorcycles include makes such as:
- Harley Davidson
- Honda
- Suzuki
- KTM
- Yamaha
- Kawasaki
- Triumph
- BMW
- Ducati
- Vespa
It is important to realize that you may not find exactly what you are looking for at the first auction event that you attend. Therefore be patient because the bike auctions offer great value for money.
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Bank Repossessed Motorcycles at Auctions
If you are looking for a bank repo auction, then why take a look at one of the established auction houses. Such as Burchmores or Aucor. To see what bank repo motorcycles they have on offer.
Whether you are looking for a Suzuki, a Yamaha. Or even the biggest and noisiest iron horse there is – the Harley Davidson. Why not take a look at bank repossessed motorcycles for sale at auctions as there are number of these brands being sold for decent prices.
It is imperative that before you even consider buying that you have all the correct licensing in place. Such as your license. Because you will not be able to purchase a bike at one of these auctions without one.
Another important thing to remember is that the bikes may or may not come with a complete service history. Therefore a day or two before the auction happens you should take a qualified mechanic to assess the motorbike before you purchase it.
Although the Consumer Protection Act that has come in to play in South Africa aims to stop any unlawful or sneaky behavior by the seller of all products. It has not fully been rolled out and therefore you cannot assume that you are under protection.
Deposit and Bank Finance
Another important thing to have on hand when you attend the auction for the bike you wish to purchase is the deposit.
This will secure the vehicle in your name until such a time that you finance for the bike is approved. One of the nice things about these auctions is that the majority of the banks in South Africa have vehicle finance specialists. And mobile units available at the auction houses so that you can apply for finance then and there.
This means that the whole process is quick and simple and you can be assured to walk away a new shiny toy to keep in your garage.
Words of Caution when you Attend Bank Repossessed Motorcycle Auctions
There a few things to be weary of when attending these auctions.
Firstly some people are hired to attend auctions in order to push up the price that people pay on the vehicles and motorcycles on offer.
Therefore have a predetermined amount that you are willing to pay for the bike that has caught your eye and to not go over that amount.
Secondly get the bike checked out before hand as once it is in your possession it is your responsibility. So any fault that you find with the motorcycle will lie with you and no one else.
This is because all bank repossessed motorcycles for sale at auctions come as is. Therefore it is not the responsibility of the auctioneer or of the bank to fix any problems that may arise.
To Summarize
In summary there are different bike repossessions for sale on auction at various prices.
The types of motorcycles people look for include:
- Scooters
- Choppers
- Mopeds
- Dirt Bikes
- Hogs
- Scramblers
- Cruisers
- Quad Bikes
So take into consideration the advice on offer above regarding the bank repo auctions in South Africa.
Because it will put you in a better position if you want to buy bank repossessed motorcycles at these events.