In the current economic climate, everyone is looking for the best deal when buying a car. People don’t usually consider car auctions when looking for those great deals, mostly because few understand the process properly, which raises the anxiety of buying at an auction. WesBank has a simplified and trusted process of buying a car on auction. 

Let’s delve in more to learn about the auction process, how it works and why it could be your smartest move this year.

Q1: Why should you use auctions, and what type of vehicles are on offer?

If you're shopping on a budget but still want quality, WesBank Auctions is your go-to destination. Every week, vehicles go on auction at unbeatable prices . From SUVs and hatchbacks to Bakkies and commercial vehicles, they’ve got something for everyone.

The WesBank flagship auction house in Midrand hosts live auctions every Thursday, while regional auctions take place fortnightly or monthly in the Eastern Cape, Western Cape, KwaZulu-Natal, and Free State. Whether you're a first-time buyer or a seasoned dealer, WesBank Auctions offers a trusted platform to find your next vehicle at a price that fits your pocket

For those who prefer doing things online, you can also bid on our online auction platform by visiting www.wesbank.co.za and select the auctions tab to view available vehicles, upcoming dates and catalogues.

Q2: How does the auction process actually work?

You can visit the WesBank auction catalogue online where you can see all vehicles in different places that will go on auction that week. Once you have seen a vehicle that you are interested in, you can then attend a viewing day 24hr before the actual auction day to inspect the vehicle.

Here you can check the bodywork, the interior, you can start the vehicle but unfortunately no test drives are allowed. It’s advisable to bring someone skilled in viewing vehicles like a mechanic, so they can give an expert opinion on the condition of the vehicle. Once you have decided you want to be part of the auction bid process, you need to follow these easy steps:

• Register with your ID and proof of address, 
• Pay refundable deposit that starts from R5000 depending on the auction. 
• You will then get your bidder number and can join either live “hybrid” or online.

With WesBank you can also apply for a pre-approval finance to make the process more seamless.

Q3: What are the key things bidders need to keep in mind before buying on an auction?

• The golden rule is that all vehicles are sold voetstoets (as-is) so always do your checks on viewing day. 
• When bidding, never get carried away, stick to your budget.
• Remember the bidding prices exclude VAT, buyers commission and administrative costs. Its therefore important to calculate your bidding budget with and without these costs especially VAT.
• Payment is due within 24–48 hours, depending on the auction place. This means you need to pay the purchase amount in full within this period. 

Q4: What happens if you win a bid?

You’ll get an invoice immediately. Once you pay via EFT and the funds clear, you can then collect your car. We also give you all the necessary paperwork, like the NaTIS documents and the Notification of Change of Ownership, so you can register the car in your name. The advantage with using WesBank auctions is peace of mind you know you’re dealing directly with WesBank, so there are no middlemen or risks of scams.

Q5: How can you take part in the next WesBank auction?

You can visit the flagship auction place in Midrand or just head over to wesbank.co.za and click the Auctions tab to view upcoming actions including a full list of current auction stock.