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If you owe $12,000 on the loan, for example, and the lender sells your repossessed car for $8,000, the $4,000 difference — as well as any associated fees and costs — are called the deficiency ...
Ads proclaiming "Government Vehicle Disposal" and "The Repo Joe Sale" are designed to steer buyers to special used car sales events under the pretense they're getting a special deal.
Most car dealerships do not pay cash for the vehicles they buy at auto auctions. [23] They rely on inventory financing, a line of credit extended by a bank or other institution to acquire vehicles. [24] This is known in industry parlance as floorplanning (floor planning) or simply "flooring" vehicle inventory. [25]
It is located in a strategic location between two highways, the N2 to the east and the M4. The N2 links to King Shaka International Airport and KwaDukuza in the north and Amanzimtoti and Port Shepstone in the south whilst the M4 links to the Durban CBD in the north-east and the N2, Umlazi and Isipingo in the south-west. [2]
It begins by going north-north-east for 12 kilometres as the Inkosi Albert Luthuli Highway (formerly Southern Freeway [2]), parallel to the R102, to reach the Durban Central Business District near the Port of Durban, where it stops being a highway and makes a left and a right turn to join the R102 and be co-signed with it through the city centre.
The N3 is a national route in South Africa that connects Johannesburg and Durban, [1] respectively South Africa's largest and third-largest cities. Johannesburg is the financial and commercial heartland of South Africa, while Durban is South Africa's key port and one of the busiest ports in the Southern Hemisphere and is also a holiday destination.