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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 ...
[1] [2] In 2013, the Auto Trader Group sold their South African business, Auto Trader South Africa, which then became a wholly South African-owned business. [3] [4] The autotrader.co.za website is South Africa’s largest automotive marketplace website for buyers and sellers of both new and used cars and other types of vehicles.
Various objects can be repossessed, including boats and aircraft, but most repossession agencies focus on car repossession. The repo agent normally uses a tow truck or pickup truck with a special towing attachment called a boom. They also may obtain the key from the car owner. Usually, the vehicle owner must be notified of a repossession.
Auto auctions are the most common method of disposing of repossessed vehicles. Repossessed vehicles can feasibly sell for less because the financial institution disposing of them only seeks to offset its losses (also restricted by federal regulations). The condition of such cars may be compromised by lack of maintenance.
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.
In 2004, South Africa was responsible for the manufacture of 84% of all vehicles produced in Africa, 7 million of which are on the South African roads. Also in 2004, the industry made a 6.7% contribution to the GDP of South Africa and 29% of all South African manufacturers made up the country's automotive industry. 2004 also saw 110,000 ...
Birkin Cars; BMW South Africa; Brandt BRV; Ford Motor Company of Southern Africa; Harper; Isuzu South Africa; Land Systems; Motorite Racing; N4 Trucks; Nissan South Africa; OSI Vintage; SAMIL Trucks; Paramount Group; Puma; Toyota South Africa Motors; Former AMCAR; Delta Motors; Peugeot and Citroën South Africa (PACSA) General Motors South ...
Ranger was an automobile brand of General Motors which was produced from 1968 to 1978. Used in three main markets, the original automobile was marketed as "South Africa's Own Car" and was built in Port Elizabeth, South Africa, from 1968 to 1973.