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Used Cars or Bank-Repossessed Cars are vehicles that came from the Bank’s Auto Loan Borrowers who defaulted in their loan obligation. Show km away from you. R 100 000 R 2 125 p/m. za . gov. Each vehicle will be on auction for a minimum of 1 day. 2 days ago. The. 1. Under Debt Review. Est. Show km away from you. We Assist. one more thing. Simply put, vehicle repossession means your lender or lienholder—whether it's a bank, credit union, or dealership— takes back your vehicle because you've failed to make the monthly payments . When looking at the used cars sold at an SMD car auction, depending on the state of the vehicles, you can expect prices ranging from R5,000 to R200,000 plus. Repossessed cars, often referred to as “repo cars”, are vehicles repossessed by financial institutions such as Robinsons Bank when borrowers default or are unable to pay off their loans. Private and Bank Repossessed Cars For Sale in South Africa. 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