WesBank - a division of FirstRand Bank Ltd. An Authorised Financial

WesBank - a division of FirstRand Bank Ltd.
An Authorised Financial Services and Registered Credit Provider. NCRCP20.
This straightforward guide will lead you
through the process of buying a vehicle at
a WesBank auction.
If you are unsure about anything, our experienced motor auction personnel will be happy
to help. Please note that all our auctions are operated in accordance with our Conditions
of Entry and Sale, which are displayed in the auction halls. You can also request a free copy
from the auction centre.
Before you start bidding
Decide what sort of vehicle you would like to buy before even attending an auction and set a budget, remembering that VAT
is added to the price afterwards.
If you haven’t been to an auction before, we advise that you observe and learn from the auctioning of a number of vehicles
before you make a bid of your own. It may be helpful to attend one or two auctions without bidding at all, in order to get a
better understanding of the process. You can also ask the auction house staff for guidance.
Finding out what vehicles are on auction
The auction centres produce catalogues describing the vehicles to be auctioned on a particular day, available on the
WesBank website. These catalogues are meant for guidance only, so be aware that there may be late changes and you need
to inspect the vehicles thoroughly yourself.
Viewing the vehicles on auction
The vehicles will be on display in the auction centre on the morning of the auction or during the previous afternoon. Take your
catalogue with you to examine the available vehicles and try to find two or three of the type of vehicle you are interested in
so that you have a choice.
No test-driving available
Auction houses operate differently to dealerships so you cannot test-drive the vehicles. You will, however, be able to see
the vehicles started up during the auction. Also, you are welcome to bring along a service advisor or technical expert to
assist you in evaluating a vehicle on display before the auction.
Attractive prices for consumers
You can get a good deal because the vehicles are sold at wholesale prices, and dealers who buy stock at these auctions
will add on their mark-up before selling. However, remember to compare prices and do your homework before bidding
on any vehicle.
Register as a buyer
Anyone can bid as long as they are registered as a buyer before the auctions starts. You register by paying a refundable
deposit of R5,000 (R10,000 at Bloemfontein and Aucor Cape Town) in the form of a bank guaranteed cheque. Please ensure
that you have the required documents with you (listed on the WesBank website) to register. You will then receive a number,
which you will use for bidding.
How to bid
The auctioneer will guide the bidding by indicating what price he is looking for. If you wish to bid, make it clear by raising
your bidding number, and make sure that the auctioneer has seen you. If the price goes beyond what you are prepared to
pay, stop putting up your hand.
Assistance during the auction
There are auctioneers and other members of staff present who will be happy to help you with bidding and guide you
through the auction process.
All vehicles are sold ‘voetstoots’
If you buy a vehicle at an auction you will buy it ‘voetstoots’ – as it stands, with its potential faults – which means that
WesBank does not guarantee the mechanical condition of the vehicle. However, WesBank does warrant that all cars sold on
auction are unencumbered (free of debt), an extremely important issue in South Africa. In addition, warranties are available
on selected vehicles.
In the case of a provisional sale
The seller is allowed to place a reserve price on the vehicle, the lowest price the auctioneer is allowed to accept. If your bid
is the highest received, but below the reserve price, the auctioneer may ‘provisionally’ sell the vehicle, subject to the seller
accepting your bid. Our staff will guide you through this process.
How to pay
If you are the successful bidder, your next step is to complete the paperwork and pay. Your invoice and any vehicle documents
will shortly be available at our cashier’s office, where you will need to pay the balance of the purchase price.
We accept an electronic transfer, bank guaranteed cheque or a release note from a reputable financial institution. Please
note that we will not accept cash under any circumstances. We apologise if this is an inconvenience but it is a necessary
security precaution.
Finance is available
You can apply for finance pre-approval but it must be organised well in advance.
Tax is added afterwards
All vehicles sold at the auction are subject to VAT, which is added to the agreed bid before payment is made.
No roadworthy certificates provided
As the buyer, it is your responsibility to organise the roadworthy certificate. Our staff will provide you with advice in
this regard.
Obtaining the vehicle
When you have paid in full, the cashier will give you a receipt, the vehicle documentation and a pass out slip.
Take the pass out slip to the key office to obtain the car keys. You will also need it at the gate as your authority to take the
vehicle off the auction premises. Hand it to the gateman, who has the right to inspect and search the vehicle to ensure it is
being correctly removed from the auction.