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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.
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.
On 16 April 1992, the South African Auto Trader was launched. The company, led by CEO George Mienie, has since transitioned from only an automotive classifieds magazine business to an online business via autotrader.co.za.
A 1960 Ferrari 250 GT SWB California Spider that went on to sell for $4,950,000 in 2009 was offered for sale in the June 1964 issue of Road & Track for US$10,500 (equivalent to $103,000 in 2023), in the April 1976 issue of Hemmings Motor News, the same car was offered at US$16,750 (equivalent to $90,000 in 2023). [32]
The WeBuyCars Dome, previously known as the TicketPro Dome, Coca-Cola Dome, The Dome at Northgate, and MTN Sundome, is a defunct indoor arena and car showroom located in Randburg, north of Johannesburg, South Africa. The showroom accommodates over 1,000 vehicles and covers about 11,000 square metres.
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