Every Wednesday at 11:00 AM, car buyers have an exciting opportunity to save big at the MFC Bank Vehicle Auction. Taking place at their state-of-the-art showroom in Kempton Park, this auction is unlike any other in South Africa. Whether you attend in person or participate online, you're in for an exciting experience with significant savings on quality vehicles.
Why This Auction is Different
At this auction, all vehicles are bank repossessions, meaning no dealer or private stock—just cars directly from the bank. This provides you with transparency and confidence when bidding. Plus, each vehicle comes with a Dekra condition report, making MFC the only auction house in South Africa to offer such a service across all cars at their Auction Centre in Johannesburg.
The auction takes place in a drive-through facility, where vehicles are driven in front of bidders as they are auctioned, with comfortable seating for those attending live. Prefer to bid from home? No problem—online bidding is available, and it offers convenience without sacrificing the excitement of a live event. Online bidding also allows you to avoid travel, parking, and crowds while still getting your hands on great deals.
Market Insights and Savings
On average, cars at these auctions sell for around 75% of their trade value, meaning substantial savings for savvy buyers. With a wide selection of vehicles available, you’re bound to find something that suits your needs and budget.
Auction Finance: Pre-Approvals and Live Coverage
Auction Finance will be live at the MFC viewing day and auction event, providing previews of the cars going on auction and offering insights into the deals as they happen. For our TikTok followers, our influencer, @Sthe0051, will be covering the auction live on TikTok. Watch as he walks you through the bidding process, highlights vehicles on offer, and answers your questions in real-time. Be sure to follow him to stay updated: Watch @Sthe0051 Live on TikTok.
MFC Auction Event Details:
- Auctioneer: MFC Auction House
- Date: September 18, 2024
- Time: 11:00 AM
- Location: M57 Pretoria Rd, Glen Marais, Kempton Park
- Viewing Day: September 17, 08:00 AM – 16:00 PM
- Catalogue: View full catalogue here
- Vehicles on Auction: 158
Frequently Asked Questions (FAQ)
Where is this auction located?
The auction takes place at MFC Auction House, M57 Pretoria Rd, Glen Marais, Kempton Park.
Can I participate in the auction online?
Yes! You can participate in the auction both live in person or online. Simply visit the auction at the physical location, or participate online by clicking here.
How do I take part in the auction if I want to buy a car?
To participate, bidders must register beforehand. Here’s what you’ll need:
- Private Individuals: Original ID and utility bill (not older than 3 months) showing current residential address
- Non-S.A. Residents: Passport, valid VISA, or traffic register certificate
- Dealers & Companies: Proxy and buyer’s ID, traffic register certificate, business proof of residence, letter with proxy and buyer’s details, business registration documents (CK, CC, PTY), and owner/manager/GM ID (the person signing the proxy letter)
Can I view the cars before the auction?
Yes, viewing is available both online and in person at the MFC Auction House premises. The viewing day is free and no registration is needed to browse the vehicles.
Is there an auction list or catalogue available?
Yes, a detailed auction catalogue is available before the auction. Typically, the final catalogue is released the day before the auction, but you can usually access it a week ahead. You can view it online at MFC Auctions.
Can I get finance for auction cars?
Yes! Auction Finance is available on-site and online. You can even secure a pre-approval before the auction by applying online at Auction Finance.
What is a ‘runner’ vehicle?
A "runner" vehicle refers to a used car that is in running condition and can be driven. All vehicles in this auction come with a DEKRA condition report for peace of mind.
How much is the deposit to register?
A deposit of R5,000 (five thousand rand) is required for registration. This can be made via EFT or bank deposit.
Is the deposit refundable?
Yes, the deposit is fully refundable if you don’t bid or if your bid is unsuccessful. However, if you place a successful bid and fail to complete the purchase, you will lose your deposit. If you don’t bid or win, your deposit can either be refunded within 5 business days or kept for future auctions at your request.
How much will a car cost at auction?
The final price depends on bidding and various factors like mileage, condition, and service history. Most auction cars sell below trade value, but you should attend or view the auction to get a sense of pricing and budget accordingly.
Are there additional charges (VAT, etc.)?
Yes, additional fees apply. Here’s a breakdown:
- Bid price (Hammer price)
- Documentation fee: R2,250 (Excl. VAT)
- Buyer’s commission: 5% (Excl. VAT)
- DEKRA report (if applicable): R521.74 (Excl. VAT)
- VAT: 15%
A full breakdown will be provided on your pro forma invoice.
What is the starting price for bidding?
Pre-bidding is open on all items before the auction, and the highest pre-bid will be the starting price when the live auction begins. The auctioneer will regulate bid increments during the live auction.
Do MFC hold auctions in other regions?
Yes, MFC hosts auctions in various regions, including KwaZulu-Natal (KZN), Western Cape, and Free State. While dates for these auctions vary, you can stay informed by joining our WhatsApp Auction Alert Group: Click here or by visiting Auction Finance.
Need more information?
For a full list of terms and conditions for the MFC Auction, visit MFC Terms & Conditions.
Stay Informed with Auction Alerts!
Don't miss out on future auctions! Join our WhatsApp Auction Alert Group to receive updates on all upcoming bank, fleet, and commercial vehicle auctions across South Africa.
Join here: WhatsApp Auction Alert
Auction Finance is proud to offer competitive rates and easy pre-approvals, helping you secure the perfect vehicle at your next auction! Whether you're looking for personal, commercial, or agricultural finance, we've got you covered.
Contact us:
- F&I Manager: Carin Visser
- Phone: 082 654 7232
- Email: catharina@auctionfinance.co.za
- Website: www.auctionfinance.co.za - Auth. FSP34936
Have more questions?
Reach out to us directly or ask in the comments below, and we'll be happy to help! Keep an eye on @Sthe0051’s TikTok for live coverage of the auction.
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