The ABSA Passenger & Commercial Vehicle Auction is landing in Gqeberha on 12 June 2025, and buyers are already circling quality stock—from SUVs and sedans to trucks, trailers, and even yellow metal equipment. But before the first bid is placed, smart buyers are already speaking to Nicol Palmer, one of Auction Finance’s seasoned F&I consultants, to get pre-approved and ready to roll.
We asked Nicol to share what buyers need to know before auction day, and why getting your finance sorted upfront is a non-negotiable.
📝 What’s the first step to securing finance at an auction?
According to Nicol, it all starts with a completed application and the right supporting documents. The requirements vary slightly between private buyers and businesses, but the goal is the same: get a clear picture of your financial profile before the bidding begins.
For private buyers:
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Completed and signed application form
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SA ID and valid driver’s licence
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Proof of address (credit provider statement, not older than 3 months)
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3 months’ bank statements (6 months if self-employed)
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3 months’ payslips
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Proof of additional income (if applicable)
For businesses:
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Completed juristic application + director applications
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Company registration docs (CK/PTY)
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6 months’ bank statements
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Audited financials or up-to-date management accounts
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Proof of address (for the company and all directors)
💡 Why does pre-approval matter?
“Bidding without finance in place is risky,” Nicol warns. “Buyers often assume their credit is perfect, but things can go sideways quickly. If your bid is successful but the bank declines your finance—or offers a poor rate—you only have 48 hours to pay, or you’ll lose your registration deposit and be blacklisted from future auctions.”
That’s why Auction Finance helps clients apply in advance, giving them a realistic approval amount, clarity on rates, and peace of mind to bid with confidence.
🚛 What kind of vehicles are on offer?
Buyers can expect a wide range of assets at this auction:
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Popular cars and SUVs
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High-end models
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Commercial vehicles (trucks, trailers, bakkies)
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Agricultural equipment and yellow metal
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Even buses and non-runners (note: non-runners can’t be financed traditionally, but Auction Finance can assist with personal loans if needed)
🔧 How does Auction Finance tailor finance for each buyer?
“No two buyers are the same,” Nicol explains. “We take time to understand your needs—whether you're a private buyer, a fleet manager, or a small business. We also offer value-added products like warranties, insurance, and deposit protectors. We don’t just secure finance—we set you up for success long after the auction.”
💼 Why choose Auction Finance?
Nicol doesn’t hold back: “There’s no one else quite like us.”
Auction Finance works with all four major banks—ABSA, Standard Bank, WesBank, MFC—as well as a panel of 13 private funders. That means clients can compare offers and choose the best one for their needs.
“If it has a VIN or engine number, we can finance it. We’re what I like to call the hybrid of finance,” says Nicol. “You get options, support, and a team that genuinely cares.”
⏱️ How long does approval take?
If you’re a private buyer with your documents ready, approval can happen the same day. For companies, it usually takes up to 48 hours, since the vetting process is more complex.
So don’t wait for auction day—get everything in order now.
❓ What advice would you give to first-time bidders?
“Don’t let auction fever get to you,” Nicol laughs. “Stay cool, set your limits, and attend the viewing days to inspect the vehicles properly. The more prepared you are, the better your experience will be.”
👥 How does Auction Finance support buyers on the day?
On-site support in the Eastern Cape is hands-on: “We help you register, get your buyer number, and guide you through the process. We’re there to make sure you feel confident, not confused.”
💬 Final thoughts?
“If you’ve never financed through an auction, don’t stress. We’re here to walk you through everything. And if you’re already a savvy buyer—come get a better deal with us.”
📲 Ready to Bid with Confidence?
Pre-approval is just a few steps away. Contact Nicol Palmer today:
📞 +27 61 521 7518
📧 nicol@auctionfinance.co.za
🌐 www.auctionfinance.co.za
Auth. FSP34936
View auction details: https://tinyurl.com/6ybjr4w4
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