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Bank Repossessed BMW 1 Series 116I (F20) (2012)
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As this is an online auction with a defined expiry date/time, it is important to place your best bid before the close of the auction. Should you wait until the last second you may experience a slow internet connection from your internet provider, and may run the risk of your bid not being placed in time. If a bid is received a few minutes before an auction closes, the auction will be extended for a further 2 minutes. This Vehicle is SOLD ‘AS IS’ with NO WARRANTIES /GUARANTEES and although it may be advertised as a ‘RUNNER’, this simply means that the engine starts. Furthermore NO WARRANTEE / GUARANTEE is provided regarding any functional components.
What is a Bank Repossessed Car?
Bank repossessed cars are assets that a financial institution has taken back from a client who has failed to pay for it. This financial institution can then decide to either keep the vehicles for compensation or sell the cars to recuperate costs and does this via means of bank repossessed auctions.
Here are some benefits when buying a repossessed car on auction:
- When buying a new car, the value of the car falls as soon as you drive it off the showroom floor. With repossessed cars, that value has already taken the plunge and it loses value more slowly.
- Depending on the brand, you save a lot of money on a repossessed car. Some brands lose value faster than other brands.
- When buying a relatively "new" repossessed car, the factory warranty may still be active.
- If you are looking for a specific car and keeping a thorough eye on the MyCars website, it is bound to make its appearance. Create an email alert and get notified when it is on auction.
- Repossessed cars are often sold for much less than they are worth, giving you great value for money.
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Used BMW 1 Series 116I (F20)
This 2012 year model BMW 1 Series was previously for sale in Eastern Cape with an asking price of R 212,000. This low mileage bank repossessed BMW 1 Series for sale has 83,657km on the clock. The vehicle primary colour is RED. The vehicle has a Manual transmission. The vehicle has the following comfort features Power Windows,AM/FM Stereo,Central Locking,Power Steering,Radio,Speakers,Power Steering,Air Conditioning.