We offer a wide selection of vehicles at competitive prices, often below market value. The vehicles labeled “Bank” originate from unpaid financing contracts (loans, leases, or credits) and have been repossessed by our partners from debtors or dealers who have gone bankrupt. Our platform provides easy access for both individuals and companies, allowing them to purchase these vehicles at competitive prices.
The bank-repossessed vehicles sold through our platform are offered at highly competitive prices for several key reasons:
- Quick Recovery of Funds
A significant portion of the vehicle’s value has already been recovered, enabling our partners to sell these vehicles at below-market prices, facilitating a fast sale. This helps them promptly recover outstanding debts and avoid further financial losses. - Rapid Asset Liquidation
Banks aim to liquidate repossessed vehicles quickly to minimize storage and maintenance costs. These vehicles are often stored in warehouses with high rental fees, so selling them quickly allows banks to recover their losses and reduce additional expenses. - Reducing Long-Term Losses
Delays in selling repossessed vehicles can lead to further losses for banks. As time passes, the vehicle’s value continues to decrease, while maintenance and storage costs rise, making it more difficult to sell at a favorable price. - Compliance with Financial Regulations
In order to meet financial regulations and improve their balance sheets, banks must reduce the value of non-performing assets like repossessed vehicles. Prompt sales of these assets help banks achieve their financial objectives while minimizing negative impacts. - Auction Market Competition
Repossessed vehicles are sold at auctions, where prices are determined by supply and demand. Due to competition and market dynamics, these vehicles are often priced lower than their market value to ensure a quick sale. - Attracting Buyers
We strive to offer great value to buyers looking for affordable vehicles. The competitive pricing of repossessed vehicles makes them highly attractive to a wide range of buyers, ensuring quick transactions and excellent deals for all. - Reduced Administrative Costs
Banks prefer to sell repossessed vehicles quickly to minimize the administrative costs associated with managing the sale, such as marketing and logistics. This allows them to pass on the savings to buyers through reduced prices.
Our priority has always been to offer high-quality vehicles in order to increase the number of customers we serve.
All vehicles are inspected by certified mechanics before being listed for sale on our platform. We select from our partners only vehicles that are in excellent condition, have never been involved in accidents, and have low mileage.
All prices listed on our platform are inclusive of 21% VAT.
The quality and pricing of the vehicles have led to a significant increase in sales, continuous improvements in supply, and rapid expansion of our services to customers across Europe.
The wide selection of vehicles, lower profit margins, introduction of vouchers, and expanding customer base have resulted in a steady increase in revenue, enabling our company to offer highly competitive prices.
