One of the best ways to get quality vehicles at a bargain is by searching through the auction market. However, when shopping for vehicles in the auction market, it is highly advisable to go for a yard and seller with a good reputation.

This is what will save you the pain of buying mechanically and financially compromised vehicles that end up becoming a curse instead of a blessing.

Locally, the Co-operative Bank has a portal that specializes in vehicle auctions. Through this portal, Co-op Bank welcomes potential buyers to place their bids when vehicles are available.

Currently, the bank has numerous vehicles up for auction with closing dates of up to May 2, 2023.

A spot check by Bizna Kenya shows that the bank is offering tens of vehicles on auction.

Co-op Bank cuts interest rates for personal loans, asset financing

Some of the vehicles that have been placed for auction by Co-op Bank include a 2007 Toyota Fielder, a 2013 Ashok Leyland, a 2021 Massey Ferguson Tractor, a 2008 Toyota Hiace matatu, a 2022 Isuzu FTR, a 2019 Shacman F2000, a 2019 Isuzu NQR, a 2019 Toyota Succeed and a 2021 Isuzu FRR.

Others include a 2015 Mazda Atenza, a 2020 Isuzu FTR, Toyota Premio, Mazda Bongo, Mitsubishi Fuso FIVI, a 2015 Mercedes Benz Actros, and a 2012 Toyota Allion.

CLICK HERE TO VIEW AND PLACE BIDS! 

How to bid

Create your account: You will be required to create an account using your name, id, valid email address and telephone number.

Your account profile: Your profile contains information on the vehicles you have bid, bid amounts and your successful bids.

Bid for a vehicle: Once you have registered and logged in you can view the vehicle you would like to buy and place your bid. You can bid for as many vehicles as you like but only one bid is accepted per vehicle. The bidding window closes after 14 days, once this period lapses you will be unable to place your bid.

Bid acceptance: We will notify you via email if your bid is accepted and provide you the account details to remit your non-refundable bidding fee and bid amount. You will have 1 hour to bank the bidding fee of Sh. 1,000 and a further 24 hours to bank the full bid amount. Payments should be made directly into the bank account provided.

Vehicle release: The bank will confirm receipt of your payment and immediately issue you a letter authorizing release of the vehicle from the yard. You will thereafter collect the logbook and necessary documentation to facilitate transfer of the motor vehicle.