47 cars seized by the Bank of Cyprus will go on auction in Mosphiloti on Tuesday. Prices start at €200 and go up to €7,100. There is a variety of different cars, big and small, including a Porsche Cayenne. Cars that are old and therefore particularly cheap, offer a good deal for spare car parts dealers. For example, one can buy a 2007 Toyota Auris D for €4,100, an immobilised 2011 Renault Megane for €3,800 and a 2004 Mercedes E200 for €3,500.
Some of the cars no longer have a registration licence, which means that the buyer will be charged with re-registration and road tax fees. These cars are particularly cheap: for example a Jaguar X- Type from 2002, can be bought for only €300.
The vehicles came into possession of BoC by court order after owners failed to pay their debts.