ShapeShifter, Evergreen Content

The fascinating story of WeBuyCars (and why Naspers is pumping billions into it)

(Also, read: Best age to sell or trade your car in)

WeBuyCars was founded by me and my brother, Dirk, in 2001… I’m the executor… I never procrastinate, while Dirk is the dreamer… We’re a good combo!

Faan van der Walt, WeBuyCars.co.za

I taught in the UK for two years… We saved an amazing amount of money [R300 000]… I bought a house… and with the rest, I funded the business…

Faan van der Walt, WeBuyCars.co.za

The second-hand car space doesn’t have a good reputation at all… as far as our culture is concerned… We don’t hire people from the motor trade…

Faan van der Walt, WeBuyCars.co.za

Faan van der Walt is the founder of WeBuyCars.co.za and WeSellCars.co.za.

WeBuyCars.co.za offers private car sellers the ability to do so through a three-step online procedure.

It offers expert sales advice and secure transactions.

The company comes to a location suitable to the seller, making sales safe and convenient.

For second-hand car buyers, Van der Walt offers a wide range of thoroughly inspected vehicles with the required documentation.

Dealerships also benefit from WeSellCars.co.za’s wholesale prices on a range of stock.

Naspers-owned OLX Group recently invested R1.4 billion in WeBuyCars.

The Money Show’s Bruce Whitfield interviewed Van Der Walt for his weekly “ShapeShifter” feature.

Listen to the interview in the audio below (and scroll down for more quotes from it).

People just don’t have the time to go through the hassle…

Faan van der Walt, WeBuyCars.co.za

My brother and I did everything ourselves… it’s that 10 000 hours thing everybody talks about…

Faan van der Walt, WeBuyCars.co.za

We saw our service levels drop; we were just so busy!

Faan van der Walt, WeBuyCars.co.za

Initially, we only worked in Gauteng… We found ourselves flying to Cape Town ever so often… Right now, we’re all over the country…

Faan van der Walt, WeBuyCars.co.za

[We have] 720 employees…

Faan van der Walt, WeBuyCars.co.za

We’ve taken actual sales data of over 100 000 vehicles… We use that together with book value and market trends… to determine [sales price]…

Faan van der Walt, WeBuyCars.co.za

We trade over 5000 vehicles a month…

Faan van der Walt, WeBuyCars.co.za

Our buyers are thoroughly trained… even if it’s not a reliable vehicle, we’ll still buy it at a certain price… We’ll buy anything!

Faan van der Walt, WeBuyCars.co.za

Yes [when asked if Van Der Walt will stay in control, after the OLX investment].

Faan van der Walt, WeBuyCars.co.za

Cars are in my blood… I leave at six in the morning because I love it!

Faan van der Walt, WeBuyCars.co.za

I drive every single car there is… it’s one of the perks of the job… I love Porches…

Faan van der Walt, WeBuyCars.co.za

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
How to escape the tyranny of 'project-based revenues'

How to escape the tyranny of 'project-based revenues'

The Money Show’s Bruce Whitfield interviews small business guru Pavlo Phitidis, founder of Aurik Business Accelerator.

How this year’s Budget will affect your pocket

How this year’s Budget will affect your pocket

Warren Ingram (Galileo Capital Personal Financial Advisor) critiques this year's budget.

Is EOH corrupt? Is that why Microsoft ran for the hills? Its CEO explains…

Is EOH corrupt? Is that why Microsoft ran for the hills? Its CEO explains…

The Money Show’s Bruce Whitfield interviews Stephen van Coller, CEO at EOH Holdings.

'R23 million for rent a month seems huge. I don't think we could've done better'

'R23 million for rent a month seems huge. I don't think we could've done better'

The Money Show’s Bruce Whitfield interviews Adrian Gore, founder and Group Chief Executive Officer at Discovery Limited.

‘We’d be crazy to copy! Sometimes we get it wrong. There's no culture problem'

‘We’d be crazy to copy! Sometimes we get it wrong. There's no culture problem'

The Money Show’s Bruce Whitfield interviews Ian Moir, CEO at Woolworths.

'Minister Mantashe gave us confidence to inject R6 billion into South Africa'

'Minister Mantashe gave us confidence to inject R6 billion into South Africa'

Bruce Whitfield interviews Anglo American CEO Mark Cutifani about his company’s sound financial results.

Popular articles
How dagga could become a cash cow for South Africa's economy

How dagga could become a cash cow for South Africa's economy

Economist Jee-A van der Linde looks at the impact cannabis export will have on South Africa's dwindling economy.

What happens to our bodies if we cut out sugar

What happens to our bodies if we cut out sugar

Naked Scientist Chris Smith explains.

[WATCH] SANDF members hilariously mess up a supposedly easy practice run

[WATCH] SANDF members hilariously mess up a supposedly easy practice run

Khabazela shares tweets and Facebook posts that have gone viral.

‘We’d be crazy to copy! Sometimes we get it wrong. There's no culture problem'

‘We’d be crazy to copy! Sometimes we get it wrong. There's no culture problem'

The Money Show’s Bruce Whitfield interviews Ian Moir, CEO at Woolworths.

[VIDEO] Muizenberg pedestrian attacked in broad daylight

[VIDEO] Muizenberg pedestrian attacked in broad daylight

A woman was attacked on her way to work earlier this month.

Criminals targeting homes with aluminium windows, warns neighborhood watch

Criminals targeting homes with aluminium windows, warns neighborhood watch

The Panorama, Welgelegen and Plattekloof Neighbourhood Watch has identified a new house break-in trend.

3 emergency numbers you should have on speed dial and how they work

3 emergency numbers you should have on speed dial and how they work

These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.