'Used car prices are plummeting. Sellers are desperate and willing to negotiate'
Used cars – it’s a buyers’ market, says motoring journalist Ciro de Siena.
If you’re looking to buy – and you have the money, now is the time.
The average price of a used Ford Ranger – South Africa’s most popular pre-owned vehicle – has fallen by R10 263 (with mileage less than 90 000 kilometres) between March and May, according to Sunday Times.
In May, a Toyota Corolla with about 90 000 kilometres on the clock cost you, on average, R44 184 less than in March.
Pippa Hudson interviewed De Siena.
…The average prices of key models [used] in South Africa such as Toyota Corolla and Hilux have dropped…Ciro De Siena, motoring journalist
According to AutoTrader, the prices of key used models – such as the Toyota Corolla - have dropped by as much as R40 000… that is to be expected.Ciro De Siena, motoring journalist
A lot of motorists are desperate to get out of their cars and willing to take a lower price… If you are able to buy a car, this is a particularly good time… In the used-car market, most sellers are willing to negotiate at the moment.Ciro De Siena, motoring journalist
I don’t see prices recovering, probably into 2022…Ciro De Siena, motoring journalist
Listen to the interview in the audio below.
The bank is one of only six in the world to be recognised in this way for outstanding performance during the global health crisis.Read More
Everything is done electronically – you never have to leave your home, says Mortgage Me’s Andrea Tucker.Read More
[EXPLAINED] The Money Show’s Bruce Whitfield interviews Craig Wilson, Editor at Stuff Magazine.Read More
Shoprite is exiting the oil-rich but spending-money-poor nation. Bruce Whitfield interviews Dianna Games (Africa At Work).Read More
The Money Show’s Bruce Whitfield interviews Natascha Viljoen, CEO at Amplats.Read More
It still argues that the lockdown, not the pandemic, is responsible for its clients’ losses. Bruce Whitfield interviews its CEO.Read More
As widely expected, Sarb Governor Lesetja Kganyago announced a repo rate cut of 25 basis points on Thursday.Read More
"Consumers who are in debt have received a huge bonanza," says Econometrix Chief Economist Dr Azar Jammine.Read More
"This case shows rogue officials at Sars that the courts protect taxpayers," says tax attorney Jean-Louis Nel (Tax Consulting SA).Read More
South Africa has become poorer, says property economist Erwin Rode. If you force a tenant out, who will you replace her with?Read More