'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.

Toyota metal logo up close. Image: 123rf.com

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.



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…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.

This article first appeared on CapeTalk : 'Used car prices are plummeting. Sellers are desperate and willing to negotiate'