'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.
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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'