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