The effects of hefty fuel price increases may take several months to filter through but will almost certainly drive buyers towards more cost-effective vehicles. Park Village Auctions’ (PVA) Clive Lazarus says lower vehicle inflation and reasonable interest rates have had a positive effect on recent car sales figures, and this is expected to continue going forward.
One thing, however, is sure, the overall economy of commercial and passenger vehicles in the mid- to long term will be a greater
deciding factor than it was before. “Consumers understand that while the cost to acquire a car
has improved, new vehicles depreciate substantially as soon as they leave the showroom floor and on-going fuel increases will
directly impact monthly affordability,” says Lazarus. “To satisfy their appetite for a newer set of wheels, buyers are wisely seeking out second-hand vehicles from reputable sources. Genuine bank repossessed vehicle auctions represent an excellent way to do precisely that. Low mileage, relatively new models in every range (often with service plans still in place) are available at lower-than-dealer rates.”
Evidence is the prices fetched at one of PVA’s recent vehicle auctions:
- A 2014 Land Rover Vogue SE
SDV8 (59 949km) sold for R722 500.
- A 2015 Ford Ranger XLS 2.2
(87 636km) sold for R138 000.
- A 2013 BMW 1 18i 5 door (159 035km) sold for R87 000.
“Finance is available and bidders have the added convenience of participating in the auction online,”
says Lazarus. Those interested in purchasing a car at auction can make their way to PVA’s next auction which
is due to start at 10.30am on Wednesday, September 12 2018, at 221 Main Road, Martindale. Vehicles stemming from genuine
bank repossession will be showcased on the day, with viewing available on-site the day before from 9am to 4pm.
For all auction related information, contact Park Village Auctions on 011 789 4375 or go to parkvillageauctions.co.za