{"id":240203,"date":"2018-04-24T12:19:25","date_gmt":"2018-04-24T10:19:25","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=240203"},"modified":"2018-04-24T13:17:33","modified_gmt":"2018-04-24T11:17:33","slug":"how-much-money-south-africans-spend-when-buying-a-used-car","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/motoring\/240203\/how-much-money-south-africans-spend-when-buying-a-used-car\/","title":{"rendered":"How much money South Africans spend when buying a used car"},"content":{"rendered":"

According to new data published by financial services company Wesbank<\/a><\/strong>, the ‘average joe’ spent R298,225 when buying a new car in South Africa over the last 12 months.<\/p>\n

Wesbank’s data showed a minor uptick in the new vehicle industry in March with a total of 49,233 new vehicles sold \u2013 up 1.1% year on year. Vehicle sales by channel showed dealerships accounted for 42,038 purchases, with rental at 2,608, government at 900, and single sales at 1,308 vehicles.<\/p>\n

Despite this, the number of used vehicles financed by Wesbank still dwarfs new cars at 88,959 applications in March.<\/p>\n

Wesbank finances more than double the number of used cars when compared to new cars, however, the price to finance a second hand vehicle is on the rise.<\/p>\n

Speaking to BusinessTech, the lender said that the average amount financed for a used car over the past 12 months was R203,284<\/strong>.<\/p>\n

While this is R95,000 lower than the average new car price, it’s still more than the cost of many popular new entry-level cars on the market, including Volkswagen’s Polo Vivo and the Ford Figo.<\/p>\n

So what does the \u2018average\u2019 car look like based on this price point? BusinessTech looked at eight options across the major segments based on listings provided by a number of used car websites in South Africa.<\/p>\n

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Renault Duster 1.6 expression –\u00a0R204,800<\/a><\/strong><\/p>\n