{"id":316564,"date":"2019-05-18T18:00:38","date_gmt":"2019-05-18T16:00:38","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=316564"},"modified":"2019-05-17T17:08:56","modified_gmt":"2019-05-17T15:08:56","slug":"these-are-the-best-second-hand-cars-to-buy-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/motoring\/316564\/these-are-the-best-second-hand-cars-to-buy-in-south-africa\/","title":{"rendered":"These are the best second-hand cars to buy in South Africa"},"content":{"rendered":"

In spite of a small uptick in April, the South African new car market remains on the back foot.<\/p>\n

This is according to Jeff Osborne of Gumtree Autos who said that for every new vehicle sold in South Africa, finance houses are funding 2.13 second-hand vehicle sales in the quarter.<\/p>\n

In real terms that number is an under-reporting as it covers formal financing arrangements only and does not include the many private used car trades for cash, he said.<\/p>\n

“In the second-hand vehicle market, 35% of sales recorded by Transunion were for vehicles under two years old, and 10% were demo models, which indicates consumers are continuing to opt for \u201cnewer\u201d previously owned cars.<\/p>\n

“This is the contested space between the new and used car markets. In more bullish times, someone looking at a vehicle less than 24 months old would potentially be disposed towards an upsell into a brand new vehicle.”<\/p>\n

The ‘big four’<\/strong><\/p>\n

The good news for consumers is that Transunion\u2019s Pricing Indices show that both new and used vehicles are becoming cheaper in real terms, said Osborne.<\/p>\n

“Interestingly, in the formal sector recorded by Transunion, brand sales are almost a mirror between new and previously owned.<\/p>\n

“The market share of the ‘big four’ volume passenger vehicle manufacturers \u2013 Volkswagen, Toyota, Ford & Hyundai \u2013 virtually replicates itself in both sectors.<\/p>\n

Volkswagen and Toyota between them carry 39% of new car finance volumes and 35% of used car volumes.<\/p>\n

“The Gumtree Autos site \u2013 which carries many private sellers tells a similar story. Of the nearly 70,000 passenger vehicles listed, around 20,000 (or 29%) are either Volkswagens or Toyotas.”<\/p>\n

This means that buyers are playing it safe. When they buy a new car they have half an eye on its resale value and its resale value is driven in turn by the second hand buyers seeking the re-assurance of a big brand presence, Osborne said.<\/p>\n

“In an economy which officially has a meagre 1.5% growth rate, and which has very low confidence levels, it will be no surprise if South Africa car buyers continue for the rest of 2019 to prefer the value to be found in previously-owned vehicles to the seductions of a shiny new showroom model.”<\/p>\n

According to data published by Autotrader<\/a> <\/strong>in March, the Volkswagen Polo is currently the most searched-for budget car in South Africa.<\/p>\n

The second most popular budget car is the Hyundai i10, followed closely by the Kia Picanto.<\/p>\n

\n

Polo (including Polo Vivo and Cross Polo)<\/strong><\/p>\n

\"\"<\/a><\/p>\n

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Hyundai i10 (including the Grand i10)<\/strong><\/p>\n

\"\"<\/a><\/p>\n

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Kia Picanto<\/strong><\/p>\n

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Ford Figo<\/strong><\/p>\n

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Toyota Etios<\/strong><\/p>\n

\"\"<\/a><\/p>\n

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Suzuki Swift<\/strong><\/p>\n

\"\"<\/a><\/p>\n

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Nissan Micra (incl the Micra Active)<\/strong><\/p>\n

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Honda Brio<\/strong><\/p>\n

\"\"<\/a><\/p>\n

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Renualt Kwid<\/strong><\/p>\n

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Nissan Go!<\/strong><\/p>\n

\"\"<\/a><\/p>\n

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Read: Here are the 10 most searched-for cars in South Africa right now<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

In spite of a small uptick in April, the South African new car market remains on the back foot.<\/p>\n","protected":false},"author":10,"featured_media":155955,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11119],"tags":[5701,26],"class_list":["post-316564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-motoring","tag-gumtree","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/316564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=316564"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/316564\/revisions"}],"predecessor-version":[{"id":316578,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/316564\/revisions\/316578"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/155955"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=316564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=316564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=316564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}