Auctions Satisfy Market Demand for Quality, Affordable Used Vehicles
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.
So says Park Village Auctions’ Clive Lazarus, who adds that 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.
Lazarus “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.
“To satisfy their appetite for a newer set of wheels wisely, buyers are seeking out second-hand vehicles from reputable sources. Genuine bank repossessed vehicle auctions represent an excellent way to do precisely that.
Low mileage, relative new models in every range (often with service plans still in place) are made available at lower-than-dealer rates on the regular.”
Evidence of which can be seen in the prices fetched at one of PVA’s recent vehicle auctions on the 20th of August.
- A 2014 Land Rover Vogue SE SDV8 (59 949km’s) sold for R722 500
- A 2015 Ford Ranger XLS 2.2 (87 636km’s) sold for R138 000
- A 2013 BMW 1 18i 5 door (159 035km’s) sold for R87 000
“Finance is available on the floor and what’s more is that bidders have the added convenience of participating in the auction online –meaning the car you are looking for is no more than a few clicks away.” Adds Lazarus.
Those interested in purchasing a car at auction or who simply want to see what the auction market has to offer should make their way to PVA’s next car auction which is due to commence at 10.30am on Wednesday the 12th of September at 221 Main Road, Martindale.
All manner of vehicles stemming from genuine bank repossession matters will be showcased on the day with viewing available on-site the day before from 9 am to 4 pm.