Don’t miss the used-car feeding frenzy

● Park Village Auctions (PVA) has announced its final passenger vehicle auction for the year, saying buyers can expect enormous savings.

Clive Lazarus, PVA’s head auctioneer, says motorists “can see the writing on the wall” regarding the cost of vehicle ownership in 2024.

While there is some relief at the pumps this month, most forecasts point to rising petrol prices in the near future.

The Automobile Association of South Africa (AA) expects petrol prices to increase an average of 3% in the first quarter of 2024, followed by an increase of 2% in the second quarter.

“Along with rising petrol costs, the Reserve Bank has indicated that it expects inflation to remain above its target range for most of 2024, potentially reaching 6.2% in the second quarter,” Lazarus says.

Citing upcoming strong growth forecasts for usedcar sales in the new year, he said this was an opportune time to “acquire new wheels while the going is good”.

“Savvy buyers will take advantage of December bonuses and better-than-dealer prices available at auctions to get their hands on fuel-efficient, late-model vehicles.

“Used cars are significantly more affordable than new ones, attracting budget-conscious buyers.

“The quality of used cars — our genuine bank-repossessed vehicles in particular — has also improved tremendously, making them a reliable choice for many buyers. As such, the growing demand for stock will invariably lead to higher prices.

“We have secured hundreds of vehicles from leading financial institutions, including Standard Bank, BMW Finance and Absa, as well as liquidators, executors and business rescue practitioners.

“I’m certain the final vehicle auction of the year will be nothing short of a feeding frenzy.”

PVA’s national vehicle auction will be a live webcast, enabling anyone in South Africa to participate online in real-time.

Buyers are encouraged to view the vehicles in person or send a trusted representative to the viewings tomorrow at the following locations:

● 221 Main Road, Martindale, Johannesburg;

● Quarry Place, off Queen Nandi Drive, River Horse Estate, Durban;

● Corner R64 & Valentia Road, Waterbron, Bloemfontein; and

● Absa Vehicle & Asset Finance Trade Centre, 142 Burman Road, Deal Party, Gqeberha.

The sale starts at 10am on Tuesday. Participants can register at www.parkvillageauctions.co.za under web reference number 1434.

For all auction-related information, contact Park Village Auctions on 011-7894375 or go to www.parkvillageauctions.co.za

We have secured hundreds of vehicles from leading financial institutions, including Standard Bank, BMW Finance and Absa, as well as liquidators, executors and business rescue practitioners