Beat high car prices at Absa’s repo auction
● Park Village Auctions (PVA) has announced the next Johannesburg-based auction of verified Absa repossessed vehicles, where bakkies and small cars will take centre stage.
“Light commercial and passenger vehicles are currently in demand,” says PVA’s Clive Lazarus.
“I suspect this could be due to the soaring prices of new vehicles in this category. We are pleased that the upcoming auction will cater to market demand.”
Using vehicle-sales data from across the industry, the TransUnion SA vehicle pricing index (VPI) measures the relationship between the increase in vehicle pricing for new and used vehicles. The VPI for new vehicles reported a sharp rise in the fourth quarter of 2020 of 9.6%, up from 2.9% in the same period in 2019.
“While new car prices are increasing due to inflation, so are business and household expenses. Budgets are stretched, so used vehicles represent a viable way to acquire a runaround or workhorse,” says Lazarus.
According to Lazarus, the upcoming auction will showcase more than 250 passenger and light commercial vehicles ranging from entry-level hatchbacks to sedans, SUVs, bakkies and light utility vehicles.
The auction will be held entirely online via PVA’s new hybrid format.
Online bidding will open at 10am tomorrow and will continue until the start of the live webcast finale at 10am the following day. Pre-approved finance is available.
A preview of the vehicles, located at the Absa Trade Centre, 8 Top Road, Anderbolt, Boksburg, will be held tomorrow from 9am4pm.
To register, or for more information, visit parkvillageauctions.co.za web reference 705 or call Anna Mahlangu on 011- 789-4375.
For all auction-related information, contact Park Village Auctions on 011-789-4375 or go to www.parkvillageauctions.co.za.