Timing can make or break your car deal in South Africa. Knowing when to buy or sell could save you thousands and ensure you get the best value. Experts say understanding market trends and dealer strategies is key.
When is the Best Time to Buy?
The end of the year is prime time for car buyers. Manufacturers aim to clear inventory before the new year, offering buyers better deals and more options. “Dealers are keen to meet annual sales targets, making it an excellent time to negotiate,” says Rikus Blomerus, Chief Marketing Officer at WeBuyCars.
Ernest North, co-founder of Naked, adds that dealers want to sell their 2023 demo models to make way for 2024 stock. This creates opportunities for buyers to snag high-demand vehicles at competitive prices.
The last few weeks of December often bring the steepest discounts, making it the best time to score a bargain on new wheels.
Best Time to Sell Your Car
Selling, however, is better at the start of the year, according to a report by TopAuto. Dealers often refresh their showrooms and are willing to offer better trade-in deals during this period.
Blomerus advises that January is when dealers look to restock, making them more likely to pay top prices for trade-ins. North warns that registering your car at the end of the year can hurt its resale value, as it’s considered a year older.
For South Africans with December bonuses, the new year also brings the chance to put down a larger deposit on a replacement vehicle, maximizing their buying power.
What to Consider When Trading In
Timing the trade-in of your car requires balancing several factors to ensure you get the best value. Selling before your car ages another year can improve its resale value, as newer vehicles often attract higher prices. It’s also wise to wait until the trade-in value exceeds the settlement amount on your car loan to avoid losses.
A car with an active warranty or service plan will typically fetch a better price since it gives buyers peace of mind. Additionally, trading in your vehicle before a new model or facelift version hits the market can help retain its appeal, as older models often lose value once newer ones are available.
The Balancing Act
For many South Africans, selling a current car to fund the next one means navigating conflicting timelines. By understanding market cycles, planning strategically, and leveraging dealer incentives, you can make smart decisions and drive away with a deal that works best for you.
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