ABSA Vehicle Auctions Welcomed Amid Rising Used Car Prices
Park Village Auctions is set to host three ABSA vehicle auctions in July, offering a
timely opportunity for buyers in an otherwise challenging used car market.
Recent data shows significant increases in used car prices, with vehicles over three
years old rising between 14.6% and 16.7% on average in Q4 2023. This trend and a
decline in cars financed below R200,000 have made affordable used cars
increasingly scarce.
“With 55% of vehicle financing deals now for cars over R300,000, buyers seek
quality at more accessible price points. Our ABSA auctions deliver exactly that.”
Says PVA’s Clive Lazarus.
The auction schedule is as follows:
9 July 2024, 10 am, ABSA Boksburg, 8 Top Road, Anderbolt. Web reference
- Viewing 5 and 8 July 9 am – 3 pm.
17 July, 10 am. ABSA Durban, Quarry Place, Off Queen Nandi Drive, River
Horse Estate. Web reference: 1586. Viewing 15 and 16 July, 9 am – 3 pm.
18 July, 10 am. ABSA Gqeberha (PE) & Bloemfontein, 142 Burman Road, Deal
Party, and c/o R64 & Valencia Road, Waterbron. Web reference: 1589. Viewing
16 and 17 July 9 am – 3 pm.
All auctions will be conducted via webcast, allowing nationwide participation and
financing options will be available on the auction floor.
Lazarus notes, “These auctions offer a wide range of vehicles, often with remaining
warranty or service plans. It’s an excellent opportunity for buyers to secure reliable
transportation at rates typically lower than traditional dealerships, especially
important given the current market trends.” As all vehicles are sold “as is”, PVA
encourages interested buyers to register early and take advantage of the viewing
days to inspect vehicles in person.
For more information or to register, visit www.parkvillageauctions.co.za using the
respective web references.
