Finance group WesBank says that a weaker rand and higher oil price are lining motorists up for major pain at the pumps next month.
Wesbank outlines the most important thing to consider before buying your first car.
WesBank has offered some handy advice to individuals who are looking to purchase a used car.
Despite the decision by the SARB to hold interest rates, financing a car is still far more expensive compared to September 2021.
These are all the new vehicles that can be bought on the average salary in South Africa right now.
New vehicle sales have suprised on the upside, but there are signs it may not last.
The price of cars and the cost of owning a one has increased dramactially in South Africa over the years.
The latest South African Banking Risk Information Centre Annual Crime Statistics (Sabric) report shows a drastic increase in the number of fraudulent Vehicles Asset Finance (VAF) applications as well a slight - but felt - increase in home loan fraud.
BusinessTech looked at what you can afford to buy on your monthly salary – based on the assumption that people are not spending more than 25% of their gross monthly income on vehicle financing.
Year-on-year sales comparisons appear to be beginning to show a consistency of trend, indicating some form of stability returning to the new vehicle market, according to financial services firm Wesbank.