More and more consumers are actively searching the market to get their hands on purchasing a new ride, but with the cost of living so high, when is the right time to buy?
There are very few things in life that bring pleasure like having your own set of wheels. This is often described as one of the ultimate forms of convenience. The reason for this is that it provides individuals the freedom and flexibility to travel on their own schedule, reach places that might have been inaccessible by public transport, as well as maintain a personal level of comfort and privacy while cruising to their destination.
But with the current interest rates fluctuating and the continuous inflation, finding the best time to secure your purchase might be a bit trickier than most would think. One wrong move and you might end up paying an arm and a leg for something that might have cost you a lot less had you just remained a bit more patient.
When is the right time to purchase?
According to the South African financial services group Nedbank, the ideal time to purchase either a brand-new or pre-owned vehicle is at the end of the year.
The reason for this, according to the above-mentioned source, is that manufacturers want to avoid carrying inventory into the following year. This is why they opt to issue various incentives for dealers to sell more new cars.
“This results in more trade-ins as buyers take up new car offers, so there are suddenly a lot more used vehicles available to the market,” claims Nedbank.
Furthermore, the insurance company Naked Insurance supports this claim, adding, “Year-end is prime time for dealerships to offer special discounts, cashback incentives, or low-interest financing options. As they push to meet annual targets, they’re often more willing to negotiate, which can mean significant savings for you on both new and used cars.”
Some added benefits that come with this decision may include extended warranties, free service plans, or even some extra accessories. This increases the value of your purchase and saves you a load of money.
Also see: Why South African Vehicle Insurance Claims Are Being Rejected in 2025
