Things are beginning to look up in South Africa. With the repo rate cut to 8%, a prime rate of 11.50%, dropping fuel prices and interest rates lowered by 25 basis points, you can’t help but smile. That search for ‘second-hand cars for sale’ that occupied your spare time needn’t stay out of reach. You may be asking yourself, ‘Can I lower the interest rate on my car loan?’ The answer is yes! Reduced interest rates make those big purchases that require financing much more accessible, opening up opportunities for ownership and progress.
But how will repo rate cuts affect your car financing? Where can you find affordable, quality second-hand cars for sale with convenient financing options? Where can you trade in your old car for an upgraded model and get a good deal?
How repo rates affect car instalments
Like a house, a car (be it new or used) is a major expense that most people cannot afford without financing. While you may have saved some money for a deposit, vehicle finance (and getting the best deal) is a prerequisite for buying a car.
The good news is that the reduced repo rate and interest rate allow you to breathe a significant sigh of relief when it comes to instalments on a new or used car. The exact saving will depend on the total loan amount, increasing based on the required loan amount.
So, if you have already been paying off a car or house through finance, your instalments should be bumped down by a few rand based on this exciting news.
And, according to Business Tech, further cuts are expected in November, making the jump to buy a second-hand car for sale that much easier for first-time buyers.
The best place to source affordable second-hand cars for sale
Buying a new car is a simple, yet expensive process that few can afford. However, buying a used car for sale is more accessible but requires a little scrutiny and due diligence on the part of the buyer. With numerous used car dealerships popping up on every corner, promising good prices and quality second-hand cars for sale, how can you know who to trust?
Weelee has been in the game of buying and selling used cars for some time now, becoming a major trusted player in the second-hand car market.
Did you know that you can now buy second-hand cars for sale from our recently launched Weelee Centurion branch?
Here’s why you can trust our Weelee platform in your search for second-hand cars for sale:
- Over 1 000 vehicles to choose from including bakkies, sedans, hatchbacks, SUVs, minivans and commercial vehicles at wholesale prices
- A simple, straightforward car-buying process
- Financing and insurance options from SA’s top service providers on-site at Weelee Centurion for your convenience
- A team of efficient, helpful and knowledgeable sales staff to assist you every step of the way
- Service history and independent condition reports on all available vehicles
- A trusted reputation backed by thousands of independent reviews on Hellopeter.
What trade-in options are available?
Financing a second-hand car for sale can feel like a tedious and overwhelming process – but not with Weelee.
Since we’ve been in the game of offering affordable finance on used cars for some time, we are aware of market conditions and offer reasonable repayment plans to suit your budget (you may even qualify for a payment breather to make the journey to own a car that much easier).
What’s more, you can also sell your old car for the best cash price online or in-store at Weelee. Our unique car-buying model sources a team of car-buying professionals who bid on your vehicle, offering you the best price at the bidding conclusion.
Dealership trade-ins have an unfortunate reputation of giving low-ball offers, but not with Weelee. Our efficient, quick and customer-centric sales process ensures you go home with the best deal possible whether you want to sell, buy or trade-in your car.
Want to test us out? Visit www.weelee.co.za and upload your car details and photos (it’s quicker than you can fill up your car with a tank of petrol) and receive an obligation-free offer.
Own a car today the Weelee way
Buy a second-hand car at below retail prices and unlock affordable vehicle finance to make your car-ownership dreams a reality.