These second-hand cars sell for more than you can buy them new
As vehicle manufacturers struggle to meet the demand to fulfil orders, the prices of second-hand cars have skyrocketed, and in some cases, are selling for more used than new.
MyBroadband selected a range of the most popular vehicle models in South Africa to compare the price of new to pre-owned units.
According to TopAuto’s latest report, the most popular cars in South Africa include the Toyota Hilux, Ford Ranger, Volkswagen Polo Vivo, Suzuki Swift, Haval Jolion, and Mahindra Pik Up.
We used these vehicle models for the comparison, and to keep the comparison consistent, we used the following criteria:
- Used car models must match the engine, transmission, and trim specifications; and,
- Used car models must have at least 3,000km of mileage.
We only considered the top five most-expensive second-hand car listings on Autotrader’s platform that matched the above criteria to calculate averaging prices and mileage.
Three of the vehicles compared sell for more on second-hand marketplaces than straight off the dealer’s floor, two of which are double-cab bakkies.
The average price of the Toyota Hilux 2.4 GD6 manual double-cab calculated in our comparison is R586,458 — almost R19,000 more than Toyota’s price tag of R567,600.
Regarding mileage, across the five listings considered for 2023 models, the average was 8,342km.
It is a similar story for the Ford Ranger XLT 2.0-diesel single-turbo double-cab bakkie. According to Ford’s website, the price for the vehicle starts at R626,700.
However, the average second-hand price from our comparison is R29,120 more at R655,800.
The models considered were all delivered in 2022 and had an average mileage of 11,780km.
The only other vehicle compared that is selling for more second-hand than it is new is Haval’s Jolion. However, it should be noted that the difference isn’t as high as it is for the two bakkie models.
We selected the mid-range Premium trim for our comparison. Haval lists the vehicle at R384,950 on its website.
The price of the top five most expensive Haval Jolion Premiums on Autotrader’s platform averages R386,110 — R1,160 more than Haval’s price.
The cars are either 2022 or 2023 models, and their mileage averages 15,876km.
Pictures and pricing for the vehicles considered, as well as a comparison with second-hand prices, are listed below.
Toyota Hilux 2.7 VVTi manual single-cab (petrol) — from R433,100 new
Second-hand option:
- Year: 2022
- Average mileage: 12,266km
- Average price (top five highest): R410,300
Toyota Hilux 2.4 GD6 manual double-cab (diesel) — from R567,600 new
Second-hand option:
- Year: 2023
- Average mileage: 8,342km
- Average price (top five highest): R586,458
Ford Ranger XLT 2.0 single-turbo (diesel) — from R626,700 new
Second-hand option:
- Year: 2022
- Average mileage: 11,780km
- Average price (top five highest): R655,820
Volkswagen Polo Vivo GT (petrol) — from R332,800 new
Second-hand option:
- Year: 2023
- Average mileage: 5,824km
- Average price (top five highest): R318,938
Suzuki Swift 1.2 GLX manual (petrol) — from R232,900 new
Second-hand option:
- Year: 2023
- Average mileage: 5,014km
- Average price (top five highest): R220,620
Haval Jolion 7DCT Premium (petrol) — from R384,950 new
Second-hand option:
- Year: 2022-2023
- Average mileage: 15,876km
- Average price (top five highest): R386,110
Mahindra Pik Up S6 Karoo automatic (diesel) — from R441,999 new
Second-hand option:
- Year: 2022
- Average mileage: 14,939km
- Average price (top five highest): R402,120
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