USED CAR SALES GET IN GEAR

More choice, even better quality and softer prices in auction vehicles - that's the message from Park Village's car auction specialist Clive Lazarus.

More choice, even better quality and softer prices in auction vehicles - that's the message from Park Village's car auction specialist Clive Lazarus.

The company has just completed its latest sale at which some 300 vehicles were successfully auctioned.

Lazarus describes its recent auction as a "runaway success" which sets the scene for the next sales - on May 13, at Hall 9, Nasrec showgrounds, to be followed by one at the Bank Asset Disposal Centre, Prolecon Road, Prolecon, Johannesburg South on May 20 and another, at Hall 5, also at Nasrec, on May 27.

"At our next three sales we're anticipating something like 800 vehicles in total under the hammer and if present trends continue, we can expect a further near sellout as bidders continue to find value in the auction market," he adds.

Prices realised at a recent sale provide guidelines:

l 2005 Porsche Boxter S R372000

l 2006 BMW X5 3.0D R210000

l 2005 Landrover Range Rover Sport House R282400

l 2008 VW Golf GTI R180000

l 2007 BMW 320i A/T Exclusive R172000

l 2007 Toyota Hilux 2.7 R149000

l 2006 Mitsubishi Pajero Diesel R180000

There are sound reasons for the success of these sales, points out Lazarus.

"There's ongoing demand for everything from executive vehicles to mom's taxis, while another huge factor in my view is the declining interest rate which has made financing of auction vehicles less expensive and more attractive than ever as a buying proposition.

"What's more, the new car dealers are helping our cause in that several have announced price increases for the early part of 2009, further increasing the relevance of bargain priced auction vehicles.

"Contributing to the overall positive picture for auction vehicles is the increased number of vehicles reaching the market."

Whereas previously we were averaging around 220 to 230 vehicles at a given sale, numbers are now up to 300 on average at each sale.

"That's a clear indication that the banks are getting tougher on defaulters and that's bread and butter for those who have the cash for an auction vehicle or who qualify for finance.

"I can't see anything other than continuing buoyancy in the auction market. All this adds up to a positive climate for auction vehicles where, car-for-car, excellent value is to be had and where everything from basic runabouts to luxury vehicles is effectively discounted.

"At the same time, many of the vehicles sold at our auctions are low mileage units, having been sourced from the banks and the fleet management companies and with many carrying the balance of their warranties intact into the new owners' hands. It just keeps getting better for bidders."

lFor further information contact 011-789-4375/6/7 or www.parkvillageauctions.co.za.

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