- Do YOU know what your vehicle is worth?
- Brand and model can influence cash value
- An expert compares two rival bakkie brands
JOHANNESBURG, Gauteng – Toyota Hilux and Ford Ranger – two of the most popular bakkies in South Africa – have for long wrestled for market share. Some people swear by the Hilux, others are die-hard Ford fans.
Now (at least according to a South African vehicle-valuation operation) we have one expert who’s plumped for which is the better when it comes to resale / trade-in time. Darryl Jacobson, MD of True Price, asserts: “This is especially the case when considering high-mileage models.”
True Price has data about thousands of vehicles sold at auction on its system and it can be used to provide free vehicle evaluations to South African auto buyers… and some of the stats are ”extremely interesting statistics”.
Jacobson explains: “We analysed 2015 and 2016 Hilux and Ranger models in three odometer categories: zero to 100 000km, 100 000 to 200 000km and more than 200 000 km. The Hilux out-performed the Ranger in all three categories.”
- In the first category, the Hilux retained 73% of its original price, the Ranger 69%
- In the second, the Hilux retained 62% of its original price, the Ranger 56%
- In the third, the Hilux maintained 68% of its original price, the Ranger 53%
According to Jacobson, resale value should be the most important factor to consider before buying – new or used. ”Most vehicles are depreciating assets – the exceptions are a classic or collector´s car. Simply, the longer you own a vehicle,the less it will be worth.
”Depreciation is the biggest cost factor when it comes to vehicle ownership – far more significant than routine servicing and maintenance – yet some car buyers forget this.”
WHAT IF IT’S WRITTEN-OFF?
The consequences, the guru of prices adds, can be dire.
“You will get a much lower trade-in price that is obvious. However, also consider that the vehicle could be stolen and crashed and written-off. Your insurer will pay only the market-related value.”
But why the difference between Hilux and Ranger? Jacobson asks. ”Each is a great bakkie, surely?”
He says vehicle sales stats confirm this. ”Way more than 30 000 Hiluxes and Rangers were sold in South Africa in 2017 – so each is a terrific buy. However, the Hilux out-performs the Ranger in the resale stakes for a number of reasons.”
‘MOST LOVED’ OR ‘MOST PRAISED’?
Here’s what he says he believes:
Brand image. “Toyota is one of the most loved and trusted brands in South Africa: cjustomers believe they are buying reliability and peace of mind.”
After-sales service. “Toyota has an outstanding reputation for delivering good service at fair prices, there are many franchises and replacement parts are readily available.”
Of the Ranger, Jacobson says:
“The Ranger has been widely praised by the motoring media and buyers but Toyota´s long-standing legacy and reputation are hard to beat.” JAcobson fails to point out, however, that Ford has been in South Africa for more than 100 years, Toyota only since 1936.
Want to check the value of your vehicle? Visit True Price and request a free evaluation.