What the average South African pays for a new car right now – and 15 options you can buy for this price

A total of 141,786 South African consumers took out vehicle asset finance (VAF) agreements in the fourth quarter of 2024, revealed credit agency TransUnion’s latest Vehicle Pricing Index.

The average value of these contracts amounted to R401,027, indicating that this is around the price most consumers pay for a new set of wheels.

The mean VAF value stayed relatively consistent during the year as vehicle price inflation eased and market conditions improved.

New-car prices only rose by 1.7% on average in Q4 2024, in comparison to around 2.6% in Q3, 4.4% in Q2, and 4.7% in Q1.

As a result, new VAF agreements grew by 12.7% year-over-year, with Gen X and Millennials accounting for 67% of new agreements.

Meanwhile, Baby Boomer participation continued to decline, representing only 6% of new contracts by the end of Q4 2024.

“Overall, these trends highlight a dynamic and evolving VAF landscape — influenced by demographic shifts, consumer preferences and credit quality improvements,” said Marcia Mayaba, Sales Vice President, Auto Information Services at TransUnion South Africa.

The infographic below details the average VAF loan amount by quarter from 2022 to 2024, as provided by TransUnion:

What’s available

Here are 15 cars available on the new market for in and around the R400,000 price point.

Click on the underlined prices for more information.

GWM Steed 5 2.0VGT Double Cab SX

• Price – R390,150
• Power – 110kW/320Nm
• Fuel consumption – 7.6l/100km
• Warranty – 5-year/100,000km
• Service plan – 3-year/40,000km

Haval Jolion Pro 1.5T Premium

• Price – R391,150
• Power – 105kW/210Nm
• Fuel consumption – 8.1l/100km
• Warranty – 7-year/200,000km
• Service plan – 7-year/75,000km

Kia Sonet 1.5 LX Auto

• Price – R391,995
• Power – 85kW/144Nm
• Fuel consumption – 6.2l/100km
• Warranty – 5-year/unlimited km
• Service plan – 3-year/45,000km

Opel Corsa 1.2T Edition

• Price – R394,900
• Power – 74kW/205Nm
• Fuel consumption – 5.7l/100km
• Warranty – 5-year/100,000km
• Service plan – 3-year/45,000km

Suzuki Jimny 1.5 GL 3-door Manual

• Price – R399,900
• Power – 75kW/130Nm
• Fuel consumption – 6.3l/100km
• Warranty – 5-year/200,000km
• Service plan – 4-year/60,000km

Foton Tunland G7 2.0TD Double Cab TL Manual

• Price – R399,900
• Power – 120kW/390Nm
• Fuel consumption – 8.0l/100km
• Warranty – 5-year/unlimited km
• Service plan – 3-year/50,000km

VW T-Cross 1.0TSI Manual

• Price – R399,900
• Power – 70kW/175Nm
• Fuel consumption – 5.9l/100km
• Warranty – 3-year/120,000km
• Service plan – 3-year/45,000km

Mahindra XUV 3XO 1.2T AX7L

• Price – R404,999
• Power – 82kW/200Nm
• Fuel consumption – 5.6l/100km
• Warranty – 5-year/150,000km
• Service plan – 5-year/100,000km

Peugeot 208 1.2T Allure Manual

• Price – R407,900
• Power – 74kW/205Nm
• Fuel consumption – 5.8l/100km
• Warranty – 5-year/100,000km
• Service plan – 3-year/60,000km

Honda BR-V 1.5 Trend

• Price – R409,000
• Power – 89kW/145Nm
• Fuel consumption – 6.8l/100km
• Warranty – 5-year/200,000km
• Service plan – Optional 4-year/60,000km

JAC T6 2.8TDi Double Cab 4WD Lux

• Price – R409,900
• Power – 68kW/210Nm
• Fuel consumption – 10.5l/100km
• Warranty – 5-year/150,000km
• Service plan – 5-year/100,000km

Nissan Magnite 1.0 Turbo Acenta Plus

• Price – R410,700
• Power – 74kW/152Nm
• Fuel consumption – 6.0l/100km
• Warranty – 6-year/150,000km
• Service plan – 3-year/30,000km

Chery Tiggo 4 Pro 1.5T Elite DCT

• Price – R415,900
• Power – 108kW/210Nm
• Fuel consumption – 6.7l/100km
• Warranty – 5-year/150,000km vehicle + 10-year/1-million km engine
• Service plan – 5-year/60,000km

Toyota Corolla Cross 1.8 Xi

• Price – R414,800
• Power – 103kW/172Nm
• Fuel consumption – 6.8l/100km
• Warranty – 3-year/100,000km
• Service plan – 6-services/90,000km

Hyundai Venue 1.0T Executive

• Price – R419,900
• Power – 88kW/172Nm
• Fuel consumption – 6.9l/100km
• Warranty – 5-year/150,000km vehicle + 7-year/200,000km engine
• Service plan – 3-year/45,000km