South Africans are increasingly buying cars they can’t afford – Experian

More South Africans are falling behind on their car loan repayments.

This is according to the latest Experian Consumer Default Index (CDI).

The deterioration is evident when looking at annual, and monthly figures.

In March 2018, 3.55% of South Africans with car loans defaulted, up from 2.95% in March 2017.

The default rate has deteriorated for six months in a row.

There was a 0.28% year-on-year decline in total credit defaults, despite the increase in defaults on car loan repayments.


Recommended

by NEWSROOM AI
Read More
Prescribed assets: 'Are unions sleeping? Why are they not protecting members?'

Prescribed assets: 'Are unions sleeping? Why are they not protecting members?'

The ANC is eyeing your pension. Bruce Whitfield interviews Warren Ingram, a personal financial advisor at Galileo Capital.

Should Zimbabwe officially join South Africa in a monetary union?

Should Zimbabwe officially join South Africa in a monetary union?

What will happen to the rand if it does? Bruce Whitfield interviews Tim Nhamo, a currency specialist at Ironhead Trading.

South Africans are getting poorer and poorer

South Africans are getting poorer and poorer

It's not your imagination; we’ve lost a decade. Bruce Whitfield interviews Johann van Tonder, a researcher at Momentum.

Household and car insurance - essential cover you can't ignore

Household and car insurance - essential cover you can't ignore

Is the money you have in the bank right now enough to cover all the assets in your home? FNB expert Eunice Sibiya talks all things insurance.

[LISTEN]  Drowning in debt? Support group offers help to overcome money worries

[LISTEN] Drowning in debt? Support group offers help to overcome money worries

Debtors Anonymous was set up to support people who are having difficulties around money.

How to become totally free from debt, forever

How to become totally free from debt, forever

Are you drowning in debt? Kim Potgieter says freedom from it starts with being honest with yourself…

Popular articles
Zondo commission's secretary implicated in Bosasa scandal - report

Zondo commission's secretary implicated in Bosasa scandal - report

Eusebius McKaiser spoke to investigative journalist at News24 Kyle Cowan on the latest developments in the inquiry.

Eusebius: 'We are living in a worse nightmare than we thought'

Eusebius: 'We are living in a worse nightmare than we thought'

Eusebius McKaiser shares his views on the former COO at Bosasa, Angelo Agrizz's testimony at the Zondo Commission.

Transnet receives R6.18 billion back from Chinese rail firm

Transnet receives R6.18 billion back from Chinese rail firm

Investigative Journalist at Amabhungane Susan Comrie says the advance payment was from a totally different contract.

Should Zimbabwe officially join South Africa in a monetary union?

Should Zimbabwe officially join South Africa in a monetary union?

What will happen to the rand if it does? Bruce Whitfield interviews Tim Nhamo, a currency specialist at Ironhead Trading.

South Africans are getting poorer and poorer

South Africans are getting poorer and poorer

It's not your imagination; we’ve lost a decade. Bruce Whitfield interviews Johann van Tonder, a researcher at Momentum.

No more swiping without sweating! Discovery Vitality introduces new swipe system

No more swiping without sweating! Discovery Vitality introduces new swipe system

The health programme piloted a new tag system at the exit points in a bid to crack down on fake gym visits at a few fitness clubs.

[WATCH] Baby hilariously tries to eat mom's burritos

[WATCH] Baby hilariously tries to eat mom's burritos

Khabazela shares tweets and Facebook posts that have gone viral.

Bryan Habana opens up about money, and now having to buy his own clothes

Bryan Habana opens up about money, and now having to buy his own clothes

Bruce Whitfield interviews the legendary Springbok about his attitude toward money (hopes and fears, successes and failures, etc.)