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
Want to start a small business? Lessons from a successful serial entrepreneur...

Want to start a small business? Lessons from a successful serial entrepreneur...

The Money Show’s Bruce Whitfield interviews Nic Haralambous, founder (at the cost of R5000!) of funky sock company Nic Harry.

Considering emigration? Financial planner discusses the affordability of leaving

Considering emigration? Financial planner discusses the affordability of leaving

Can you afford to leave South Africa? Certified Financial Planner (CFP) Barry O'Mahony on what to consider before deciding.

'SAA’s collapse plays nicely into hands of a politically constrained Ramaphosa'

'SAA’s collapse plays nicely into hands of a politically constrained Ramaphosa'

After dithering for fear of spending political capital, SAA is now out of the President’s hands, says Pieter du Toit (News24).

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
Considering emigration? Financial planner discusses the affordability of leaving

Considering emigration? Financial planner discusses the affordability of leaving

Can you afford to leave South Africa? Certified Financial Planner (CFP) Barry O'Mahony on what to consider before deciding.

'SAA’s collapse plays nicely into hands of a politically constrained Ramaphosa'

'SAA’s collapse plays nicely into hands of a politically constrained Ramaphosa'

After dithering for fear of spending political capital, SAA is now out of the President’s hands, says Pieter du Toit (News24).

There is no Ubuntu in how Khanya Cekeshe has been treated - Thuli Madonsela

There is no Ubuntu in how Khanya Cekeshe has been treated - Thuli Madonsela

Former public protector says the eight-year sentence was too harsh and it shouldn't matter that he was not a Wits student.

‘South Africans are getting poorer and poorer because of politics’

‘South Africans are getting poorer and poorer because of politics’

SAA is a classic example, says Isaah Mhlanga, Chief Economist at Alexander Forbes Investments.

[VIDEO] People in amusement park thrown off ride in Thailand goes viral

[VIDEO] People in amusement park thrown off ride in Thailand goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Couple dancing in traffic has social media talking

[WATCH] Couple dancing in traffic has social media talking

Khabazela shares tweets and Facebook posts that have gone viral.

How to make your first R1 million (after that it just becomes so much easier)

How to make your first R1 million (after that it just becomes so much easier)

Rich. Wealthy. Financially free... Call it what you will; the first million is how you get there. Warren Ingram on his book...