More young women are financing cars — see which makes are their top pick
'Volkswagen's position as the No 1 choice has been a constant, though 14 brands have held a position among the top 10 brands,' said Lightstone Auto.
Ford was the second most popular brand in 2015, but was overtaken by Toyota in 2020 and has since slipped behind Suzuki, which only entered the top 10 in 2020 but has quickly gained favour.
'Nissan has moved between positions four and seven, and is now at number five, while Haval and Chery find themselves in the top 10.'
Luxury brands still hold sway.
'There is a demand for premium brands among younger consumers as Audi and BMW have retained spots in the top 10 over the past decade, though they have slipped slightly from where they were in 2015.'
Younger buyers are also spending more.
'Since 2015 there has been a gradual increase in the average price point at which younger buyers were prepared to finance a vehicle purchase. In 2015 a buyer under 35 was prepared to finance a vehicle purchase at an average of just under R200,000, but in 2025 this has jumped to R321,500.'
The data shows the average price of a used vehicle financed for a woman rose from R172,600 in 2014 to R297,800 in 2024. For new vehicles, the jump was steeper, from R252,000 in 2014 to R440,000 in 2024.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
3 hours ago
- IOL News
The changing landscape of rental applications in South Africa
Discover the latest findings from the PayProp Rental Index, revealing that over a quarter of South African rental applicants are classified as high-risk. This analysis explores the implications for landlords and rental agents in 2025. Image: Independent Newspapers. A detailed risk analysis in the latest PayProp Rental Index highlights a significant challenge for landlords and rental agents: more than a quarter of South African rental applicants were classed as high-risk in Q1 2025. Based on data from the Tenant Assessment Report, PayProp's market-leading tenant screening tool, 26% of prospective tenants fell into the scoring system's highest risk bracket, up from 25% a year ago. Landlords are seeing improved returns from healthy rental price growth in 2025, but it's important not to get complacent. Tenant affordability is lower due to the cost of living in many provinces, and with one in four applicants potentially presenting a payment risk, thorough vetting is non-negotiable. Traditional credit checks offer only part of the picture when it comes to assessing tenant payment reliability, as they score the applicant based on their debt repayment history but often don't take rental payments into account. In contrast, PayProp combines credit scoring with rental payment histories captured from the platform to reveal where tenants fall on the risk spectrum. Analysis by PayProp ahead of a recent training webinar found that it was 94% better at predicting bad tenant behaviour than a traditional credit score when applied to a sample of real tenant data. In Q1 2025, ● 39.6% of lease applicants were rated minimum-risk ● 20.0% were low-risk ● 14.5% were medium-risk ● 26.0% were high-risk Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ This distribution across the risk spectrum suggests that rental applicants are becoming more concentrated at both ends of the risk scale lately, making careful tenant selection more important than ever. Income trumps all as a risk predictor As can be expected, income is the strongest determinant of tenant risk. Among applicants earning R80,000 or more per month, 60.6% were classed as presenting minimum risk and just 12.2% as being high-risk. In the lowest income bracket (R10,000 - R20,000), only 23% qualified as minimum-risk, while 37% were high-risk. Affordability is one of the first things any agent will check, and this helps demonstrate why. It also means that careful vetting is even more essential for lower-priced properties, as applicants are more likely to fall into lower income brackets. However, there are high-risk and low-risk tenants in every income bracket, and using smarter tools helps agents identify low-income, low-affordability tenants who nevertheless have perfect payment records. Youth equals uncertainty Age also plays a clear role. The 20 - 29 age group showed the lowest share of minimum-risk tenants (29.6%), likely due to thinner credit files and shorter rental histories. However, despite being unknown quantities in normal credit scoring terms, this group tends to have more disposable income after debt and rent, making them potentially better prospects than raw scores may suggest. In contrast, 61.3% of applicants over 60 were classified as presenting minimum risk, and tenant risk declined sharply for all age groups over 50, which indicates a pattern likely linked to more stable financial positions and mature credit profiles. Debt dynamics by gender Interestingly, the report finds only slight gender-based differences in tenant risk, despite women earning roughly 80% of what men do, according to Stats SA. 40.1% of men were assessed as minimum-risk, compared to 39.1% of women. One possible explanation is that women spent 3.2% less of their income on debt repayments than men, improving their overall affordability profile.
The South African
4 hours ago
- The South African
SAA's wings in full flight - and profitable!
Following several challenging years, State-owned airline, South African Airways (SAA), is now in a position to contribute economic value. This is according to Transport Minister Barbara Creecy, who presented the departmental Budget Vote in Parliament on Wednesday morning. SAA was racked by allegations of fraud and corruption during the State capture years. It was put under business rescue and grounded but has recovered to fly domestic, continental and international flights. 'With unencumbered assets and renewed profitability, SAA is well-positioned to drive economic value through expanded international services, job creation, and increased contributions to tourism and trade,' Creecy said. Furthermore, the airline is now contributing to the country's Gross Domestic Product (GDP). 'According to [an Oxford Economics Africa] study, SAA contributed R9.1 billion to South Africa's GDP in 2023/24, a figure projected to more than triple to R32.6 billion by 2029/2030. Over the same period, the airline's operations are expected to support 86 700 jobs, up from the current 25 000, demonstrating its growing role as a national employer and economic catalyst. 'The airline has concluded three out of four outstanding audits and reported a profit of R252 million for the 2022/23 financial year for the first time since 2012. Now operating independently and no longer reliant on government guarantees, SAA is self-funding its operations and fleet growth, while remaining open to a strategic equity partner as part of its long-term restructuring,' the Minister highlighted. Creecy revealed that the Airports Company South Africa (ACSA) has been allocated some R21.7 billion for infrastructure development. '[This is] in order to meet our target of moving 42 million passengers per year and increasing air freight handling through the ACSA network of airports. This will improve facilities for passenger safety and comfort over the medium-term and build a new freight terminal at OR Tambo International Airport. 'In addition, we are fast tracking projects to ensure reliable availability of jet fuel to all airlines at all our airports, as well as the general upkeep and upgrading of facilities and technologies at each of our airports to improve both security of passengers and cargo, as well as convenience of airport users,' she said. Creecy told Parliament that the state of roads in South Africa remains an important issue that the department is concerned about, with the South African National Roads Agency (SANRAL) taking over some 3 099 kilometers of provincial roads over the past year. 'Over the period of the MTDP [Medium-Term Development Plan] and beyond, SANRAL has reprioritised within the existing maintenance and capital allocated funding so that these roads are serviced through the Route Road Maintenance Programme,' she said. Creecy also revealed that the driver's licence printing machine is now back in operation. 'The old card machine is currently fixed and we are hard at work to clear out the printing backlog of licence cards. To ensure we have a backup solution, we have signed a MOU with the Government Printing Works. We expect that within three months, this backup solution will be able to print driver's licence cards,' she said. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
TimesLIVE
8 hours ago
- TimesLIVE
F1 talks up Silverstone's ‘forever' future before Starmer meeting
Silverstone circuit could stay on the Formula One calendar forever with no real rival to host the British Grand Prix, the sport's CEO Stefano Domenicali said on Tuesday ahead of this weekend's race. The Italian told reporters he could not imagine a championship without Britain, home to seven of the 10 teams, but there was also no chance of the country having more than one race. "I do believe Silverstone has the right characteristics to stay forever in the calendar," said Domenicali, who will visit Downing Street in London on Wednesday with drivers and team bosses to meet Prime Minister Keir Starmer. "There's no other place where you can develop such a huge event in the UK. I don't see any other places." Silverstone hosted the first world championship race in 1950 and has a contract until 2034. Last year it hosted the biggest crowd of any event on the calendar with 480,000 spectators. Miami and Austria's Red Bull Ring have the longest deals, running to 2041, and Domenicali saw no reason why Silverstone could not join them, though the circuit management had yet to seek an extension. The meeting at Downing Street is billed as an informal celebration of the 75th anniversary of the first F1 championship race at Silverstone, but is also a chance to raise issues the sport wants addressed. Domenicali said he would highlight how much the "F1 ecosystem" contributes to Britain as the beating heart of a global sport, and the risk of losing that primacy due to restrictions on staff and movement. Formula One figures calculate the sport brings £12bn (R290,826,680,000) annually to the UK economy with 6,000 people directly employed and a further 41,000 working in a supply chain of 4,500 companies. The Italian said visa issues post-Brexit had affected the deployment of staff from race to race around Europe, while costly and time-consuming paperwork had complicated logistics and made it harder to draw up the race calendar. "It is impossible to think in the short term that the teams will move out from the UK because of the limitation, but the teams will maybe organise themselves in a different way," he warned. "What we are asking is not to change the decision your country has taken, because it's not our mandate and our role, but to facilitate things that are having a burden on the economical side.
