TopAuto | The big interest rate mistake South Africans make when buying a car

DebtBusters’ numbers show that South African consumers who applied for debt counselling over the past two quarters had an average vehicle asset finance (VAF) interest rate of 15.3%, well above the current prime rate of 11.50% and still higher than the 11.75% that was the norm from May 2023 to September 2024.

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