The salary you need to afford the new Toyota Corolla Cross in South Africa

You will need to earn at least R58,000 per month to afford the new Toyota Corolla Cross GR-Sport on a finance plan, according to a calculation by TopAuto.

Toyota recently launched the facelifted GR-Sport, which is positioned as the flagship of the popular SUV series.

It is available with either a petrol or hybrid powertrain, with prices starting at R527,000 and R569,700, respectively.

The standard version is equipped with a 1.8-litre naturally aspirated petrol engine, which develops 103kW and 172Nm.

Power is sent to the front wheels via a continuously variable transmission (CVT), resulting in an average fuel consumption of 6.7l/100km.

The alternative is the hybrid electric vehicle (HEV), which pairs the 1.8-litre engine with a small electric motor that improves its efficiency.

The HEV produces 90kW. However, Toyota doesn’t disclose the combined torque stats for its hybrids, so we only know that the engine generates 142Nm on its own.

The benefit of the hybrid is obviously its frugal consumption, which works out to just 4.3l/100km.

The GR-Sport also benefits from bespoke Gazoo Racing shock absorbers, and tweaked steering and suspension designed to provide a sportier, more responsive drive.

The flagship Corolla Cross sets itself apart from the regular models thanks to a black mesh grille, LED headlights, 18-inch alloy wheels, and exclusive GR badges.

Inside, it has black leather upholstery with red stitching, red seatbelts, and GR branding on components like the keyless start button.

The leather multifunction steering wheel has paddle shifters, and the pedals are made of aluminium.

Other features include a 10.1-inch infotainment screen with smartphone pairing, a 12.3-inch digital driver display, a 360-degree camera, automatic climate control, blind-spot detection, parking sensors, cruise control, and rear cross-traffic alert.

Each purchase comes with a 3-year/100,000km warranty and a 6-service/90,000km service plan. The hybrid version also receives an 8-year/160,000km battery warranty.

What you need to earn

We can use the following formula to work out the monthly payments on the new Toyota:

• Car price – R527,000/R569,700
• Payment term – 60 terms (5 years)
• Interest – 10.25%
• Deposit – 0%
• Balloon – No balloon payment
• Extras – No optional extras

According to this, you’ll need to pay at least R11,752 per month for the standard model, and up to R12,697 per month for the HEV.

Financial experts then recommend that you do not spend more than 20% of your gross monthly salary on vehicle payments.

This means you’ll need to earn anywhere from R58,760 per month to R63,485 per month to afford the Across on a finance plan.

Note that this figure does not account for insurance, fuel, and maintenance, which must all be factored into your budget.