R14,000 per month for a new French bakkie in South Africa

Bakkie buyers in South Africa looking to buy the more powerful new Peugeot Landtrek will need to earn at least R72,000 per month to afford its R14,000 monthly repayments, according to a calculation by TopAuto.

The French carmaker recently introduced two new models – a two-wheel-drive and an all-wheel-drive variant – with upgraded powertrains and new driver-assistance technologies.

Despite fitting these two derivatives with a 2.2-litre Multijet turbodiesel engine instead of the familiar 1.9-litre version, Peugeot has kept the pricing unchanged.

That means the new models retail for between R666,900 and R759,900, depending on their spec, but produce the same 147kW and 450Nm, which is 37kW more power and 100Nm more torque than the 1.9-litre.

This power uprating has resulted in greater towing capacity, with the new models rated to tow 3,500kg braked instead of 3,000kg.

“We know our customers rely on their bakkies every day, so we’ve focused on the updates that will make the biggest difference in how they use them,” said Moeketsi Mapogo, Brand Head: Pro One LCV at Stellantis South Africa.

Both of the new models are the top-spec in their respective drivetrain configurations, and have been upgraded to reflect that.

Both models boast an updated digital instrument cluster and 10-inch infotainment system, which includes wireless Apple CarPlay and Android Auto.

They also include 18-inch wheels, leather seats, a 360-degree camera and tyre pressure monitor, while Peugeot has also added an electronic parking brake.

The 2.2-litre models also feature new driver-assistance technologies, including Lane Departure Warning, Adaptive Cruise Control and Blind Spot Detection, to inspire greater driving confidence.

What you need to earn

Households looking to get their hands on the new flagship French bakkies can use the following formula to calculate whether the vehicle would fit their budget:

• Car price – R666,900/R759,900
• Payment term – 60 months (5 years)
• Interest – 10.75%
• Deposit – 0%
• Balloon – No balloon payment
• Extras – No optional extras

According to this calculation, buyers will need to spend at least R14,417 per month on the two-wheel-drive Peugeot Landtrek Allure 4×2, up to R16,427 per month for the 4Action 4×4 variant.

Financial experts then recommend that buyers not spend more than 20% of their gross salary on monthly vehicle repayments.

Should a buyer be in the market for one of these new bakkies and follow this advice, they will need to earn at least R72,100 per month to afford the two-wheel-drive model.

However, should they be shopping for the all-wheel-drive offering, they will need to earn at least R82,150 per month, without a deposit or balloon payment.

Buyers looking to purchase either of these bakkies need to realise these repayments do not include additional vehicle ownership costs, which must be considered when calculating affordability.

These include, among others, insurance, fuel, and maintenance, which could easily add a few thousand rand per month to your vehicle ownership costs.