How much monthly payments are for the top-end Toyota Land Cruiser 300

South Africans planning to buy a top-of-the-range Toyota Land Cruiser 300 using a finance plan will make monthly payments of R34,500 for the SUV.

This is according to a calculation done by TopAuto, which looked at how much financial instalments are for a Land Cruiser 300 GR-S 3.5T.

The GR-S 3.5T version of the new Land Cruiser is the top model on offer, and sells for R1,842,900.

For your money you receive one of the most tried-and-trusted SUV names on the market, which is now packing a 3.5-litre, V6, twin-turbo petrol engine.

Power output comes in at 305kW and 650Nm, and the engine is paired with a new 10-speed automatic transmission with low-range functionalities.

Toyota has also included a long list of standard features across the range, including Apple CarPlay and Android Auto support, parking sensors, a drive mode selector, and crawl control.

Finance payments

To calculate how much you will pay per month when buying a new top-end Land Cruiser using a finance plan, we used the formula below.

• Car Price – R1,842,900
• Payment Term – 60 terms (5 years)
• Interest – 9%
• Deposit – 10%
• Balloon – No balloon payment
• Extras – No optional extras

The result is a monthly car finance payment of R34,500.

The total amount of interest you will pay over the five-year finance plan detailed above will then be R407,400.

This interest amount will of course depend on you maintaining the 9% interest rate on the finance agreement, and this may go up if local interest rates rise.

Income requirements

We can also calculate how much you need to earn to “afford” the Land Cruiser 300 GR-S 3.5T, based on advice from financial experts.

These experts recommend that when buying a car, you must not spend more than 20% of your gross monthly salary on vehicle payments.

In the case of the Land Cruiser 300 GR-S, this means buyers must earn at least R172,500 per month to meet the affordability guideline.

Additionally, buyers must take into account the amount of money they will spend on insurance premiums and fuel.

This will easily come to several thousand rand per month in the case of the new Land Cruiser.