The salary you need to afford the cheapest automatic crossover in South Africa

South Africans who want to drive an automatic crossover will need to earn at least R28,000 per month if they plan to purchase one on a finance plan, according to a calculation by TopAuto.

The cheapest mini-SUV in the country with an automatic transmission is the new Nissan Magnite EZ-Shift, which comes in three trim levels and retails from R243,900 to R279,900.

It uses a five-speed automated manual (AMT) gearshift to link the front wheels to a 1.0-litre petrol engine with 53kW and 96Nm, netting a fuel consumption of 5.9l/100km in the process.

On the equipment front, the base Visia models include 16-inch steel rims with plastic covers, a Bluetooth stereo, a push-start button, a multifunction steering wheel, automatic air conditioning, electric folding mirrors, rear parking sensors, ABS, and two airbags.

Getting the mid-range Acenta will also provide keyless entry, a reverse camera, ISOFIX child-seat anchors, LED daytime running lights, 16-inch two-tone alloy wheels, and an 8-inch infotainment system with Apple CarPlay and Android Auto.

The top-end Acenta Plus then rounds things out with an all-round camera system and LED headlights.

What you need to earn

We can use the following formula to work out the monthly payments on the new Nissan Magnite EZ-Shift:

• Car price –  R243,900/R279,900
• Payment term – 60 terms (5 years)
• Interest – 11.75%
• Deposit – 0%
• Balloon – No balloon payment
• Extras – No optional extras

According to this, buyers will need to pay at least R5,490 per month if they want the EZ-Shift, and up to R6,287 per month if they want the range-topping entry.

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 at least R27,450 per month to afford an automatic crossover in South Africa, and R31,435 per month to pick up the best version available.

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