The salary you need to afford the cheapest 7-seater in South Africa

You will need to earn at least R24,000 per month to afford South Africa’s cheapest seven-seater car on a finance plan, according to a calculation by TopAuto.

Renault recently launched the new Triber, which at a starting price of R218,999, is officially the cheapest multi-purpose vehicle (MPV) in the country.

The Triber’s biggest selling point is, of course, the fact that it can seat up to seven people, but you could also leave the rear seats folded most of the time to gain access to a generous 625-litre boot.

It is available in four specifications, excluding a commercial pan van variant, with three trim levels called the Evolution, the Techno, and the Iconic.

All versions are powered by a 1.0-litre naturally aspirated petrol engine with 52kW and 96Nm, which connects to the front wheels.

Most of them are fitted with a five-speed manual gearbox, but the top-end Iconic does have access to a five-speed automated manual transmission.

In either case, the people carrier consumes an average of 5.5l/100km.

Standard kit on the Renault comprises 14-inch wheels, electric windows, manual air conditioning, a wireless phone charger, cloth seats, Isofix child seat mounts, a 7-inch digital driver display, an 8-inch infotainment screen with Apple CarPlay and Android Auto, six airbags, tyre pressure monitoring, rear parking sensors, and a reverse camera.

Upgrading to the Techno will then add larger 15-inch rims, silver skid plates, LED taillamps, a cooled centre console storage compartment, and a multifunction steering wheel.

Those who grab the Iconic can also expect 15-inch dual-tone wheels, auto-folding side mirrors, LED headlights and daytime running lights, keyless start, wireless smartphone connectivity, front parking sensors, and rain-sensing wipers.

This includes a 5-year/150,000km warranty and a 2-year/30,000km service plan.

What you need to earn

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

• Car price – R218,999/R259,999
• Payment term – 60 terms (5 years)
• Interest – 10.50%
• Deposit – 0%
• Balloon – No balloon payment
• Extras – No optional extras

According to this, you’ll need to pay at least R4,829 per month for the Evolution, and up to R5,716 per month for the Iconic Auto.

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 R24,145 per month to R28,580 per month to afford the new Triber on a finance plan.

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