The salary you need to afford South Africa’s newest Chinese bakkie

You will need to earn at least R84,000 per month to afford South Africa’s newest Chinese bakkie on a finance plan, according to a calculation by TopAuto.

LDV recently announced that the first shipment of the new Terron 9 landed in South Africa, available in two specifications – the Premium and the Flagship – with prices starting at R779,900 and R849,900, respectively.

Both versions are fitted with a 2.5-litre turbocharged diesel engine, which produces an impressive 164kW and 520Nm.

This makes it one of the most powerful double cabs in the country.

The LDV features a four-wheel-drive system and an eight-speed automatic gearbox with a low-range transfer case, which results in an average fuel consumption of 7.9l/100km.

It also has a front and rear diff lock, terrain settings for Mud, Snow, Sand, Tow, Rock, Deep Snow, Deep Mud, and Rock Crawl, and three driving modes for Normal, Eco, and Sport,.

The bakkie can also tow 3,500kg and haul 850kg in the load bin.

In terms of equipment, the Chinese pickup comes standard with automatic LED headlights, daytime running lights, alloy wheels, an electric tailgate, black and chrome accents, rain-sensing wipers, roof rails, side steps, electric side mirrors, a front tow point, a rear tow bar, and cargo slide rails and tie-down hooks.

It also has a unique feature where the rear panel can be opened, granting direct access between the cabin and the load bin.

The cabin has keyless entry and start, a heated leather multifunction steering wheel with paddle shifters, heated front seats, automatic climate control with rear vents, an auto-dimming rearview mirror, a wireless charging pad, a panoramic sunroof, ambient lighting, an eight-speaker stereo, onboard navigation, and two 12.3-inch screens for the driver and infotainment displays.

Adding to this is a driver assistance suite that includes daptive cruise control, a 360-degree camera, automatic emergency braking, blind spot detection, forward collision warning, front and rear parking sensors, hill descent control, lane-keep assist, traction control, and tyre pressure monitoring.

Each purchase comes with a 5-year/200,000 warranty and a 5-year/100,000km service plan.

What you need to earn

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

• Car price – R779,900/R849,900
• 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 R16,761 per month for the Premium, and up to R18,257 per month for the Flagship

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 R83,805 per month to R91,285 per month to afford the Terron 9 on a finance plan.

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