The salary you need to afford the new VW Polo in South Africa

If you are interested in buying VW’s special edition Polo GTI, the Edition 20, a calculation by TopAuto determined that you will need to earn at least R65,000 per month to afford it on a finance plan.

The locally-built Polo is one of South Africa’s favourite hatchbacks, and the GTI variant represents the pinnacle of the line-up, while the Edition 20 takes its exclusivity a step further.

As the most expensive GTI Polo, the Edition 20 is nearly R20,000 more expensive than the standard Polo GTI, priced at R605,700.

For this price, buyers can expect the same drivetrain and configuration found in other current-generation GTI models.

In this setup, the Edition 20 is fitted with the familiar 2.0-litre turbocharged petrol motor, which lets the hot hatch produce 147kW and 320Nm.

This power is distributed via a six-speed automatic transmission to its front wheels, and allows the hot hatch to reach 100km/h in only 6.7 seconds before it tops out at 238km/h.

As a cosmetic upgrade, the Edition 20 features an updated interior and exterior look.

Potential buyers will be able to choose from one of three unique colours, namely Cristal Ice Blue Metallic, Kings Red Metallic, or Ascot Grey.

Continuing the new-look exterior are features from the GTI’s Black package, which includes a black roof and exterior mirror housings, as well as exclusive “20” front and rear door decals.

It has also been fitted with 18-inch Faro alloy wheels as standard, and a rear diffuser in the Kings Red finish for the Cristal Ice Blue and Ascot Grey options.

Inside, VW added leather seats with a red vinyl finish and trim, door panel inserts, and special “20 GTI” dashboard decals. The “20 GTI” embroidery continues on the front floormats, but not in the back.

VW also fitted the Edition 20 with privacy glass from the B-pillar backwards, and includes the rear glass.

What you need to earn

The following formula can be used to work out the monthly repayments on a special-edition VW Polo GTI:

• Car price – R605,700
• Payment term – 60 terms (5 years)
• Interest – 10.25%
• Deposit – 0%
• Balloon – No balloon payment
• Extras – No optional extras

According to this calculation, you would need to pay at least R13,038.77 per month for the VW Polo GTI Edition 20.

Because financial experts recommend that you do not spend more than 20% of your gross monthly salary on vehicle payments, you will need to earn at least R65,500 per month to afford it on a finance plan.

It must be noted that the calculation does not account for other vehicle ownership expenses, including insurance, fuel, and maintenance, which must all be factored into your budget.