The salary you need to afford the new Toyota Hilux in South Africa

You will need to earn around R72,000 per month to afford the next-gen Toyota Hilux if you decide to finance it, according to a TopAuto calculation.

Toyota South Africa Motors recently unveiled the pricing for the highly anticipated ninth-generation Hilux, which is set to officially go on sale any day now.

The new bakkie’s roster is relatively small, consisting of five double cabs and two Xtra cab units, though more options will undoubtedly be added over time.

These are the options for the new Hilux, as listed by TSAM:

• Toyota Hilux 2.8GD-6 Double Cab SRX – R658,500
• Toyota Hilux 2.8GD-6 Double Cab SRX 4×4 – R746,100
• Toyota Hilux 2.8GD-6 Xtra cab Raider X – R751,800
• Toyota Hilux 2.8GD-6 Xtra cab Raider X 4×4 – R842,200
• Toyota Hilux 2.8GD-6 Double Cab Raider 4×4 – R892,900
• Toyota Hilux 2.8GD-6 Double Cab Legend MHEV – R945,500
• Toyota Hilux 2.8GD-6 Double Cab Legend MHEV 4×4 – R999,900

For now, all of the new models are equipped with the carmaker’s proven 2.8-litre turbocharged diesel engine, which produces 150kW and 500Nm.

There is no manual option, as they are all fitted with a six-speed automatic transmission. However, all of the trim levels are available in either rear-wheel-drive or four-wheel-drive.

In terms of equipment, the base SRX comes with 17-inch steel wheels, a full-sized steel spare wheel, a shark fin antenna, LED headlights, LED daytime running lights, LED front fog lamps, electric side mirrors, and side steps.

The pickup also has electric windows, a lockable glove box, manually-adjustable fabric seats, a vinyl gear stick, a urethane multifunction steering wheel, manual air conditioning, four speakers, a 12V socket, USB C ports, an analogue driver display, and an 8-inch infotainment screen with Apple CarPlay and Android Auto.

Safety fittings include a reverse camera, ABS with brake assist, vehicle stability control, and side, curtain, driver, passenger, and driver knee airbags.

The Raider X models build on this with 17-inch alloys, a front spoiler, rear LED fog lights, keyless start, silver door handles, dual-zone climate control, a leather steering wheel and gearstick, eight speakers, a wireless charger, a larger 12.3-inch touchscreen, a 12.3-inch digital instrument cluster, cruise control, hill descent control, tyre pressure monitoring, and front and rear parking sensors.

Last but not least is the Legend, which throws in rear privacy glass, an electrochromatic rearview mirror, an electronic handbrake, leather upholstery, a nine-speaker JBL stereo, a cooled storage box, an electric driver’s seat, adaptive cruise control, a panoramic camera system, blind spot detection, lane-keep assist, and rear cross-traffic alert.

Each purchase comes with the brand’s standard 3-year/100,000km warranty and a 9-service/90,000km service plan.

What you need to earn

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

• Car price – R658,500/R999,900
• Payment term – 60 months (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 R14,249 per month for the base model, and up to R21,587 per month for the range-topping Legend 4×4.

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 R71,245 per month to R107,935 per month to afford the next-gen Hilux on a finance plan, assuming you don’t pay a deposit.

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