The salary you need to afford JMC’s new bakkie in South Africa

South African bakkie buyers hoping to buy the brand-new JMC Grand Avenue will need to earn at least R57,000 per month to afford the Chinese bakkie on a finance deal, according to a calculation by TopAuto.

The new entry in the competitive local bakkie segment is the brand’s flagship offering, which, according to the manufacturer, “towers over the competition”.

JMC launched two derivatives of the Grand Avenue, including a rear-wheel-drive and an all-wheel-drive variant, with prices starting from R529,900.

For that price, buyers can expect a turbocharged 2.5-litre engine producing 155kW and 500Nm mated to an 8-speed ZF Automatic Transmission.

The result is a 0-100km/h acceleration in 10.4 seconds and an average fuel consumption of only 7.2l/100km, regardless of drivetrain.

Standard features include premium leather seating, wood-touch finishes across the centre console and soft-touch door panels.

The Chinese double-cab also features a 12.3-inch tiltable infotainment touchscreen, adjustable up to 12 degrees towards the driver or front passenger, with wireless Apple CarPlay and Android Auto.

The cabin features Advanced NVH (Noise, Vibration, and Harshness) technology, with a thick acoustic windscreen to ensure a quiet ride, as well as flexible rear seatbacks that fold down for extra storage.

Safety features across the Grand Avenue range include 4-wheel disc brakes and a comprehensive suite of active safety systems, including ABS, Electronic Brakeforce Distribution (EBD), and an Electronic Stability Program (ESP).

What you need to earn

Car shoppers hoping to get their hands on the flagship Chinese bakkie can use the following formula to calculate whether the vehicle would fit their budget:

• Car price – R529,900/R579,900
• Payment term – 60 months (5 years)
• Interest – 10.75%
• Deposit – 0%
• Balloon – No balloon payment
• Extras – No optional extras

This calculation determines that buyers will need to spend at least R11,455 per month for the manual two-wheel-drive JMC Grand Avenue, up to R12,536 per month for the 4×4 variant.

Financial experts also recommend that buyers avoid spending more than 20% of their gross salary on monthly vehicle repayments.

Should you be in the market for the new Chinese bakkie and follow this advice, you will need to earn at least R57,300 per month to afford the entry-level model.

However, if you are in the market for the all-wheel-drive offering, you will instead need to earn at least R62,700 per month, without a deposit or balloon payment.

Buyers looking to purchase either of these bakkies need to realise that these repayments do not include additional vehicle ownership costs, which need to be considered when calculating affordability.

These include, among others, insurance, fuel, and maintenance, which could easily add a few thousand rand per month to your vehicle ownership costs.