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The salary you need to afford the new Jaecoo J7 in South Africa

Motorists keen to get their hands on South Africa’s newest car brand will need to earn at least R62,000 per month to afford a model on a finance plan, according to a calculation by TopAuto.

The newcomer in question is Jaecoo, the second sub-brand to come from Chinese automaker Chery, which has made its local debut with its first car, the J7 SUV.

The J7 is available in three specifications – Vortex, Glacier, and Inferno – which start at R549,999, R599,999, and R679,999, respectively.

All three units are powered by the same 1.6-litre turbocharged petrol plant with 145kW and 290Nm, which connects to a seven-speed automatic gearbox.

The flagship Inferno features an all-wheel-drive (AWD) layout while the other two are front-wheel drive, and all of them have the same listed fuel consumption of 7.5l/100km.

Every J7 comes with driving modes for Eco, Normal, and Sport, and the AWD units additionally feature settings for Mud, Off-Road, Sand, and Snow.

Standard equipment across the range comprises automatic LED lights, rain-sensing wipers, keyless entry and start, 18-inch alloy wheels, dual-zone climate control, leather upholstery, electric front seats, an eight-speaker Sony stereo, ambient lighting, a 50W wireless smartphone charger, a 360-degree camera system, front parking sensors, an electric tailgate, a 10.25-inch digital driver’s display, a 13.2-inch  infotainment screen, wireless Apple CarPlay and Android Auto, and offline navigation.

Upgrading to the mid-range Glacier will add a panoramic sunroof, ventilated and heated front seats, a heads-up display, intelligent high-beam assist, adaptive cruise control, blind-spot detection, rear cross-traffic alert, lane-change assist, automatic emergency braking, door-opening warning, child detection, 19-inch alloys, and a larger 14.8-inch media screen.

The only item the Inferno adds is a heated steering wheel, as its higher price is mainly attributed to its AWD layout.

Each purchase includes a 5-year/150,000km warranty, a 4-year/70,000km service plan, and a 10-year/1-million kilometre engine warranty.

What you need to earn

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

  • Car price – R549,999/R599,999/R679,999
  • Payment term – 60 terms (5 years)
  • Interest – 11.75%
  • Deposit – 0%
  • Balloon – No balloon payment
  • Extras – No optional extras

Based on this, buyers will need to spend at least R12,260 per month to afford the base J7, R13,366 per month for the mid-range unit, and R15,136 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.

In other words, you will need to earn at least R61,300 per month for the Vortex, R66,830 per month for the Glacier, and R75,680 per month for the Inferno.

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


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