Motorists looking to drive home in the facelifted Kia Seltos will need to earn at least R53,000 per month in order to afford one on a finance plan, according to a calculation by TopAuto.
The updated Seltos roster now consists of eight units, with prices ranging from R467,995 to R626,995 for the flagship GT-Line.
There are three engines to choose from, starting with a 1.5-litre naturally-aspirated petrol plant with 84kW and 144Nm that can connect to either a six-speed manual or a CVT transmission.
There’s also a 1.5-litre turbo-diesel with 85kW and 250Nm, and a 1.5-litre turbo-petrol that mates to a seven-speed dual-clutch gearbox and generates 118kW and 253Nm.
Standard equipment comprises automatic headlights, LED daytime running lights, 16-inch steel wheels, cloth seats, a height-adjustable driver’s seat, keyless entry, a leather multifunction steering wheel, a 4.2-inch digital driver’s display, an 8-inch central screen with wireless Apple CarPlay and Android Auto, six speakers, cruise control, rear parking sensors, a reverse camera, ands six airbags.
Upgrading to the mid-range EX units adds 17-inch alloys, dual-zone climate control, a wireless charger, artificial leather upholstery, push-button start, a 10.25-inch media display, front parking sensors, an electronic parking brake, and hill-start assist.
Those who pick up the EX Plus can also expect LED headlights, a gloss-black grille, 18-inch alloys, and a 10.25-inch driver monitor.
The top-end GT-Line rounds things out with a unique set of bumpers, exclusive 18-inch wheels, and red brake callipers.
Each purchase comes with a 5-year/unlimited-kilometre warranty and a 5-year/90,000km service plan.
What you need to earn
We can use the following formula to work out the monthly payments on the new Kia:
- Car price – R467,995/R626,995
- Payment term – 60 terms (5 years)
- Interest – 11.75%
- Deposit – 0%
- Balloon – No balloon payment
- Extras – No optional extras
According to this, you’ll need to pay at least R10,447 per month to take home the new Seltos, and up to R13,964 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 between R52,235 per month and R69,820 per month to afford the SUV on a finance plan in South Africa.
Note that this figure does not account for insurance, fuel, and maintenance, which must all be factored into your budget.
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