Motorists looking to get their hands on the new Toyota Prado will need to earn at least R144,000 per month in order to afford one, according to a calculation by TopAuto.
The next-gen SUV is finally on sale in South Africa with a hefty price tag that ranges from R1,296,300 to R1,462,400.
All members of the Prado family are powered by a 2.8-litre, turbo-diesel engine with 150kW and 500Nm, which connects to an eight-speed automatic gearbox and permanent all-wheel-drive system with a rear diff lock.
Regardless of the chosen trim, the SUV features automatic LED headlights, 18-inch alloy wheels, keyless entry and start, leather upholstery, an electronic driver’s seat, heated and ventilated front seats with lumbar support, a multifunction steering wheel, dual-zone climate control, an electric tailgate, a 7.0-inch digital driver’s display, and an 8.0-inch infotainment screen with Apple CarPlay, Android Auto, and six speakers.
This is on top of adaptive cruise control, vehicle stability control, rear cross-traffic alert, tyre-pressure monitoring, blind-spot monitoring, hill descent control, front and rear parking sensors, a reverse camera, traction control, brake assist, and lane-keep assist.
Those who spring for the flagship VX-R units can also expect a central diff lock, a digital rearview mirror, a heated steering wheel, an electric front passenger seat, heated and ventilated second-row chairs, electronically folding third-row seats, 10 speakers, a wireless charger, a moonroof, a refrigerated storage bin, and two 12.3-inches screens.
Early adopters can pick up the First Edition trim as well, which features unique circular headlamps, mud flaps, roof rails, badges, and a two-tone exterior.
The Toyota Prado is sold with a 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 – R1,296,300/R1,462,400.
- 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 R28,768 per month to purchase the Prado, or up to R32,442 per month for the best possible version.
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 R143,840 per month and R162,210 per month to afford a new Prado 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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