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Wednesday / 13 November 2024
HomeFeaturesThe salary you need to earn to afford South Africa’s newest bakkie

The salary you need to earn to afford South Africa’s newest bakkie

Bakkie enthusiasts wanting to pick up the newest model in South Africa will need to earn at least R36,000 per month to afford one, according to a calculation by TopAuto.

The unit in question is the Foton Tunland G7, which has officially gone on sale in South Africa with six specifications to pick from.

This includes one single cab and five double cabs, with prices ranging from R319,900 to R599,900.

All six options are powered by a 2.0-litre turbocharged diesel engine, which produces a total of 120kW and 390Nm.

The two most affordable units are fitted with a six-speed manual gearbox, while the others benefit from an eight-speed automatic shifter.

The Foton can also be had with either a rear-wheel or four-wheel-drive system, and its fuel consumption averages around 7.4l/100km.

Furthermore, the Tunland can tow 3,000kg and carry up to 1,000kg in the load bed.

Depending on the variant, the bakkie will be fitted with a chrome grille, a sunroof, a power inverter, a rear diff lock, 18-inch alloy wheels, a rear sports bar, automatic headlights, and LED daytime running lights.

The equipment sheet is rather expansive, too, as it can include keyless entry and start, electric front seats with heating and ventilation, a wireless charging pad, dual-zone climate control, six speakers, fabric and faux-leather upholstery, a digital driver’s display, and a 12.3-inch infotainment system with onboard navigation, Apple CarPlay, and Android Auto.

Assistance features on the upper-tier variants then include a 360-degree camera, cruise control, hill-hold and descent control, tyre-pressure monitoring, front and rear parking sensors, forward-collision warning, blind-spot detection, door-opening warning, and rear cross-traffic alert.

Each purchase of the Foton comes with a 5-year/unlimited-kilometre warranty, a 3-year/50,000km service plan, and 5-year/unlimited-kilometre roadside assistance.

What you need to earn

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

  • Car price – R319,900R599,900
  • 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 R7,171 per month to purchase the single cab, or up to R13,365 per month for the flagship double cab.

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 R35,855 per month and R66,825 per month to comfortably afford a Tunland G7 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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