Motorists keen to pick up South Africa’s cheapest Chinese crossover will need to earn at least R32,000 per month to afford one on a finance plan, according to a calculation by TopAuto.
This title currently belongs to the Chery Tiggo 4 Pro, as the automaker recently added a more affordable “LiT” specification that lowered the crossover’s price tag to just R279,900, or R314,900 if you go for an automatic gearbox.
Power is sourced from a 1.5-litre petrol engine with 83kW and 138Nm, which is transmitted to the front wheels.
Buyers have the option of a five-speed manual or a CVT transmission, and fuel consumption ranges between 6.8l and 7.0l/100km.
The stripped-down Tiggo 4 has lost a few features to reach its appealing price point, as it only has two front airbags (losing the side and curtain airbags found on the rest of the series), and it doesn’t come with automatic headlights, a leather steering wheel, artificial leather upholstery, or voice commands.
On the other hand, the crossover still offers plenty of nice-to-haves including 16-inch alloy wheels, LED daytime running lights, hill assist, tyre pressure monitoring, rear parking sensors, a reverse camera, a multifunction steering wheel, a 3.5-inch colour driver display, air conditioning, fabric seats, Bluetooth, four speakers, and a 10.25-inch infotainment screen with Apple CarPlay and Android Auto.
Every purchase of the Chery comes with a 5-year/150,000km warranty, a 3-year/30,000km service plan, a 5-year/unlimited-kilometre roadside assistance 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 Chery:
- Car price – R279,900/R314,900
- 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 R6,287 per month if you want to purchase the Tiggo 4 Pro on a finance plan, or up to R7,061 per month if you want an automatic.
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 a minimum of R31,435 per month to R35,305 per month to pick up a Chinese crossover 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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