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Wednesday / 13 November 2024
HomeFeaturesThe salary you need to afford the new VW Tiguan in South Africa

The salary you need to afford the new VW Tiguan in South Africa

VW fans looking to pick up the brand’s latest SUV will need to earn at least R73,000 per month to afford one on a finance plan, according to a calculation by TopAuto.

The next-gen Tiguan recently hit the market at a starting price of R651,500, which goes all the way up to R834,800 for the R-Line.

Engine choices on the Volkswagen start with a 1.4-litre turbocharged petrol mill, which puts out 110kW and 250Nm while averaging 7.6l/100km.

There’s also a 2.0-litre turbo-diesel block with 110kW and 340Nm, which achieves a more frugal consumption of 6.6l/100km.

All versions of the family car are fitted with a seven-speed dual-clutch automatic gearbox, which connects to either the front wheels or the 4Motion all-wheel-drive system.

Looking at its spec sheet, the base Tiguan comes with 17-inch Bari alloy wheels, Eco-LED headlights, fabric upholstery, a leather multifunction steering wheel with paddle shifters, 10-colour ambient lighting, two USB ports, three-zone climate control, Park Assist Plus, a 10.25-inch digital cockpit, and a 12.9-inch infotainment screen with wireless App Connect.

The mid-range Life units will also throw in electronic auto-folding side mirrors, exterior ambient lighting with illuminated door projections, and LED-Plus headlights.

As for the R-Line, it adds 19-inch Coventry alloy rims, automatic high-beams, R-Line badging, silver roof rails, 30-colour ambient lighting, Sport Varrena leather upholstery with R logos, and Ergo Active seats with power adjustment, massaging, and heating and cooling functions.

Every purchase comes with a 3-year/120,000km 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 Volkswagen:

  • Car price – R651,500/R834,800
  • 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 R14,506 per month if you want to pick up a Tiguan, or up to R18,560 per month if you want the top-spec R-Line.

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 anywhere from R72,530 per month to R92,800 per month to purchase VW’s latest 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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