Motorists will need to earn at least R29,000 per month to afford a Mahindra on a finance plan in South Africa, according to a calculation by TopAuto.
The Indian automaker recently launched its new entry-level vehicle in the form of the XUV 3XO, which is available in eight different specifications.
This includes the base MX2 at R254,999, going all the way up to the AX7L at R404,999.
Every unit is fitted with the same 1.2-litre turbocharged petrol engine, which puts out 82kW and 200Nm.
The front-wheel-drive crossover has a choice of either a six-speed manual or automatic gearbox, which nets a fuel consumption return of 5.3l/100km or 5.6l/100km, respectively.
Shifting focus to its spec sheet, the MX2 comes standard with bi-halogen headlights, 16-inch steel wheels, all-electric windows, a start/stop system, a multifunction steering wheel, automatic aircon, USB ports, a 12V socket, four speakers, and a 9-inch infotainment screen.
The Mahindra also features electronic stability control, rear parking sensors, and six airbags.
Beyond this, customers can add quite a lot to the 3XO depending on the trim level, as the mid-spec MX3 throws in a wireless phone charging pad, cruise control, a sunroof, and a 10.25-inch touchscreen with wired Apple CarPlay and wireless Android Auto.
One tier up is the AX5, which contributes automatic LED headlights, 16-inch alloy rims, rain-sensing wipers, roof rails, auto-folding side mirrors, keyless entry and start, a leather steering wheel, online navigation, a 10.25-inch digital instrument cluster, six speakers, wireless Apple CarPlay, dual-zone climate control, tyre-pressure monitoring, and a rearview camera.
The final upgrades will then add a 360-degree camera, blind-spot monitoring, an auto-dimming rearview mirror, an electronic parking brake, a cooled glove box, larger 17-inch alloys, a panoramic sunroof, a 65W USB charger, a Harman Kardon sound system, and front parking sensors.
The Mahindra XUV is also sold with a 5-year/150,000km warranty and either a 3-year/55,000km or 5-year/150,000km service plan.
What you need to earn
We can use the following formula to work out the monthly payments on the Mahindra:
- Car price – R254,999/R404,999
- Payment term – 60 terms (5 years)
- Interest – 11.50%
- Deposit – 0%
- Balloon – No balloon payment
- Extras – No optional extras
According to this, you’ll need to pay at least R5,703.65 per month for the MX2, or up to R9,002.54 per month for the AX7L.
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 R28,518 per month to R45,012 per month to purchase the new XUV 3XO 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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