The salary you need to afford the new Suzuki Swift in South Africa

Motorists need to earn at least R25,000 per month in order to afford the new Suzuki Swift on a finance plan, according to a calculation by TopAuto.

The Swift has officially entered its fourth generation and is now on sale in South Africa in five specifications, with prices ranging from R219,900 to R284,900.

Every version of the hatchback is equipped with a three-cylinder, 1.2-litre petrol engine, which produces 60kW and 112Nm.

This can be paired with either a five-speed manual or a CVT transmission, with fuel consumption typically ranging from 4.4l to 4.6l/100km.

Equipment on the Suzuki is spread across three trim levels, starting with the entry-spec GL.

This unit comes with 14-inch steel wheels, LED taillamps, electronically adjustable side mirrors, all-electric windows, a height-adjustable driver’s seat, manual aircon with digital settings, an immobilizer and alarm, Isofix child-seat mounts, electronic stability control, hill control, emergency brake assist, and rear parking sensors.

The mid-range GL+ also contributes 15-inch alloy rims, a multifunction steering wheel, a 7-inch infotainment system with Apple CarPlay and Android Auto, and a rearview camera.

Anyone who grabs the top-end GLX, meanwhile, can expect automatic LED headlights, LED daytime running lights, LED fog lamps, auto-folding wing mirrors, unique 15-inch alloys, automatic air conditioning, a leather steering wheel, cruise control, and a bigger 9.0-inch media system.

What you need to earn

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

• Car price – R219,900/R284,900
• 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 R4,932 per month for the base GL, or up to R6,361 per month for the top-spec GLX.

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 R24,660 per month to R31,805 per month to afford the Suzuki 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.