
South Africans will need to earn at least R46,000 per month in order to afford the new Toyota Corolla Cross on a finance plan, according to a calculation by TopAuto.
Toyota’s most popular passenger car was recently given a facelift, altering its visuals while also giving it an expanded features list.
The roster now includes a total of seven models ranging in cost from R414,800 up to R561,700.
The updated Corolla boasts a new honeycomb-style front grille, revamped head and taillights, and a new selection of alloy wheels that start at 17 inches in size.
Equipment on the base Xi comprises LED headlights, keyless entry, a multifunction steering wheel, a 4.2-inch driver’s display, a touchscreen with Apple CarPlay and Android Auto, cruise control, a reverse camera, rear parking sensors, hill-assist control, and five airbags.
The mid-range XS units then add to the list with dual-zone climate control, a leather steering wheel, a larger 7-inch driver monitor, a rear-seat armrest, partial leather upholstery, front parking sensors, rain-sensing wipers, and black roof rails.
Positioned above this is the XR, which throws in 18-inch alloys, automatic high beams, a 12.3-inch digital instrument cluster, an anti-dazzle rearview mirror, a hands-free tailgate, a panoramic-view monitor, lane-trace assist, blind-spot monitoring, and rear cross-traffic alert.
Also available are the GR-Sport derivatives, which spice up the car’s design with unique bumpers, GR badges, bespoke suspension, and red interior accents.
The engine selection is the same as before, comprising a 1.8-litre engine with or without hybrid assistance, which links to a CVT transmission.
The regular models generate 103kW and 172Nm while averaging 6.8l/100km, while the electrified units produce 90kW and consume 4.3l/100km.
Unfortunately, Toyota does not disclose the torque statistics of its hybrid vehicles due to the “complexity” of their drivetrains.
Each purchase comes with a 3-year/100,000km warranty and 6-services/90,000km service plan.
What you need to earn
We can use the following formula to work out the monthly payments on the new Toyota:
- Car price – R414,800/R561,700
- Payment term – 60 terms (5 years)
- Interest – 11.25%
- Deposit – 0%
- Balloon – No balloon payment
- Extras – No optional extras
According to this, you’ll need to pay at least R9,166 per month for Xi, all the way up to R11,394 per month for the hybrid GR-Sport.
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 R45,830 per month to R56,970 per month to afford the new Corolla Cross 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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