The salary you need to earn to afford the new Haval H7 in South Africa

Motorists will need to earn at least R66,000 per month in order to afford the new Haval H7 on a finance plan, according to a calculation by TopAuto.

Haval recently launched its new flagship SUV in South Africa with two variants – the Luxury and Super Luxury – which start at R601,950.

However, the brand also intends to introduce a range-topping hybrid electric vehicle (HEV) later this year, which will cost R730,950.

The non-hybrid models are powered by a 2.0-litre turbocharged petrol engine, which produces a total of 170kW and 380Nm.

This connects to a nine-speed, dual-clutch automatic gearbox, leading to an average fuel stat of 8.1l/100km.

The base Luxury is front-wheel drive, but the Super Luxury gains a four-wheel-drive system with terrain and drive settings for Grass/Gravel, Road, Sand, Snow, Mud, Sport, Standard, and Eco.

The 4×4 also gets a rear differential lock, off-road cruise control, and a 540-degree camera with an underbody viewing angle.

The HEV, meanwhile, uses 1.5-litre turbo-block paired with an electric motor, putting out a combined 179kW and 530Nm while averaging 5.2l/100km.

Looking at its design, the H7 features circular LED headlights and daytime running lights, roof rails, and 19-inch alloy wheels.

Inside, there’s an aviator-style gearstick in the centre console, a 12.3-inch digital driver display, and a 14.6-inch touchscreen with wireless Apple CarPlay and Android Auto.

It also comes standard with electronically adjustable front seats, synthetic leather upholstery, automatic climate control, a panoramic sunroof, and an assistance suite comprising adaptive cruise control, traction control, cornering brake control, ABS, emergency brake assist, tyre-pressure monitoring, hill-descent control, and front and rear parking sensors.

The Super Luxury variant then adds to this with ventilated front seats with memory settings, genuine leather seats, a heads-up display, and a hands-free tailgate.

All Haval models are sold with a 7-year/200,000km warranty, a 7-year/75,000km service plan, and 7-year/unlimited-kilometre roadside assistance.

What you need to earn

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

• Car price – R601,950/R730,950
• 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 R13,183 per month for Luxury, all the way up to R15,988 per month for the HEV.

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 R65,915 per month to R70,940 per month to afford the new H7 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.