The salary you need to afford the cheapest plug-in hybrid SUV in South Africa

Motorists will need to earn a minimum of R65,000 per month to afford a plug-in hybrid on a finance plan, according to a calculation by TopAuto.

Chery recently launched the new Tiggo 7 Pro CSH, which is the most affordable plug-in hybrid in South Africa at a starting price of R599,900.

The CSH (Chery Super Hybrid) is available in two specifications – Plus and Ultra – both of which feature a 1.5-litre turbocharged petrol engine.

The combustion engine is assisted by an electric motor, resulting in a combined output of 265kW and 310Nm.

Powering the e-motor is an 18.3kWh battery, which affords an all-electric driving range of 93km.

This, in turn, contributes towards a maximum driving range of 1,200km.

Owners can charge the battery using an AC cable, which will top up the cells in four to eight hours.

Alternatively, you can use a DC fast charger, which will replenish the battery in less than an hour.

Also worth noting is that the Chery is front-wheel-drive and features a dedicated hybrid transmission, which helps it to achieve an average fuel consumption of 4.9l/100km.

Standard equipment on both trim levels includes LED headlights and daytime running lights, 18-inch alloy wheels, keyless entry and start, leather upholstery, a six-way electronically adjustable driver’s seat, a leather multifunction steering wheel, a 50W wireless charging pad, dual-zone climate control, and six speakers.

It also comes with 12.3-inch screens on the dashboard for the driver display cluster and infotainment systems, the latter of which supports Apple CarPlay and Android Auto.

On top of this, the Tiggo 7 offers assistance items such as cruise control, blind-spot monitoring, rear cross-traffic alert, a driver monitoring system, front and rear parking sensors, and a 540-degree camera system.

The range-topping Ultra will then add a driver’s seat with memory settings, heated and ventilated front seats, an anti-dazzle rearview mirror, an air purification system, ambient lighting, an eight-speaker Sony stereo, adaptive cruise control, forward collision warning, lane departure warning, emergency lane keeping, high-beam control, traffic congestion assist, and lane change assist.

Each purchase includes a 5-year/150,000km warranty, a 5-year/60,000km service plan, and a 10-year/unlimited-kilometre battery warranty valid for the first owner.

What you need to earn

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

• Car price – R599,900/R679,900
• Payment term – 60 terms (5 years)
• Interest – 10.75%
• Deposit – 0%
• Balloon – No balloon payment
• Extras – No optional extras

According to this, you’ll need to pay at least R13,064 per month for the Plus, and up to R14,793 per month for the Ultra.

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 R65,320 per month to R73,965 per month to afford the Tiggo 7 Pro CSH on a finance plan.

Note that this figure does not account for insurance, fuel, and maintenance, which must all be factored into your budget.