The salary you need to afford the new Omoda C7 in South Africa

You will need to earn at least R59,000 per month to afford the new Omoda C7 on a finance plan, according to a calculation by TopAuto.

The C7 is the latest model in Omoda’s South African roster, slotting in as the mid-range option between the C5 and the C9.

It is available in three specifications, and prices range from R539,900 to R689,900.

The first two models, the Luxury and Elegance, are equipped with a 1.6-litre turbocharged petrol engine good for 145kW and 290Nm.

This is sent to the front wheels via a seven-speed dual-clutch automatic transmission, leading to an average fuel consumption of 7.5l/100km.

The range-topping SHS (Super Hybrid System) uses a smaller 1.5-litre turbo-petrol mill, but this is assisted by an electric motor.

Consequently, the hybrid has significantly more power with 255kW and 525Nm.

The e-motor runs off an 18.4kWh battery, which gives an electric range of 105km.

Achieving an 80% charge can be done in just 20 minutes when using a 40kW DC fast charger, but you can also use a 6.6kWh plug that will get the job done in around two hours and 40 minutes.

Standard kit on the SUV includes 19-inch alloy wheels, automatic LED headlights, LED daytime running lights, keyless entry and start, leather upholstery, a multifunction steering wheel, electric front seats with heating and ventilation, a digital driver display, a 50W wireless charging pad, dual-zone climate control, ambient lighting, a sunroof, an eight-speaker Sony stereo, and a 15.6-inch infotainment screen with Apple CarPlay and Android Auto.

It also features an advanced driver assistance suite, including a 540-degree camera system, parking sensors, adaptive cruise control, blind spot detection, rear cross-traffic alert, lane departure warning, speed limit assist, traffic jam assist, automatic emergency braking, and emergency lane-keeping.

The petrol models are sold with a 5-year/150,000km warranty, a 5-year/75,000km service plan, and a 10-year/1-million kilometre engine warranty valid for the first owner.

The SHS comes with a longer 7-year/200,000km warranty and an additional 10-year/unlimited-kilometre battery warranty.

What you need to earn

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

• Car price – R539,900/R689,900
• Payment term – 60 terms (5 years)
• Interest – 10.50%
• Deposit – 0%
• Balloon – No balloon payment
• Extras – No optional extras

According to this, you’ll need to pay at least R11,700 per month for the Luxury, and up to R14,924 per month for the SHS.

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 R58,500 per month to R74,620 per month to afford the new C7 on a finance plan.

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