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Sunday / 14 July 2024
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How much the monthly payments are on a new Kia Sonet

Kia’s new Sonet mini-SUV is set at an attractive price point for the local market – with those looking to take out a vehicle finance plan needing around R5,500 per month to buy the car.

The Sonet packs a range of features into its compact body, and marks Kia’s entry into the B-SUV segment in South Africa.

“The Sonet fulfils an important role in Kia’s local line-up, and is well positioned to attract a large number of customers who value design, comfort, and quality,” said Kia South Africa.

Standard features include 1.5-litre MPI petrol engine that puts out 85kW and 144Nm, a rear-view camera, and an 8-inch infotainment display with Apple CarPlay and Android Auto support.

Two trim levels are then available, with prices starting at R265,000.

South African pricing for the Kia Sonet is listed below.

  • Sonet 1.5 LX Manual – R264,995
  • Sonet 1.5 LX CVT – R285,995
  • Sonet 1.5 EX Manual – R284,995
  • Sonet 1.5 EX CVT – R305,995

Monthly payments

To see how much buyers of a Kia Sonet will make in monthly payments if they purchase the vehicle using a finance plan, we produced a repayment calculation.

The calculation uses the “mid-range” price of R285,000 and a payment term of five years, and is detailed in full below.

  • Car Price – R285,000
  • Payment Term – 60 terms (5 years)
  • Interest – 9%
  • Deposit – 10%
  • Balloon – No balloon payment
  • Extras – No optional extras

This comes to a vehicle finance repayment of R5,418 per month.

The total amount of interest you will pay on the finance agreement is then R63,267.

The salary

We have also calculated the salary you will need to “afford” the monthly payments on your new Kia Sonet.

The affordability factor is based on advice from financial experts, who state that car buyers should not spend more than 20% of their gross monthly salary on vehicle finance payments.

Using this guideline, the gross monthly salary you will need to earn is R27,090.


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