The salary you need to afford Kia’s new 7-seater SUV in South Africa

You will need to earn at least R43,000 per month to comfortably afford the new Kia Carens on a finance plan, according to a calculation by TopAuto.

In the pipeline for South Africa since last year, the seven-seat family SUV has finally arrived, joining the Kia Tasman as the Korean carmaker’s newest local offerings.

Offered in no less than four derivatives, the Carens has a starting price of R399,995, with the top-spec model demanding up to R599,995 from buyers.

No matter the price, all four variants – the LS, LX, EX and SX – share a 1.5-litre turbodiesel motor, capable of producing 85kW and 250Nm.

Depending on the chosen derivative, the Carens features either a six-speed manual or a six-speed automatic gearbox.

The manual transmission, found in the entry-level LS, offers drivers a fuel efficiency of 5.0l/100km, while the rest of the models in the range average 5.3l/100km, courtesy of their automatic boxes.

Aside from different transmissions, what sets each trimline apart is its features, which gradually improve as their prices increase.

The entry-level LS is fitted with 16-inch styled wheels, partial LED rear combination lamps, cloth and artificial leather upholstery, a centre armrest with integrated storage box, and manual air conditioning.

This model’s tech offerings include an eight-inch infotainment display with smartphone integration, Bluetooth with voice recognition and a six-speaker sound system, alongside a 4.2-inch digital driver cluster.

Improving on these is the LX derivative, which features 17-inch Crystal Cut dual-tone alloy wheels, electric folding mirrors and roof rails.

Inside, this variant features artificial leather upholstery, introduces cruise control, and a wireless smartphone charger.

The EX models include all the features found in the two former models, upgraded to LED daytime running lights, push-start, a 12.3-inch infotainment display, and front and rear park distance sensors.

At the top of the range, the SX derivative introduces electric driver’s seat adjustment, heated front seats, smart cruise control, and stop-and-go functionality.

It also features a larger 12-inch integrated LCD driver cluster and a Bose sound system with eight speakers.

All derivatives feature ABS, Electronic Stability Control, and Hill Start Assist, as well as several airbags, while the SX adds a comprehensive ADAS suite to this.

How much you need to earn

We can use the formula below to calculate the monthly payments on the new Kia Carens, provided no optional extras are fitted.

• Car price – R399,995/R599,995
• Payment term – 60 terms (5 years)
• Interest – 10.25%
• Deposit – 0%
• Balloon – No balloon payment

According to this, you’ll need to pay at least R8,642.80 per month for the entry-level LS, and up to R12,916.80 per month for the top-of-the-range SX derivative.

To comfortably afford vehicle finance, experts recommend that you do not spend more than 20% of your gross monthly salary on monthly loan repayments.

This means you’ll need to earn anywhere from R43,250 per month to R64,600 per month to afford the seven-seat SUV on a finance plan.

It needs to be noted that this figure does not account for other vehicle ownership costs, including insurance premiums, fuel, and maintenance, which must all be factored into your budget.