How much you need to earn to “afford” a BMW 320i Mzansi Edition – TopAuto
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Tuesday / 25 January 2022
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How much you need to earn to “afford” a BMW 320i Mzansi Edition

Prospective buyers of the new BMW 3 Series Mzansi Edition will need to earn around R81,000 per month to “afford” the luxury sedan.

The 3 Series Mzansi Edition range stands out from the standard 3 Series by offering a range of extras as standard.

This consists of the M Sport Package and the M Shadow Line package, which delivers blackened exterior detailing on the grille and LED headlights.

A black front splitter with carbon fibre inserts is also included, along with LED backlighting behind the grille – a feature that was previously only available in the X6 SUV.

The specification pack is then available on three models: 318i, 320i, and 320d.

Required income

To calculate how much you need to earn to “afford” the BMW 3 Series Mzansi Edition, we looked at the 320i model.

The BMW 320i Mzansi Edition sells for R863,692 locally, and packs a 2.0-litre, turbo-petrol engine.

This engine provides 135kW and 300Nm, and is paired to an eight-speed automatic transmission with paddle shifters. Drive is sent to the rear wheels.

The BMW 320i Mzansi Edition price was then placed into the vehicle finance calculation below.

  • Car Price – R863,692
  • Payment Term – 60 terms (5 years)
  • Interest – 9%
  • Deposit – 10%
  • Balloon – No balloon payment
  • Extras – No optional extras

The result is a monthly car finance payment of R16,200. Total interest paid over the duration of the agreement is R190,900.

We must then take the monthly instalment from this plan and apply advice from financial experts.

Financial guidance when buying a car is to not spend more than 20% of your gross monthly salary on vehicle payments.

This is the amount you can “afford”.

In the case of the BMW 320i Mzansi Edition, this requires prospective buyers to earn R81,000 per month.

It must be noted that the calculation above does not include monthly insurance premiums and fuel costs, which will need to be taken into account when buying a vehicle.

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