If you plan to buy a new Range Rover Velar using a finance plan, then be prepared to pay R24,200 per month in instalments.
This is according to a calculation run by TopAuto.
The new Range Rover Velar offers enhanced connectivity, more driver assistance systems, extra customisation options, and a new limited-edition trim.
This special trim line is called the Auric Edition, which is a limited-run model that is based on the R-Dynamic S specification.
It comes with Auric Atlas exterior trim finishes, 20-inch “Mercurial Gloss Sparkle Silver” wheels, and three exterior colours.
The Auric Atlas is not the most-expensive model on offer, however. That honour goes to the Velar P400e R-Dynamic, with a starting price of R1,725,400.
The “entry-level” Velar – the D200 S – then starts at R1,293,800.
To work out how much you will pay per month to buy a Range Rover Velar on a vehicle finance plan, we can use the starting price of the SUV and place it in the formula below.
- Car Price – R1,293,800
- Payment Term – 60 terms (5 years)
- Interest – 9%
- Deposit – 10%
- Balloon – No balloon payment
- Extras – No optional extras
The result is a monthly finance payment of R24,200.
Total interest paid over the agreement will then be R286,100.
If you opted for the top-end P400e R-Dynamic, you would pay R32,300 per month. The total amount of interest paid will be R381,500.
Buyers must also be aware of the fuel costs and insurance premiums associated with a high-end vehicle like the Range Rover Velar.
These items can easily add several thousand rand per month to your total-cost-of-ownership bill.