How much monthly finance payments are for South Africa’s newest cars

Whether you want to pay R5,000 or R60,000 per month for a new car, November’s vehicle launches have you covered.

Three standout vehicles which were released in the local market this month are the electric Audi e-tron, the Chery Tiggo 4 Pro small SUV, and the Lexus ES 250 luxury sedan.

The Chery Tiggo 4 Pro is aimed at weekend adventurers and starts at R269,900.

At the other end of the spectrum is the Audi e-tron, the latest luxury electric vehicle in the country – which goes up to R3,300,000 for the RS e-tron GT version.

In the middle we have the Lexus ES, with the 250 EX version selling for R719,900.

How much you will pay

To work out how much a prospective buyer will pay per month when buying one of these vehicles using a finance plan, we can use the formula below.

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

The results of these calculation are detailed below.

Audi e-tron

The “entry-level” Audi e-tron 55 Advanced sells for R1,990,000.

This works out to a monthly finance instalment of R37,200. The total amount of interest you will pay over the contract is then R439,900.

At the top end sits the Audi RS e-tron GT, at R3,300,000

You will pay R61,700 per month in instalments to take this car home – with total interest coming in at R729,400.

Chery Tiggo 4 Pro

The Chery Tiggo 4 Pro starts at R269,900 for the 1.5 Urban 5MT model.

Monthly finance payments come in at R5,100, with total interest paid totalling R59,700.

The Chery Tiggo 4 Pro 1.5 Elite SE CVT then sells for R359,900

Buyers will pay R6,800 per month in instalments here, while total interest for the agreement comes to R79,800.

Lexus ES

Those wanting a luxury sedan from Lexus can buy the new ES 250 EX for R719,900.

Using a finance plan will see you pay R13,500 per month in payments, while the total interest amount is R159,300.

The top-end Lexus ES 300h SE then sells for R948,400.

Instalments on this car come to R17,800 per month, with a total interest bill of R210,500.