Buying an Eleksa CityBug using a vehicle finance plan will cost you R4,390 per month.
This is according to a calculation performed by TopAuto.
The CityBug recently went on sale in South Africa for R230,000 – making it the cheapest electric car in the country.
It packs a 9kWh battery and 4kW electric motor mounted to the rear axle, and provides a standard range of 100km per charge.
This can be extended to 200km at the customer’s request.
This motor drives a relatively small body – which measures 2,960mm long, 1,480mm wide, and 1,520mm tall. The car then weighs in at 450kg.
As expected, the CityBug is not a speed demon. It reaches a top speed of 55km/h (amended from 60km/h).
This is countered by an efficient use of power, however, and Eleksa said it will only cost owners 15c per kilometre when charging the vehicle.
Despite its small size, the CityBug also offers four seats and has a maximum load capacity of 300kg.
To calculate how much you will pay per month when buying a CityBug on a vehicle finance plan, we can use the formula below.
- Car Price – R230,000
- 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 R4,390.
The total amount of interest you will pay over the agreement is R51,100.
Buyers will also need to take monthly insurance premiums and charging costs into account when budgeting for the vehicle.