How much monthly payments are for an R800,000 SUV – TopAuto
Latest News
Friday / 27 May 2022
HomeFeaturesHow much monthly payments are for an R800,000 SUV

How much monthly payments are for an R800,000 SUV

The Isuzu mu-X 3.0TD Onyx 4×4 and Toyota Fortuner 2.8GD-6 4×4 VX are two top contenders in the 4×4 SUV segment.

Both SUVs come with comprehensive warranty and service plans, provide solid off-roading performance and power, and feature ample space inside the cabin.

You will also find front and rear parking sensors, blind-spot monitoring, rear cross-traffic alert, forward collision alert, autonomous emergency braking, lane departure alert, hill start and descent assist, and much more in both vehicles.

Importantly for many, both these SUVs are substantially cheaper than competing models from “fancier” brands.

The new top-end mu-X sells for R860,500, while the top-end Fortuner retails for R845,500.

This translates to a monthly instalment amount of around R16,000 per month when buying one of these vehicles on a finance plan, according to a calculation by TopAuto.

Monthly instalments

To work out how much you will pay in instalments each month when buying the best mu-X or Fortuner, we can use the formula below.

A retail price of R850,000 was used for this calculation.

  • Car Price – R850,000
  • 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 R15,970.

The total amount of interest you will pay on this finance agreement is then R188,100.

Buyers would need to take insurance premiums, fuel costs, and paying for consumables like tyres into account alongside the instalment to then calculate the monthly “cost of ownership”.

Show comments