If you want to buy a new Toyota RAV4 2.5 VX CVT Hybrid E-Four on a finance plan, you must budget for an instalment of R13,764 per month.
This is according to a calculation performed by TopAuto.
Toyota recently updated its RAV4 range in South Africa, with the top-end model now sporting a four-wheel-drive hybrid powertrain.
This model is equipped with a 2.5-litre petrol engine developing 131kW and 221Nm, connected to a rear-mounted electric motor that sends 88kW and 202Nm to the front axle – while simultaneously delivering 40kW and 121Nm to the rear axle.
The total power output of the system is only 163kW, however. Toyota previously stated this mismatch in power figures in its hybrid cars is a result of “transmission reduction losses.”
Combined fuel consumption for the hybrid is rated at 4.8l/100km and top speed comes in at 180km/h, said Toyota.
On the inside, this RAV4 offers a partial leather interior, blue interior lighting, all-round parking sensors, a 360-degree camera system, a digital rear-view mirror, radar cruise control, lane trace assist, blind-spot monitoring, and rear cross-traffic alert.
Each hybrid model then receives a 3-year/100,00km warranty, a six-services/90,000km service plan, and an 8-year/195,000km battery warranty.
To calculate the monthly repayments when purchasing a Toyota RAV4 2.5 VX CVT Hybrid E-Four using a finance plan, we can use the formula below:
- Car Price – R723,200
- Payment Term – 60 terms (5 years)
- Interest – 9.5%
- Deposit – 10%
- Balloon – No balloon payment
- Extras – No optional extras
The result is a finance payment of R13,764 per month. The total amount of interest you will pay over the duration of the agreement is R169,620.
Financial experts then recommend that you do not spend more than 20% of your gross monthly salary on vehicle payments.
This means that if you want to buy the top-end RAV4, you will need to earn R68,820 per month to “afford” the vehicle.