logo
Latest News
Follow
Thursday / 6 February 2025
HomeFeaturesHow much monthly payments are on the new Honda HR-V

How much monthly payments are on the new Honda HR-V

Buyers of the new Honda HR-V Comfort will need to pay at least R8,959 per month if the car is bought on a finance plan, according to a calculation by TopAuto.

The new crossover recently launched in South Africa with two trim lines available, the Comfort for R469,000 and the Executive for R554,500.

The front-wheel-drive Hondas run on a 1.5-litre petrol engine which provides 89kW and 145Nm, combined with a CVT transmission.

The new HR-V is also equipped with a variety of enhanced features over the model it is replacing, the most notable of which is a new air diffusion system that creates a gentle flow of air along the side windows to simulate a natural breeze.

This current has the effect of blocking any heat transmitted through the windows in summer, as well as blocking cold air in winter, said Honda.

Furthermore, the HR-V features a multifunction steering wheel, adaptive cruise control, a smart key system, and an 8-inch infotainment system with four speakers and support for Apple CarPlay and Android Auto as standard.

As far as safety is concerned, it offers four airbags and systems such as lane-keep assist, hill descent control, and an improved collision mitigation system that automatically applies the brakes if the car detects an oncoming vehicle.

Monthly payments

We can use the following calculation to determine how much the monthly payments on the entry-level Honda HR-V Comfort would be:

  • Car price – R469,000
  • Payment term – 60 terms (5 years)
  • Interest – 9.5%
  • Deposit – 10%
  • Balloon – No balloon payment
  • Extras – No optional extras

Using these figures, we arrive at a monthly payment of R8,959.

Financial experts then recommend that you do not spend more than 20% of your gross monthly salary on vehicle payments.

From this, we can calculate that those who are interested in buying the Honda HR-V will need to earn a minimum of R44,795 a month to “afford” it.

Bear in mind that this amount does not account for additional costs such as insurance, fuel, and maintenance – which must also be included in your budget.

Share

Show comments