How much you need to earn to afford the VW Taigo – TopAuto
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Friday / 12 August 2022
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How much you need to earn to afford the VW Taigo

The VW Taigo requires buyers to earn just over R40,000 a month to “afford” the new car.

This is according to a calculation by TopAuto.

VW’s latest crossover series went on sale in South Africa this month, with prices starting at R429,900 for the entry-level Life model.

The Taigo is powered by a small, 1.0-litre turbocharged petrol engine which is capable of producing 85kW and 200Nm.

This powertrain, in tandem with a seven-speed automatic transmission, allows the crossover to achieve a combined fuel consumption of 5.4l/100km.

The interior boasts several features including a leather multifunction steering wheel with paddle shifters, rain-sensing wipers, an auto-dimming rearview mirror, manual air conditioning, cloth seats, and a four-speaker infotainment unit with a 6.5-inch touchscreen and support for Apple CarPlay, Android Auto, and VW’s WeConnectGo companion app.

Driving the Taigo is also complemented by a range of assist features, including front and rear park distance control, cruise control, hill assist, and driver fatigue monitoring.

As far as the exterior is concerned, the new VW is fitted with LED headlights and daytime running lights, front and rear fog lights, and 16-inch alloy wheels.

What you need to earn

We can use the following calculation to determine how much the monthly payments on the entry-level VW Taigo would be:

  • Car price – R429,900
  • Payment term – 60 terms (5 years)
  • Interest – 9.5%
  • Deposit – 10%
  • Balloon – No balloon payment
  • Extras – No optional extras

According to this, the VW will require a monthly payment of R8,220.

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

From this, we can determine that anyone interested in buying the VW Taigo will need to earn a minimum of R41,100 a month in order to “afford” the car.

However, this figure does not include running costs such as insurance, fuel, and maintenance – which must also be considered when determining your budget.

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