What it costs to take home the new Ford Everest on a finance plan

The new Ford Everest will require a monthly payment of at least R18,555 if bought on a finance plan, according to a calculation by TopAuto.

The American carmaker’s new SUV is available with a choice of two models – the Sport and the Platinum – with prices starting at R965,400 and R1,113,100, respectively.

For this price, buyers can expect one of two engines, a 2.0-litre bi-turbo on the Sport, or a new 3.0-litre V6 in the case of the Platinum.

The 2.0-litre variant produces 154kW and 500Nm, while the 3.0-litre ups this to an impressive 184kW and 600Nm.

In either case, the Everest uses a 10-speed automatic gearbox, and fuel consumption is listed at 7.5l/100km for the bi-turbo and 8.5l/100km for the V6.

As for features, standard equipment on the SUV comprises a new digital driver screen of between 8 and 12.4-inches, depending on the model, and a new vertical infotainment monitor with Apple CarPlay, Android Auto, voice commands, eight speakers, and a reverse camera.

Also included are a wireless phone charger, keyless entry and start, dual-zone climate control, all-around parking sensors, electric front seats, automatic LED headlamps, and 20-inch alloy wheels.

Furthermore, it has driving aids ranging from lane-keeping assist and pre-collision assist with dynamic braking, to adaptive cruise control, forward collision warning, reverse brake assist, and Active Park Assist 2.0.

What it costs

In order to calculate what it costs to purchase the Ford Everest on a payment plan, we can use the following formula:

• Car price – R965,400 / R1,113,100
• Payment term – 60 terms (5 years)
• Interest – 10%
• Deposit – 10%
• Balloon – No balloon payment
• Extras – No optional extras

From this, we can determine that the SUV will require a payment of at least R18,555 per month for the Sport and R21,254 for the Platinum.

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

According to this, anyone who is interested in the blue oval’s new vehicle will need to earn a minimum of R92,777 per month in order to reasonably “afford” the Ford Everest Sport, and up to R106,283 p/m for the Platinum.

Bear in mind, however, that this figure does not account for additional expenses such as insurance, fuel, and maintenance.