The average South African salary currently sits at R26,032, a 4.5% increase over the previous quarter, according to wage data published by Stats SA in March.
Car buyers with these earnings have a variety of options to choose from, including hatchbacks from well-known brands such as Hyundai and Kia, MPVs from Renault, and even a few bakkies from the likes of GWM, Nissan, and Mahindra.
Cars you can afford
As a general rule of thumb, it’s recommended to spend no more than 20% of your gross monthly salary on vehicle purchases, said finance house WesBank.
This means the average motorist in the country has R5,206 to spend on their ride each month in order to “comfortably” afford it.
With this figure, we can determine the maximum selling price of a particular vehicle by plugging the budget into the below calculation:
- Monthly instalment – R5,206
- Payment term – 60 terms (5 years)
- Interest – 11.25%
- Deposit – 0%
- Balloon – No balloon payment
- Extras – No optional extras
For a monthly payment of R5,206, the vehicle can be no more expensive than R234,000, leaving a limited selection on the market.
The options that meet these requirements are detailed below.
Keep in mind, though, that related costs such as insurance, fuel, and maintenance must also be accounted for in your car-buying budget.
Click on the underlined prices for more information.
Renault Triber 1.0 Zen
- Starting price – R213,999
- Power – 52kW/96Nm
- Fuel consumption – 5.5l/100km
Hyundai Grand i10 1.0 Motion
- Starting price – R219,900
- Power – 49kW/94Nm
- Fuel consumption – 5.4l/100km
Proton Saga 1.3 Standard Auto
- Starting price – R219,900
- Power – 70kW/120Nm
- Fuel consumption – 7.0l/100km
Mahindra Bolero 2.5TD Single Cab
- Starting price – R225,999
- Power – 74kW/238Nm
- Fuel consumption – 9.5l/100km
Toyota Agya 1.0 Auto (Audio)
- Starting price – R226,500
- Power – 49kW/89Nm
- Fuel consumption – 4.9l/100km
Kia Picanto 1.0 Street
- Starting price – R228,995
- Power – 49kW/95Nm
- Fuel consumption – 5.0l/100km
Nissan NP200 1.6i Safety Pack (Aircon)
- Starting price – R230,900
- Power – 64kW/128Nm
- Fuel consumption – 8.1l/100km
Honda Amaze 1.2 Trend
- Starting price – R231,200
- Power – 66kW/110Nm
- Fuel consumption – 5.6l/100km
Suzuki Swift 1.2 GLX
- Starting price – R232,900
- Power – 61kW/113Nm
- Fuel consumption – 4.9l/100km
GWM Steed 5 2.2MPi Single Cab Workhorse
- Starting price – R233,950
- Power – 73kW/180Nm
- Fuel consumption – 9.9l/100km
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