South Africans will need to earn a minimum of R38,000 per month in order to afford the new Suzuki Grand Vitara, according to a calculation by TopAuto.
The crossover is available in five specifications with prices starting at R339,900 for the entry-level GL, and up to R529,900 for the range-topping GLX hybrid.
Every unit, including the hybrid, is powered by a 1.5-litre naturally aspirated petrol engine with 77kW and 138Nm.
The non-hybrid models are front-wheel drive and offer a choice of a five-speed manual or four-speed automatic, resulting in an average fuel consumption of 6.0l/100km.
The electrified GLX, meanwhile, has an AllGrip all-wheel-drive system, a six-speed auto-box, regenerative brakes, an integrated starter motor, and a 12V battery, which cuts its usage down to 5.6l/100km.
Standard features on the Vitara include 17-inch alloy wheels, LED headlights and daytime running lights, a leather multifunction steering wheel, keyless entry and start, automatic climate control, cruise control, a reverse camera, rear parking sensors, hill assist, and a 7-inch infotainment unit with Apple CarPlay and Android Auto.
Higher specifications then add a heads-up display, a larger 9-inch media screen, an all-round camera system, leatherette upholstery, ambient cabin lighting, and a wireless phone charger.
What you need to earn
We can use the following formula to calculate the monthly payments on the new crossover.
- Car price – R339,900/R529,900
- Payment term – 60 terms (5 years)
- Interest – 11.25%
- Deposit – 0%
- Balloon – No balloon payment
- Extras – No optional extras
According to this, the Vitara will require a minimum payment of R7,528 per month for the GL, all the way up to R11,682 per month for the GLX hybrid.
Financial experts then recommend that you do not spend more than 20% of your gross monthly salary on vehicle payments.
This means that motorists will need to earn anywhere from R37,640 per month to R58,410 per month to be able to “afford” the vehicle.
Bear in mind that this figure does not account for insurance, fuel, and maintenance – all of which needs to be factored into your budget.
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