How much monthly payments are for the new Toyota Urban Cruiser

Motorists will need to pay at least R7,400 per month to take home the new Toyota Urban Cruiser on a finance plan, according to a calculation by TopAuto.

The crossover is available in three specifications, with prices starting at R329,400 for the entry-level model and up to R369,900 for the top-of-the-range derivative.

All units of the Toyota are fitted with a 1.5-litre, naturally-aspirated petrol engine which has an output of 77kW and 138Nm.

Each Urban Cruiser is front-wheel drive and there are two gearboxes on offer comprising a five-speed manual and four-speed automatic, both returning a combined fuel consumption of 6.1l/100km.

Equipment-wise, there are two trim grades to choose from with varying niceties.

The base XS model comes standard with 17-inch steel rims, bi-halogen headlights, LED daytime running lights, rear parking sensors, a reverse camera, automatic air conditioning, keyless entry and start, fabric seats, a multifunction steering wheel, ABS, two speakers, and a 7-inch infotainment screen with Apple CarPlay and Android Auto.

The range-topping XR units, meanwhile, throws in cruise control, roof rails, alloy wheels, and two more speakers for a total of four.

What you need to earn

We can use the following formula to calculate the monthly payments on the new Urban Cruiser:

• Car price – R329,400/R369,900
• Payment term – 60 terms (5 years)
• Interest – 11.75%
• Deposit – 0%
• Balloon – No balloon payment
• Extras – No optional extras

According to this, the crossover will require a minimum payment of R7,381.48 per month for the XS, up to R8,277.27 per month for the XR auto.

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

South Africans will therefore need to earn anywhere from R36,907.40 per month to R41,386.35 per month to “afford” the vehicle.

Note that this figure does not account for insurance, fuel, and maintenance, which must all be factored into your budget.