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Wednesday / 22 May 2024
HomeFeaturesWhat you need to earn to afford the new Mazda CX-60

What you need to earn to afford the new Mazda CX-60

South Africans looking to take home the new Mazda CX-60 will need to earn at least R83,000 per month, according to a calculation by TopAuto.

The Japanese automaker’s flagship SUV is available in two trim levels – Dynamic and Individual – with prices starting at R739,800 and R844,500 respectively.

Under the hood of the CX-60 is a 2.5-litre, naturally-aspirated petrol engine with 141kW and 261Nm, which connects to an eight-speed automatic gearbox.

The Dynamic is offered in rear-wheel drive while the Individual sits atop all-wheel-drive underpinnings, resulting in a fuel consumption of between 7.3-7.7l/100km

Standard equipment on Mazda’s new SUV then includes automatic LED headlights, 20-inch alloy wheels, seven airbags, hill descent control, radar cruise control, climate control, a 360-degree camera, automatic emergency braking, lane-keep assist, blind-spot monitoring, and rear cross-traffic alert

It also has leather upholstery, a 12.3-inch infotainment screen, a heads-up display (HUD), and a 12.0-inch digital instrument cluster with smartphone mirroring.

One of the flagship’s most unique items is Mazda’s new Personalization System, which uses facial recognition to identify the occupant of the driver’s seat and adjusts the seat position, steering wheel, wing mirrors, and HUD to fit their physique.

There’s also a 12-speaker Bose stereo with multiple sub-woofers and tweeters, as well as a new Master Sound Revive Noise Reduction technology to remove background noise from digital audio tracks.

What you need to earn

We can use the following formula to work out the monthly payments on the new Mazda CX-60.

  • Car price – R739,800/R844,500
  • Payment term – 60 terms (5 years)
  • Interest – 11.75%
  • Deposit – 0%
  • Balloon – No balloon payment
  • Extras – No optional extras

According to this, the SUV will require a deposit of R16,458 per month for the Dynamic, or R18,774 per month for the Individual.

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

This means South Africans will need to earn anywhere from R82,290 per month to R93,870 per month to afford the new vehicle.

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

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