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Thursday / 20 June 2024
HomeFeaturesThe salary you need to afford the new Chery Tiggo 7 Pro Max

The salary you need to afford the new Chery Tiggo 7 Pro Max

South Africans will need to earn at least R60,000 per month in order to afford the new Chery Tiggo 7 Pro Max on a finance plan, according to a calculation by TopAuto.

The Max is the new flagship version of the Chinese carmaker’s popular crossover series, available in three specifications with prices ranging from R529,900 to R609,900.

Unlike the standard Tiggo 7, which operates on a 1.5-litre turbocharged petrol plant, the Max family uses a 1.6-litre turbo engine which raises the SUV’s output from 108kW and 210Nm, to 145kW and 290Nm.

This is paired to a seven-speed automatic gearbox which can connect to either the front wheels or, for the first time on a Tiggo unit in South Africa, an all-wheel-drive layout.

The Max further distinguishes itself with a model-exclusive grille, new 3D “Angel Wing” LED headlights, 18-inch alloy rims, and redesigned air intakes.

Inside, the dashboard is now dominated by a 24.6-inch curved dual-display for the driver and infotainment functions, with the latter supporting both Apple CarPlay and Android Auto.

Other standard items include electric front leather Sports seats, an eight-speaker Sony sound system, dual-zone climate control, a panoramic sunroof, an electric tailgate, a 360-degree camera system, a 50W wireless phone charger, and eight airbags.

The top-end Executive additionally receives a level 2.5 advanced driver assistance system with adaptive cruise control, rear cross-traffic alert, lane-change assist, autonomous emergency braking, forward and rear-collision warning,  blind-spot monitoring, and a driver monitoring system.

Each purchase includes a 5-year/150,000km general warranty, a 10-year/1-million kilometre engine warranty, and a 5-year/60,000km service plan.

What you need to earn

We can use the following formula to calculate the monthly repayments for the new Chery.

  • Car price – R529,900/R609,900
  • Payment term – 60 terms (5 years)
  • Interest – 11.75%
  • Deposit – 0%
  • Balloon – No balloon payment
  • Extras – No optional extras

Based on this, you will need to spend at least R11,816 per month for the Max, and up to R13,585 per month for the range-topping model.

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

This means you’ll need to earn anywhere from R59,080 per month up to R67,925 per month to afford the new Tiggo 7 Pro Max.

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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