The Cars You Can Afford With Your Salary In South Africa

We know how many of us have a dream to own a car, or even better, a dream car. But to be honest, that dream may sometimes feel unrealistic because you don’t actually know enough about which car you are able to get with the salary that you have.

Here is a guide that was published by Suzuki, to help people who are interested in buying a car.

The general rule of thumb is that you should not spend more than a quarter of your monthly income on vehicle-related costs.

For example, if you are earning R20 000 a month, your total vehicle expenses should not exceed R5,000. This cost includes vehicle installments, insurance premiums, and fuel costs.

First, figure out how much you will be able to afford. And you can do that by simply using an online calculator. This can help you calculate all your daily expenses including groceries and other expenses to help you figure out what price range you can afford for an additional expense of a car.

To make sure you are looking within the correct range, use a vehicle installment calculator to calculate how much an R250,000 vehicle, for example, will cost you per month. Don’t forget to also keep in mind how much insurance premiums and fuel will cost you so that you have a realistic idea of how much you will need to pay.

What can you afford?

Business tech made an example of what you can afford depending on your salary in South Africa. These calculations were done using Wesbank’s repayments calculator and include the assumption of a 0% deposit for car financing. They exclude any additional fees which could be incurred during the inception of the loan into the calculation. Finally, the cars are financed over five years (60 months) at an annual interest rate of 9%.

These calculations are purely for comparison purposes and are not meant as financial advice. 

Here are some of the cars you can currently buy in South Africa at each of these price points:

Suzuki S-Presso 1.0 GL – R152,900

Renault Kiger 1.0 Life – R199,900

Haval H2 1.5T 6MT 4×2 City – R294,900

Toyota Hilux 2.4GD-6 double cab SR – R498,700

BMW X3 – R764,000


Audi Q5 Sportback 40TDI quattro S line – R1,000,000

BMW M4 Coupé – R1,957,388

Ferrari Portofino M – R4,956,200

What is your dream car? Let us know in the comments below.

Article inspired by: Business Tech

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9 thoughts on “The Cars You Can Afford With Your Salary In South Africa

  1. Mpho R. says:

    Thank you for much for this informative article .I am currently in search of buying a car and this piece of article really came in at the right time.Notes taken✍✍✍✍

  2. Bongani M. says:

    Another mistake people make, just because you qualify to get a specific car doesn’t mean you can afford it. People forget that a whole lot goes into owning a car like Fuel, Maintenance, Insurance, Car Parts and etc. Most fancy cars are being taken to mere mechanics to get fixed, panel beat. Buy a car in which not 50% of your salary is spent on a monthly basis