The cheapest Toyota you can currently buy in South Africa is the new Vitz which retails from R189,900.
This makes it R16,100 cheaper than the brand’s previous entry-level car – the Agya – which had a starting price of R206,000.
A big reason as to why the Vitz is cheaper than the Agya is that it is not a wholly original product; instead, it is the result of a collaboration between Toyota and another Japanese automaker that many South Africans will be familiar with – Suzuki.
Entry-level market
Toyota and Suzuki are in a partnership, meaning they share the cost of research and development (R&D) for a new model.
Naturally, this team effort has clear benefits for both parties, but it’s also good for the consumer as splitting the R&D expenses ultimately results in lower prices by the time the car reaches the showroom floor.
The Toyota Vitz is actually based on the Suzuki Celerio, which is Suzuki’s second cheapest car after the S-Presso.
There are functionally no differences between the two hatchbacks, as both are available in two trim levels with a choice of either a manual or automatic gearbox for the higher specification, meaning there are three units available for both the Vitz and Celerio.
Both cars are driven by the same 1.0-litre, naturally aspirated petrol engine producing 49kW and 89Nm, and they are both front-wheel drive.
The available transmissions are a five-speed manual or a four-speed automatic, which result in a fuel consumption of 4.4l/100km and 4.2l/100km, respectively.
It’s the same story with the equipment list, as the Suzuki and Toyota both come with features such as 15-inch alloy wheels, electric windows, manual aircon, a multifunction steering wheel, fabric upholstery, rear parking sensors, four speakers, and a 7-inch infotainment screen with Apple CarPlay and Android Auto, depending on the model selected.
Neither car is produced in South Africa as they are both sourced from their respective company’s factories in India.
Cost of finance
Following the most recent interest rate hikes, motorists will need to earn R22,000 per month to afford the Vitz.
We used the following formula to work out the monthly payments on the new Toyota.
- Car price – R189,900
- Payment term – 60 terms (5 years)
- Interest – 11.75%
- Deposit – 0%
- Balloon – No balloon payment
- Extras – No optional extras
This gives us a monthly payment of R4,295, which means you should ideally be earning at least R21,475 per month as financial experts do not recommend spending more than 20% of your gross salary on vehicle payments.
Note that this sum does not account for fuel, maintenance, or insurance, which must all be factored into your budget.
Keyword: Cheapest Toyota in South Africa – What you pay