So, you've decided to embrace a fully electric life? The Volvo C40 Recharge is one of our favourite EVs, but these cars don't come cheap. We've done the math to find out how much you'll be paying for this privilege every month.
The Volvo C40 Recharge (Read our First Drive Review) has all the right ingredients to make a great daily driver if you’ve gone off-grid at home (so you’re not affected by load-shedding), have a wall-box (the wall-box charger is included with your C40 purchase), and know where to find your nearest fast-charging stations.
If you live in the Cape Town area, you’ll be pleased to know that there are fast-charging points in the Gardens Centre, Stellenbosch Square, and a bit further away, just outside of the Caledon Casino, to name but a few. We recommend reading this article to find out where charging stations are, close to you.
But, let’s get to the real question here: How much will you pay for a new C40 Recharge on finance?
To find the answer, we used our Car Finance Calculator and entered a variety of variables. The Volvo C40 Recharge Twin Motor Ultimate currently retails for R 1 324 000, which is reflected in our calculations below.
If you pay the C40 off over 72 months, however, that monthly payment goes down to almost R11k per month. A bit more manageable!
Over here, we put down an imaginary deposit of R600k with zero deposit. You’ll have to fork out nearly R15k per month over 72 months.
In this example, we put down a R300k deposit, and opted for a 72-month repayment period. This means you’ll pay almost R21k per month.
Considering a Mercedes-EQA 250 by any chance? We review it here.
What you can contribute in terms of a deposit, your individual interest rate, and the chosen repayment period will determine what you’ll pay every month, but we hope our calculations above at least gave you a ballpark figure for working out your budget.
Did you know? There are other, cheaper EVs available now
Cheaper electric cars like the new GWM Ora can be had for R686 950 – R835 950. Read Taye’s First Drive Review of the Ora here.
But, if you want to stick with Volvo, we recommend the Volvo CX40 P6 Recharge: read the review here. The XC40 Recharge P6 (now known as the XC40 Recharge Single Motor Plus) retails for a more affordable R1,108 000 at the time this article was published (Nov 2023).
Keyword: How much are monthly repayments on a new Volvo C40 Recharge?