Buying a 2022 VW Polo GTI using a vehicle finance plan will cost you R9,230 per month.
This is according to a calculation performed by TopAuto.
VW revealed the local pricing of the updated Polo GTI last week, with the hot hatchback set to start at R489,400 when it goes on sale in January 2022.
This provides you with a 147kW of power from a 2.0-litre petrol engine and a host of style upgrades – including 17-inch “Milton Keynes” alloy wheels.
The Polo GTI also comes standard with the same LED Matrix headlights fitted to the Golf 8 GTI, dynamic chassis control, dynamic cornering lights, and autonomous emergency braking with front assist.
Features like a rear-view camera, a panoramic sunroof, and driver-assist and safety systems can be optioned at an additional cost.
Each purchase of a 2022 VW Polo GTI then includes a 3-year/120,000km warranty and a 3-year/45,000km service plan.
Monthly payments
To calculate how much you will pay per month when purchasing a new Polo GTI using a finance plan, we can place the vehicle’s price into the formula below.
- Vehicle Price – R489,400
- Payment Term – 60 terms (5 years)
- Interest – 9%
- Deposit – 10%
- Balloon – No balloon payment
- Extras – No optional extras
The result is a finance payment of R9,230 per month. The total amount of interest paid over the agreement is R108,400.
Using this figure, we can also work out how much you need to earn to be able to “afford” the Polo GTI.
Financial experts recommend that you do not spend more than 20% of your gross monthly salary – your salary before deductions – on vehicle payments.
This works out to a required salary of R46,150 per month.
It must be noted that the amounts above do not take additional expenses like car insurance and petrol into account, or the purchase of extended warranties and service plans.
Keyword: New VW Polo GTI – How much monthly finance payments will be