South Africans wanting to pick up the new Suzuki Fronx will need to earn at least R32,000 per month to purchase it on a finance plan, according to a calculation by TopAuto.
Based on the Baleno hatchback, the Fronx is the carmaker’s new entry-level SUV, coming in four specifications with prices ranging from R279,900 to R335,900.
All variants use the same 1.5-litre, naturally-aspirated petrol engine which produces a total of 77kW and 138Nm.
Transmission options are either a five-speed manual or four-speed automatic, which net a fuel consumption return of 5.5l/100km and 5.7l/100km, respectively.
On the equipment side, the base GL model comes with 16-inch alloy wheels, automatic LED headlights, climate control, a multifunction steering wheel, hill assist, ABS, two airbags, cruise control, a reverse camera, and a 7-inch infotainment screen with Apple CarPlay and Android Auto.
The top-end GLX will then add keyless entry and start, a heads-up display, a 4.2-inch driver’s display, a 360-degree camera system, a wireless charger, and four additional airbags.
Each purchase also includes a 5-year/200,000km warranty and a 4-year/60,000km service plan.
What you need to earn
We can use the following formula to work out the monthly payments on the new Fronx:
- Car price – R279,900/R335,900,
- Payment term – 60 terms (5 years)
- Interest – 11.75%
- Deposit – 0%
- Balloon – No balloon payment
- Extras – No optional extras
According to this, buyers will need to pay at least R6,286 per month to purchase the Suzuki on finance, and up to R7,525 per month for the range-topping unit.
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 at least R31,430 per month to afford the entry-level Fronx GL, and R37,625 per month if you want the top-spec GLX auto.
Note that this figure does not account for insurance, fuel, and maintenance, which all need to be factored into your budget.
Keyword: The salary you need to afford the new Suzuki Fronx