Motorists will need to earn at least R71,000 per month in order to afford the updated Kia Sportage in South Africa, according to a calculation by TopAuto.
The Korean automaker recently overhauled its popular SUV for the domestic market, adding new features as standard while simplifying the range.
This has led to the dropping of the entry-level LX and mid-spec EX petrol models, leaving the diesel LX as the new point of entry to the series with its price tag of R637,995, while the flagship GT-Line now goes for R798,995.
For this price, you now get Advanced Driver Assistance Systema (ADAS) as standard across the range, comprising lane-follow assist, lane-keep assist, and forward-collision avoidance assist, which complement the pre-existing safety features like blind-spot monitoring, ABS, trailer stability assist, electronic brake-force distribution, electronic stability control, and hill start and descent control.
The rest of the equipment list is unchanged, so all users will have access to an artificial leather multifunction steering wheel, dual-zone climate control, keyless entry and start, a reverse camera, rear parking sensors, six speakers, cruise control, 17-inch alloy wheels, automatic LED headlights, rain-sensing wipers, a 4.0-inch driver’s display, and a 12.3-inch media unit with smartphone pairing.
Buyers who choose the EX model will also get electric front seats, heated seats for both rows, cloth/artificial leather upholstery, a heated steering wheel, front parking sensors, a wireless charger, and larger 18-inch rims.
Those picking up the GT-Line can additionally expect a 12.0-inch digital driver display, a panoramic sunroof, a hands-free electric tailgate, gearshift paddles, artificial leather/suede seats, and 19-inch alloys.
Powering all of this is a 1.6-litre turbocharged engine using either petrol or diesel, with the former producing 132kW and 265Nm, while the latter does 100kW and 300Nm.
The entire Sportage family is front-wheel drive and features a seven-speed automatic gearbox, and fuel consumption works out to 6.5l/100km for the petrol and 4.9l/100km for the diesel.
This includes a 5-year/unlimited-kilometre warranty and roadside assistance plan, as well as a 6-year/90,000km service plan.
What you need to earn
We can use the following formula to work out the monthly payments on the revised Kia:
- Car price – R637,995/R798,995
- 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 R14,207 per month for the new base XL, or up to R17,768 per month for the top-end GT-Line S.
Financial experts then recommend that you do not spend more than 20% of your gross monthly salary on vehicle payments.
This means you’ll now need to earn anywhere from R71,035 per month to R88,840 per month to afford the Sportage in South Africa.
Note that this figure does not account for insurance, fuel, and maintenance, which all need to be factored into your budget.
What you need to earn
We can use the following formula to work out the monthly payments on the revised Kia:
- Car price – R637,995/R798,995
- 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 R14,207 per month for the new base XL, or up to R17,768 per month for the top-end GT-Line S.
Financial experts then recommend that you do not spend more than 20% of your gross monthly salary on vehicle payments.
This means you’ll now need to earn anywhere from R71,035 per month to R88,840 per month to afford the Sportage in South Africa.
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 updated Kia Sportage in South Africa