South Africans aspiring to own the facelifted Mazda 2 will need to earn at least R35,000 per month, according to a calculation by TopAuto.
The well-established hatchback recently had an update that added a number of new cosmetic details and features.
Starting off, the mid-range Dynamic models received a revised front grille that resembles the closed-off look of an electric car, while the range-topping Individual got a honeycomb grille with red inserts, and all versions of the 2 are now equipped with LED headlights.
In the base hatch, standard kit includes 15-inch steel wheels, a radio with Bluetooth and four speakers, keyless entry and start, manual air conditioning, cloth seats, a multifunction steering wheel, and two airbags.
Upgrading to a higher-spec model will then have the benefit of receiving 16-inch alloys, a two-tone roof, auto-folding side mirrors, rain-sensing wipers, a 7-inch infotainment screen with Apple CarPlay and Android Auto, four additional speakers, cruise control, a leather steering wheel, an auto-dimming rearview mirror, leather upholstery, rear parking sensors, a reverse camera, a wireless charger, automatic headlights, a heads-up display, and paddle shifters.
The Japanese auto retains its 1.5-litre, naturally-aspirated petrol engine, which can either be paired to a six-speed manual or automatic gearbox, providing an average fuel consumption of 5.7l/100km or 6.0l/100km, respectively.
With 85kW and 148Nm at its disposal, the Mazda 2 can also reach 100km/h in 9.6 seconds and achieve a top speed of 186km/h.
What you need to earn
We can use the following formula to work out the monthly payments on the new Mazda:
- Car price – R307,100/R398,700.
- 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 between R6,888 per month and R8,914 per month to take home the hatchback.
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 anywhere from R34,440 per month to R44,570 per month to afford the updated 2.
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 Mazda 2 in South Africa