The new BAIC Beijing X55 will require prospective buyers to earn a minimum of R43,000 per month if the vehicle is purchased on a finance plan, according to a calculation by TopAuto.
The Chinese carmaker’s latest addition is available in three trim levels with prices ranging from R394,900 for the entry-level Dynamic up to R454,900 for the range-topping Premium.
Regardless of the model selected, a 1.5-litre turbocharged petrol engine is used to send power to the front wheels, resulting in a power output of 130kW and 305Nm and a 0-100km/h sprint time of 7.8 seconds.
Combined with a seven-speed dual-clutch automatic gearbox, the crossover will manage 7.2l/100km on an average fuel cycle.
As for the equipment, each specification receives keyless start and entry, artificial leather upholstery, LED headlights, 18-inch alloy wheels, and two screens consisting of a 10.25-inch digital driver’s display and a 10.1-inch media unit with Apple CarPlay and Android Auto.
It also comes with four driving modes for Eco, Comfort, Sport, and Smart, as well as rear parking sensors, a reverse camera, auto brake hold, and hill assist.
What you need to earn
We can use the following formula to work out how much the monthly payments on the most affordable new X55 would be:
- Car price – R394,900
- Payment term – 60 terms (5 years)
- Interest – 10%
- Deposit – 10%
- Balloon – No balloon payment
- Extras – No optional extras
From this, we can determine that the crossover will require a payment of at least R8,485 per month.
Financial experts then recommend that you do not spend more than 20% of your gross monthly salary on vehicle payments.
This means that prospective buyers of the X55 will need to earn a minimum of R42,425 per month in order to comfortably “afford” the new vehicle.
One important consideration to keep in mind is that this figure does not factor in additional expenses such as insurance, fuel, and maintenance.
Keyword: What you need to earn to afford the cheapest BAIC Beijing X55