South Africans wishing to take home the new BMW X5 will need to earn at least R190,000 per month, according to a calculation by TopAuto.
Prices for the luxury SUV start at R1,706,850, and go all the way up to R2,116,413 for the range-topping model.
The BMW is offered with one of three turbocharged powertrains – a 3.0-litre petrol or diesel, or a 4.4-litre petrol – all of which are mated to an eight-speed Steptronic automatic gearbox and an xDrive all-wheel-drive system.
You can see the performance figures for each of the three engines in the table below:
| Model | Power | 0-100km/h | Top speed | Fuel cons. |
|---|---|---|---|---|
| xDrive30d | 219kW/670Nm | 6.1 seconds | 233km/h | 7.8l/100km |
| xDrive40i | 280kW/540Nm | 5.4 seconds | 250km/h | 9.3l/100km |
| M60i | 390kW/750Nm | 4.3 seconds | 250km/h | 11.9l/100km |
All units are equipped with paddle shifters and adaptive suspension, and the M60i even comes with rear-axle steering that shorten its turning circle.
Visually, the kidney grill now has a pearl-effect chrome finish, and the SUV is equipped with Matrix LED headlights and alloy wheels ranging from 20 to 21 inches in size.
The interior features the Live Cockpit package as standard with a single curved panel on the dash comprised of a 12.3-inch driver display and a 14.9-inch infotainment unit with Apple CarPlay, Android Auto, and cloud-based navigation.
The X5 also comes standard with Sports seats, leather upholstery, dual-zone climate control, automatic speed limit assist, exit warning functions, route-based speed control, emergency stop assist, lane-change assist, a rearview camera with reverse assist, and parking assist.
What you need to earn
We can use the following formula to calculate the monthly payments on the new X5.
- Car price – R1,706,850/R2,116,413
- Payment term – 60 terms (5 years)
- Interest – 11.75%
- Deposit – 0%
- Balloon – No balloon payment
- Extras – No optional extras
According to this, motorists will need to spend at least R37,848 per month for the xDrive30d, or up to R46,907 per month for the M60i.
Financial experts then recommend that you do not spend more than 20% of your gross monthly salary on vehicle payments.
This means anyone wishing to own a BMW X5 will need to earn anywhere from R189,240 per month to R234,535 per month.
Note that this figure does not account for insurance, fuel, and maintenance, which all need to be factored into your budget.
Keyword: What you need to earn to afford the new BMW X5