The new Range Rover Sport will cost its owners a minimum of R38,000 a month if bought on a finance plan, according to a calculation by TopAuto.
The base model luxury SUV has a South African starting price of R2,001,200 and is powered by a six-cylinder turbocharged diesel engine generating 258kW and 700Nm.
Furthermore, an eight-speed automatic transmission and an all-wheel-drive system mean this luxury SUV sprints to 100km/h in under seven seconds.
Standard features inside the Range Rover consist of ambient lighting, a multifunction steering wheel with paddle shifters, keyless entry and start, leather seats, 12-way adjustable heated front seats, rain-sensing wipers, automatic headlights, two-zone climate control with air quality sensors, a wireless phone charger, a configurable digital driver’s display, a 15-speaker Meridian sound system, and a 13.1-inch touchscreen with voice commands and Apple CarPlay and Android Auto support.
The high-end features are further complemented by a host of driver aids including hill assist, blind spot assist, lane-keep assist, adaptive cruise control, rear traffic monitoring, a 360-degree surround-view camera, and front and rear parking sensors.
Monthly payments
To calculate what the monthly payments on the most affordable new Range Rover Sport would be, we can use the following formula:
- Car price – R2,001,200
- Payment term – 60 terms (5 years)
- Interest – 9.5%
- Deposit – 10%
- Balloon – No balloon payment
- Extras – No optional extras
According to these figures, the entry-level Sport will require a monthly payment of at least R37,920.39.
Financial experts then recommend that you do not spend more than 20% of your gross monthly salary on vehicle payments.
From this, we can determine that prospective buyers will need to earn a minimum of R189,600 a month in order to comfortably “afford” this premium vehicle.
However, this figure does not include additional expenses that need to be factored into a car-buying budget, such as insurance, fuel, and maintenance.
Keyword: How much monthly payments will be on the cheapest new Range Rover Sport