These are the second-hand cars you can afford with your salary in South Africa

 ·22 May 2018

Analytics group Lightstone recently released a report detailing the value of the type of second-hand car you can afford based on your monthly salary in South Africa in 2018.

The report is based on current South African vehicle prices and salaries (May 2018), and assumes that people are not going to spend more than 20% of their gross monthly income on financing a car. The calculations also assume that the vehicles are financed over five years at an interest rate of prime +2%.

According to TransUnion’s latest Vehicle Pricing Index, the make-up of used vehicle sales has shown that 46% are under two years old and 9% were demo models which indicates consumers are opting for cars that are less than two years old.

The percentage of cars (new and used) being financed below R200,000 has remained consistent to last quarters numbers with 43% in Q1.

“This has shown a marginal increase in used car loans which has being consistent at around R242,000. This indicates a shifting emphasis on the value proposition that consumers place on their vehicles, as they look for the maximum amount of value from a car,” TransUnion said.

When it comes to the types of cars, unsurprisingly, Toyota and VW dominate both the new and used space, capturing more than 35% of the new and used passenger financed volumes, through vehicles including the Polo and Vivo range, the Fortuner and Corolla models.

Using this R242,000 amount, Lightstone estimates that you would need to earn between R26,000-R30,000 to pay for the average second-hand car purchase in South Africa.

Pricing is based on:

  • Assumption that people are not going to spend more than 20% of their gross monthly income on financing a car and not more than 30% on servicing a home loan.
  • Assumption of a 0% deposit for both home and car financing (but excluding additional fees incurred during the inception of the loan  into the calculation.).
  • Assumption that the cars are financed over 5 years at an interest rate of prime + 2%.
Income required Used vehicles Year Used car price
R396 000 Huracan LP610-4 5.2 AWD Coupe 2014 R3 544 000
R230 000 Mercedes AMG SLS Coupe 2015 R2 055 000
R177 000 Range Rover Sport  3.0 V6 Supercharger S 4X4  2017  R1 044 300
R100 000 BMW Active Hybrid 7 3.0 M Sport  2015  R892 200
R73 000 Toyota Landcruiser Prado 4.0 VX 4X4  2015  R653 200
R63 000 Audi A5 Coupe 2.0T FSI MY17 Sport S-Tronic  2017  R565 400
R51 000 Chevrolet Trailblazer 2.8 LTZ DSL SUV 4X4  2016  R452 900
R48 000 Audi S1 Sportback 2.0T FSI Quattro  2016  R423 100
R39 000 Ford Fusion 2.0 Ecoboost Trend  2016  R341 700
R26 000 Volkswagen Amarok 2.0 TDI Basic  2015  R224 700
R20 000 Peugeot 208 Active 1.2 Puretech  2016  R175 900
R12 000 Suzuki Swift 1.2 GA  2014  R99 900


Lamborghini Huracan

Mercedes AMG

Range Rover Sport

BMW Active Hybrid 7

Toyota Landcruiser Prado

Audi A5 Coupe

Chevrolet Trailblazer

Audi S1 Sportback

Ford Fusion

Volkswagen Amarok

Peugeot 208 Active

Suzuki Swift

Read: These are the homes you can afford to buy with your salary in South Africa

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