{"id":125927,"date":"2016-06-06T19:15:07","date_gmt":"2016-06-06T17:15:07","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=125927"},"modified":"2016-06-07T10:43:53","modified_gmt":"2016-06-07T08:43:53","slug":"these-are-the-cars-you-can-afford-with-your-salary-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/125927\/these-are-the-cars-you-can-afford-with-your-salary-in-south-africa\/","title":{"rendered":"These are the cars you can afford with your salary in South Africa"},"content":{"rendered":"<p>Research by\u00a0analytics group Lightstone shows\u00a0the value of the\u00a0car\u00a0you can afford\u00a0on your monthly salary in South Africa.<\/p>\n<p>Previous data from the group showed what house price one could afford &#8211; and in which types of neighbourhoods &#8211; based on a gross salary in the country.<\/p>\n<p>The assessment assumes that 30% of a person&#8217;s gross salary would go towards paying a mortgage over 20 years.<\/p>\n<p><strong>Read:\u00a0<a title=\"What house you can afford to buy with your monthly salary in SA\" href=\"http:\/\/businesstech.co.za\/news\/general\/125581\/what-house-you-can-afford-to-buy-with-your-monthly-salary-in-sa\/\" rel=\"bookmark\">What house you can afford to buy with your monthly salary in SA<\/a><\/strong><\/p>\n<p>Now the group looks at cars &#8211; the value of the car you can afford based on your monthly salary, assuming 20% of the gross goes towards the vehicle, financed over 5 years.<\/p>\n<p>According to Lightstone&#8217;s findings, a\u00a0salary of R49,900 could get you a R1.5\u00a0million\u00a0property in Noordheuwel, and you could add a vehicle\u00a0worth R442,000 &#8211; like a brand new Kia Sportage 2.0 AWD AT (2014), or a second hand Mitsubishi\u00a0Pajero BK 3.2 DI-DC.<\/p>\n<p>A salary of R41,600 could afford a R1. 25\u00a0million\u00a0property in Parkhill in KwaZulu\u00a0Natal, and a brand new MINI Cooper convertible 1.6 MY16 worth R368,000.<\/p>\n<p>The table below shows how much you could spend on a car based on your monthly salary &#8211; as well as examples of both new and second-hand cars in the given price range.<\/p>\n<p>The pricing is based on:<\/p>\n<ul>\n<li>Assumed\u00a0allocation of 20% of a person\u2019s salary (as a broad average, taking into account\u00a0the fact that 30% of a person\u2019s salary went toward mortgage repayments)<\/li>\n<li>An interest rate of Prime + 2% (12.5%) on Vehicle Asset Finance<\/li>\n<li>Car repayments made over a five year period<\/li>\n<li>Stock price of a vehicle with no extras<\/li>\n<li>100% financing with no deposit made in purchasing the car, but initiation fees and other\u00a0related costs are excluded.<\/li>\n<\/ul>\n<div class=\"bt_table\">\n<div class=\"table-responsive\"><table class=\"table\" width=\"100%\" cellspacing=\"0\" cellpadding=\"6\">\n<tbody>\n<tr>\n<th bgcolor=\"#CCCCCC\" width=\"20%\">Gross monthly salary<\/th>\n<th bgcolor=\"#CCCCCC\" width=\"20%\">Car\u00a0value*<\/th>\n<th bgcolor=\"#CCCCCC\" width=\"30%\">Types of cars in range<\/th>\n<th bgcolor=\"#CCCCCC\" width=\"30%\">Types of second-hand cars in range<\/th>\n<\/tr>\n<tr>\n<td>R327 800<\/td>\n<td>R2 914 000<\/td>\n<td>Maserati Grandcabrio MC Automatic Cabriolet<\/td>\n<td>Lamborghini Gallardo LP550-2\u00a0(2014)<\/td>\n<\/tr>\n<tr>\n<td>R213 000<\/td>\n<td>R1 893 500<\/td>\n<td>Jaguar F-Type 5.0 V8 R Coupe AWD (2016)<\/td>\n<td>Porche 911\/997 3.8 Speedster Cabriolet PDK<\/td>\n<\/tr>\n<tr>\n<td>R106 500<\/td>\n<td>R946 750<\/td>\n<td>Land Rover Range Rover Evoque 2.0 SI4 Autobiography (2016)<\/td>\n<td>BMW 750i\u00a0(2012)<\/td>\n<\/tr>\n<tr>\n<td>R89 900<\/td>\n<td>R799 185<\/td>\n<td>BMW 440i Gran Coupe 8-SP Sports Model\u00a0(2016)<\/td>\n<td>Mercedes ML 500 Blue Efficiency 4&#215;4 Automatic<\/td>\n<\/tr>\n<tr>\n<td>R66 600<\/td>\n<td>R592 050<\/td>\n<td>Subaru Outback 3.6 RS AWD CVT\u00a0(2016)<\/td>\n<td>Toyota Landcruiser Prado 3.0 DT VX\u00a0(2013)<\/td>\n<\/tr>\n<tr>\n<td>R58 200<\/td>\n<td>R517 380<\/td>\n<td>Audi A4 2.0T FSI Sport S-Tronic\u00a0(2016)<\/td>\n<td>Jaguar XF 3.0D S Premium Luxury\u00a0(2012)<\/td>\n<\/tr>\n<tr>\n<td>R49 900<\/td>\n<td>R443 600<\/td>\n<td>Kia Sportage 2.0 AWD\u00a0(2014)<\/td>\n<td>Mitsubishi Pajero BK 3.2 DI-DC GLS\u00a0(2012)<\/td>\n<\/tr>\n<tr>\n<td>R41 600<\/td>\n<td>R369 800<\/td>\n<td>Mini Cooper Convertible 1.6\u00a0(2016)<\/td>\n<td>Toyota Fortuner 3.0 D-4D 4&#215;4 DSL Limited Edition<\/td>\n<\/tr>\n<tr>\n<td>R33 300<\/td>\n<td>R296 000<\/td>\n<td>Mazda 3 2.0 Individual 5-DR\u00a0(2014)<\/td>\n<td>Audi TT Coupe 1.8T FSI<\/td>\n<\/tr>\n<tr>\n<td>R23 300<\/td>\n<td>R207 130<\/td>\n<td>Hyundai i20 1.2 Motion 5-DR\u00a0(2015)<\/td>\n<td>Ford Ecosport 1.0 Ecoboost Titanium<\/td>\n<\/tr>\n<tr>\n<td>R16 600<\/td>\n<td>R147 570<\/td>\n<td>Toyota Etios SD 1.5 XI\u00a0(2015)<\/td>\n<td>Honda Ballade 1.5 Elegance Automatic<\/td>\n<\/tr>\n<tr>\n<td>R10 000<\/td>\n<td>R88 900<\/td>\n<td>Geely LC 1.0 GS 5-DR<\/td>\n<td>Kia Picanto 1.0 5-DR\u00a0(2011)<\/td>\n<\/tr>\n<tr>\n<td>R6 300<\/td>\n<td>R53\u00a0340<\/td>\n<td>&#8211;<\/td>\n<td>Chery QQ3 0.8 TE 5-DR<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n<p><small>*Financed over 5\u00a0years at 20%<\/small><\/p>\n<p>&#8220;We weighted 30% of a person\u2019s gross monthly salary on mortgage repayments and 20%\u00a0on car finance, but this ratio could quite easily be adjusted for individual needs and investment\u00a0preferences,&#8221; the group said.<\/p>\n<p>&#8220;A person at the coast may opt to spend less on their car as the perception of humidity\u00a0and salty sea causing substantial damage to it in the long run increases; whereas a person living in\u00a0Pretoria and travelling to JHB each day might opt to spend more on a more comfortable car to provide\u00a0more comfort during the long daily commute.&#8221;<\/p>\n<p>&#8220;At the end of the day individual home and vehicle buyers will have to make\u00a0informed decisions based on their personal affordability assessments on how much they are willing to\u00a0spend on each.&#8221;<\/p>\n<p><strong>R2.9 million\u00a0car &#8211;\u00a0Maserati Grandcabrio MC Automatic Cabriolet<\/strong><br \/>\n<em>Needed gross salary:\u00a0R327,800 per month<\/em><\/p>\n<p><a  data-lightbox=\"post-image\" href=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Maserati-Grandcabrio-MC-Automatic-Cabriolet.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-new-size wp-image-125945\" src=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Maserati-Grandcabrio-MC-Automatic-Cabriolet-640x371.jpg\" alt=\"Maserati Grandcabrio MC Automatic Cabriolet\" width=\"640\" height=\"371\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Maserati-Grandcabrio-MC-Automatic-Cabriolet-640x371.jpg 640w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Maserati-Grandcabrio-MC-Automatic-Cabriolet-300x174.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Maserati-Grandcabrio-MC-Automatic-Cabriolet-768x445.jpg 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Maserati-Grandcabrio-MC-Automatic-Cabriolet.jpg 895w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<p><strong>R946,750\u00a0car &#8211;\u00a0Land Rover Range Rover Evoque 2.0<\/strong><br \/>\n<em>Needed gross salary: R106,500 per month<\/em><\/p>\n<p><a  data-lightbox=\"post-image\" href=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Land-Rover-Range-Rover-Evoque-2.0.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-new-size wp-image-125943\" src=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Land-Rover-Range-Rover-Evoque-2.0-640x426.png\" alt=\"Land Rover Range Rover Evoque 2.0\" width=\"640\" height=\"426\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Land-Rover-Range-Rover-Evoque-2.0-640x426.png 640w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Land-Rover-Range-Rover-Evoque-2.0-300x200.png 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Land-Rover-Range-Rover-Evoque-2.0-768x511.png 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Land-Rover-Range-Rover-Evoque-2.0.png 790w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<p><strong>R592,050 car\u00a0&#8211;\u00a0Subaru Outback 3.6 RS<\/strong><br \/>\n<em>Needed gross salary: R66,600 per month<\/em><\/p>\n<p><a  data-lightbox=\"post-image\" href=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Subaru-Outback-3.6-RS.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-new-size wp-image-125941\" src=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Subaru-Outback-3.6-RS-640x349.jpg\" alt=\"Subaru Outback 3.6 RS\" width=\"640\" height=\"349\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Subaru-Outback-3.6-RS-640x349.jpg 640w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Subaru-Outback-3.6-RS-300x164.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Subaru-Outback-3.6-RS.jpg 660w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<p><strong>R369 800 car\u00a0&#8211;\u00a0Mini Cooper Convertible 1.6\u00a0<\/strong><br \/>\n<em>Needed gross salary: R41,600 per month<\/em><\/p>\n<p><a  data-lightbox=\"post-image\" href=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Mini-Cooper-Convertible-1.6-.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-new-size wp-image-125939\" src=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Mini-Cooper-Convertible-1.6--640x426.png\" alt=\"Mini Cooper Convertible 1.6\" width=\"640\" height=\"426\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Mini-Cooper-Convertible-1.6--640x426.png 640w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Mini-Cooper-Convertible-1.6--300x200.png 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Mini-Cooper-Convertible-1.6--768x511.png 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Mini-Cooper-Convertible-1.6-.png 790w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<p><strong>R207,130 car\u00a0&#8211;\u00a0Hyundai i20 1.2 Motion<\/strong><br \/>\n<em>Needed gross salary: R23 300 per month<\/em><\/p>\n<p><a  data-lightbox=\"post-image\" href=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Hyundai-i20-1.2-Motion.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-new-size wp-image-125937\" src=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Hyundai-i20-1.2-Motion-640x386.png\" alt=\"Hyundai i20 1.2 Motion\" width=\"640\" height=\"386\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Hyundai-i20-1.2-Motion-640x386.png 640w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Hyundai-i20-1.2-Motion-300x181.png 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Hyundai-i20-1.2-Motion-768x463.png 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Hyundai-i20-1.2-Motion.png 790w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<p><strong>R88,900 car &#8211;\u00a0Geely LC 1.0 GS<br \/>\n<\/strong><em>Needed gross salary: R10,000 per month<\/em><\/p>\n<p><a  data-lightbox=\"post-image\" href=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Geely-LC-1.0-GS.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-new-size wp-image-125935\" src=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Geely-LC-1.0-GS-640x386.png\" alt=\"Geely LC 1.0 GS\" width=\"640\" height=\"386\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Geely-LC-1.0-GS-640x386.png 640w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Geely-LC-1.0-GS-300x181.png 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Geely-LC-1.0-GS-768x463.png 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Geely-LC-1.0-GS.png 790w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<h3 class=\"my-4\">More on cars<\/h3>\n<p><strong><a title=\"What house you can afford to buy with your monthly salary in SA\" href=\"http:\/\/businesstech.co.za\/news\/general\/125581\/what-house-you-can-afford-to-buy-with-your-monthly-salary-in-sa\/\" rel=\"bookmark\">What house you can afford to buy with your monthly salary in SA<\/a><\/strong><\/p>\n<p><strong><a title=\"Permalink to Are these the 3 most stolen cars in South Africa?\" href=\"http:\/\/businesstech.co.za\/news\/motoring\/124395\/are-these-the-3-most-stolen-cars-in-south-africa\/\" rel=\"bookmark\">Are these the 3 most stolen cars in South Africa?<\/a><\/strong><\/p>\n<p><strong><a title=\"Permalink to These are the most popular classic cars among SA millionaires\" href=\"http:\/\/businesstech.co.za\/news\/lifestyle\/120411\/these-are-the-most-popular-classic-cars-among-sa-millionaires\/\" rel=\"bookmark\">These are the most popular classic cars among SA millionaires<\/a><\/strong><\/p>\n<p><strong><a title=\"Permalink to Top 15 best selling cars in South Africa in 2015\" href=\"http:\/\/businesstech.co.za\/news\/lifestyle\/112513\/top-15-best-selling-cars-in-south-africa-in-2015\/\" rel=\"bookmark\">Top 15 best selling cars in South Africa in 2015<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Research by analytics group Lightstone shows the value of the car you can afford on your monthly salary in South Africa.<\/p>\n","protected":false},"author":10,"featured_media":125947,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11119,9880],"tags":[26,7421],"class_list":["post-125927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-motoring","category-wealth","tag-headline","tag-lightstone"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/125927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=125927"}],"version-history":[{"count":8,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/125927\/revisions"}],"predecessor-version":[{"id":125999,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/125927\/revisions\/125999"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/125947"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=125927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=125927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=125927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}