{"id":186055,"date":"2017-07-22T18:00:12","date_gmt":"2017-07-22T16:00:12","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=186055"},"modified":"2017-07-21T17:07:53","modified_gmt":"2017-07-21T15:07:53","slug":"how-much-you-are-likely-to-spend-on-a-car-based-on-what-you-earn","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/motoring\/186055\/how-much-you-are-likely-to-spend-on-a-car-based-on-what-you-earn\/","title":{"rendered":"How much you are likely to spend on a car – based on what you earn"},"content":{"rendered":"

Capitec has released a new graph detailing what type of transport you should be using based on your current monthly salary.<\/p>\n

While the graph itself is based on Capitec data, the bank noted that a good rule of thumb is that the price of the car should be no more than 30% of your annual gross salary, and your monthly car costs should add up to no more than 10%.<\/p>\n

Capitec also asked its clients how they would purchase a vehicle, with the answers equating to a near perfect three-way split. 37.17% said that they would require a hire purchase agreement, while 32.33% said they would opt for cash and 30.5% stated they would opt for a residual purchase.<\/p>\n

\"\"<\/a><\/p>\n

Research by analytics group Lightstone <\/a>also recently tackled the question of which cars you can afford based on your monthly salary.<\/p>\n

The data was based on specific car models based and 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

The table below shows how much you could spend on a car based on your monthly salary \u2013 as well as examples of both new and second-hand cars in the given price range.<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Gross monthly salary<\/th>\nCar\u00a0value*<\/th>\nTypes of cars in range<\/th>\nTypes of second-hand cars in range<\/th>\n<\/tr>\n
R327 800<\/td>\nR2 914 000<\/td>\nMaserati Grandcabrio MC Automatic Cabriolet<\/td>\nLamborghini Gallardo LP550-2\u00a0(2014)<\/td>\n<\/tr>\n
R213 000<\/td>\nR1 893 500<\/td>\nJaguar F-Type 5.0 V8 R Coupe AWD (2016)<\/td>\nPorche 911\/997 3.8 Speedster Cabriolet PDK<\/td>\n<\/tr>\n
R106 500<\/td>\nR946 750<\/td>\nLand Rover Range Rover Evoque 2.0 SI4 Autobiography (2016)<\/td>\nBMW 750i\u00a0(2012)<\/td>\n<\/tr>\n
R89 900<\/td>\nR799 185<\/td>\nBMW 440i Gran Coupe 8-SP Sports Model\u00a0(2016)<\/td>\nMercedes ML 500 Blue Efficiency 4×4 Automatic<\/td>\n<\/tr>\n
R66 600<\/td>\nR592 050<\/td>\nSubaru Outback 3.6 RS AWD CVT\u00a0(2016)<\/td>\nToyota Landcruiser Prado 3.0 DT VX\u00a0(2013)<\/td>\n<\/tr>\n
R58 200<\/td>\nR517 380<\/td>\nAudi A4 2.0T FSI Sport S-Tronic\u00a0(2016)<\/td>\nJaguar XF 3.0D S Premium Luxury\u00a0(2012)<\/td>\n<\/tr>\n
R49 900<\/td>\nR443 600<\/td>\nKia Sportage 2.0 AWD\u00a0(2014)<\/td>\nMitsubishi Pajero BK 3.2 DI-DC GLS\u00a0(2012)<\/td>\n<\/tr>\n
R41 600<\/td>\nR369 800<\/td>\nMini Cooper Convertible 1.6\u00a0(2016)<\/td>\nToyota Fortuner 3.0 D-4D 4×4 DSL Limited Edition<\/td>\n<\/tr>\n
R33 300<\/td>\nR296 000<\/td>\nMazda 3 2.0 Individual 5-DR\u00a0(2014)<\/td>\nAudi TT Coupe 1.8T FSI<\/td>\n<\/tr>\n
R23 300<\/td>\nR207 130<\/td>\nHyundai i20 1.2 Motion 5-DR\u00a0(2015)<\/td>\nFord Ecosport 1.0 Ecoboost Titanium<\/td>\n<\/tr>\n
R16 600<\/td>\nR147 570<\/td>\nToyota Etios SD 1.5 XI\u00a0(2015)<\/td>\nHonda Ballade 1.5 Elegance Automatic<\/td>\n<\/tr>\n
R10 000<\/td>\nR88 900<\/td>\nGeely LC 1.0 GS 5-DR<\/td>\nKia Picanto 1.0 5-DR\u00a0(2011)<\/td>\n<\/tr>\n
R6 300<\/td>\nR53\u00a0340<\/td>\n–<\/td>\nChery QQ3 0.8 TE 5-DR<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n
\n

Read:\u00a0The fastest growing area in South Africa for millionaires<\/a><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Capitec has released a new graph detailing what type of transport you should be using based on your current monthly salary.<\/p>\n","protected":false},"author":10,"featured_media":186063,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11119],"tags":[26],"class_list":["post-186055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-motoring","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/186055","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=186055"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/186055\/revisions"}],"predecessor-version":[{"id":187265,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/186055\/revisions\/187265"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/186063"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=186055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=186055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=186055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}