{"id":558198,"date":"2022-02-19T17:30:41","date_gmt":"2022-02-19T15:30:41","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=558198"},"modified":"2022-02-18T13:47:47","modified_gmt":"2022-02-18T11:47:47","slug":"heres-what-car-r500000-buys-you-from-all-major-brands-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/motoring\/558198\/heres-what-car-r500000-buys-you-from-all-major-brands-in-south-africa\/","title":{"rendered":"Here’s what R500,000 buys you from all major car brands in South Africa"},"content":{"rendered":"

There is an ongoing replacement trend in South Africa, which is expected to continue throughout 2022, says Cyril Zhungu, head of automotive retail finance Standard Bank.<\/p>\n

Demand, he says, is being generated through vehicle model renewal and new vehicle model introductions, which remain a key factor in stimulating recent vehicle sales.<\/p>\n

Local vehicle manufacturers, importers and distributors have become more proficient in adapting to shifting consumer needs, said Zhungu. This includes an influx of mid-range SUVs into the country in recent years as South Africans migrate to ‘more’ terrain vehicles with good clearance.<\/p>\n

Hatchbacks, however, still remain the most sought-after shape, a recent BusinessTech poll showed, with several new models also in play in 2022, led by the Polo GTI.<\/p>\n

Calculations made using Wesbank’s<\/a> repayments calculator, including the assumption of a 0% deposit for car financing and no additional fees, shows that to afford a mid-range vehicle, one would need to earn a gross monthly salary of R41,900 or above, while monthly repayments of R10,500 would be enough to pay off a R500,000 vehicle.<\/p>\n

The likes of Volvo, Mercedes Benz, and BMW do not feature on this list as entry-level vehicles start at R654,442 for the Volvo XC40, R591,020 for the BMW 1 Series, and R660,554 for an A-Class Mercedes.<\/p>\n

Here are a few of the cars R500,000 can buy:<\/p>\n

\n

Volkswagen<\/strong><\/p>\n