{"id":657439,"date":"2023-01-22T13:00:23","date_gmt":"2023-01-22T11:00:23","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=657439"},"modified":"2023-01-20T16:38:17","modified_gmt":"2023-01-20T14:38:17","slug":"all-the-cars-you-can-buy-in-south-africa-at-the-start-of-the-new-year-for-under-r250000","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/motoring\/657439\/all-the-cars-you-can-buy-in-south-africa-at-the-start-of-the-new-year-for-under-r250000\/","title":{"rendered":"Cars you can buy for under R250,000 in South Africa right now"},"content":{"rendered":"

Despite heightened inflation and supply chain disruptions pushing new vehicle prices upwards, there are still 23 cars you can buy for under R250,000 in South Africa in 2023.<\/p>\n

With South Africa experiencing a deepening cost-of-living crisis and several years of recession and pandemic-related upheaval, many motorists are cutting costs where they can while others are simply looking for a car that they can afford in 2023.<\/p>\n

The cheapest car on this list is the Suzuki S-Presso 1.0 GL \u2013retailing at R162,900 at its dealerships. This hatchback produces 49kW of power and 89Nm of torque, which helps with its listed average fuel consumption of only 4.6L\/100km.<\/p>\n

Using Wesbank\u2019s vehicle finance calculator<\/a>, assuming no deposit and a 0% balloon payment over five years (60 months) at an interest rate of 10.5%, the estimated monthly repayment is R3,576 per month for the Suzuki S-Presso.<\/p>\n

The abovementioned interest rate follows a recent rate hike by the South African Reserve Bank (SARB) in November, taking the prime rate from 9.75% to 10.5%.<\/p>\n

Industry experts still recommend that prospective buyers shouldn\u2019t spend more than a quarter (25%) of their monthly income on vehicle-related costs. So, if you earn R20,000 monthly, your total vehicle expenses should not exceed R5,000. And this should apply to the whole vehicle expense, including:<\/p>\n