South Africans will need to earn at least R31,000 per month in order to afford VW’s latest Polo Sedan which now starts at R318,300.
The updated four-door sees a raft of new features with each specification now coming with LED headlights and taillights, a two-tone upholstery, a multifunction steering wheel, manual air conditioning, cruise control, a 7-inch infotainment unit with Apple CarPlay and Android Auto support, and 16-inch wheels.
The top-end Life model adds into the mix automatic climate control, rear park distance control, an eight-speaker sound system, keyless entry, a leather-wrapped steering wheel, a wireless phone charger, a rearview camera, and a larger 10-inch media screen.
Under the bonnet, the new VW range is powered by a 1.6-litre petrol engine generating 81kW and 152Nm, and this is paired with either a five-speed manual or six-speed Tiptronic gearbox, depending on the model.
Fuel consumption is therefore listed at 6.2l/100km on the manual and a slightly higher 6.5l/100km on the automatic, whereas acceleration from 0-100km/h is handled in 11.2 seconds and 12.2 seconds, respectively.
The boot is certified to carry 521 litres of cargo, too.
What you need to earn
We can use the following formula to calculate what the monthly payments would be on the entry-level VW Polo Sedan if bought through a finance plan.
- Car price – R318,300
- Payment term – 60 terms (5 years)
- Interest – 10%
- Deposit – 10%
- Balloon – No balloon payment
- Extras – No optional extras
According to these figures, the Polo will require a monthly payment of at least R6,181.30.
Financial experts then recommend that you do not spend more than 20% of your gross monthly salary on vehicle payments.
From this, we can calculate that anyone interested in the sedan will need to earn a minimum of R30,906.50 per month in order to “afford” the new vehicle.
It must be noted, however, that this figure does not account for additional expenses such as insurance, fuel, and maintenance.