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The cars you can afford with your salary in South Africa in 2022


South Africa’s new-vehicle market is expected to continue its gradual recovery in 2022, but recurring issues including load shedding and global chip shortages will continue to bite.

“The new vehicle market remained quite resilient in 2021, weathering a multitude of challenges throughout the year. Overall, it was a year of recovery, which is expected to continue into 2022,” Nedbank said in a research note this week.

On the domestic front, GDP growth of around 1.8% will support new vehicle sales, but a much higher and sustained economic growth will be required to move sales to a higher plane altogether, the bank said.

“The threat of the coronavirus, load shedding and unemployment remains the most significant downside risks to the rebound in sales. The obstacles presented by supply chain issues, high logistical costs and the semi-conductor shortage are expected to persist, the extent of which depends on the highly uncertain trajectory of the virus across the globe.

“A glimmer of hope, specifically to export volumes, include the introduction of new model introductions as well as a robust global recovery.”

Motorists will also grapple with increasingly more expensive cars, with experts recommending that you shouldn’t spend more than a quarter (25%) of your monthly income on vehicle-related costs. So, if you are earning R20,000 per month, your total vehicle expenses should not exceed R5,000. And this should apply to the full vehicle expense including:

  • Vehicle instalments
  • Insurance premiums
  • Fuel costs

Below BusinessTech looked at what you can afford to buy on your monthly salary in South Africa, using the above assumption that people are not going to spend more than 25% of their gross monthly income on vehicle financing.

The calculations were made using Wesbank’s repayments calculator and include the assumption of a 0% deposit for car financing. They also exclude any additional fees which could be incurred during the inception of the loan into the calculation. Finally, the cars are financed over five years (60 months) at an annual interest rate of 9%.

These calculations are purely for comparison purposes and are not meant as financial advice. 

Price of car Monthly repayment Gross monthly salary required
R150 000 R3 207.82 R12 831
R200 000 R4 245.74 R16 982
R300 000 R6 321.57 R25 286
R500 000 R10 473.24 R41 892
R750 000 R15 662.83 R62 651
R1 000 000 R20 852.42 R83 409
R2 000 000 R41 610.78 R166 443
R5 000 000 R103 885.84 R415 543

Below is an overview of the cars you can currently buy in South Africa at each of these price points:

Suzuki Celerio 1.0 GA – From R153,900

Suzuki S-Presso 1.0 GL – From R152,900


Toyota Agya 1.0 auto – From R199,300

Renault Triber 1.0 Expression – From R193,400


Mitsubishi Xpander 1.5 -From  R299,995

KIA Sonet 1.5 LX Manual – From R285,995


Isuzu D-Max 250 double cab Hi-Ride auto – From R500,000

Audi A1 Sportback 30TFSI – From R447,500


Nissan Navara 2.5DDTi double cab PRO-4X 4×4 – R749,000

Ford Everest 3.2TDCi 4WD XLT – R748,200


Audi Q5 Sportback 40TDI quattro S line – R1,000,000

BMW X3 xDrive 20d – From R997,176


Jaguar I-Pace EV400 AWD S Black – From R1,999,900

Land Rover Range Rover Sport HSE Dynamic Black P400e – From R1,988,600


Bentley Continental GT Speed coupe – From R4,945,000

Ferrari Portofino M – From R,4 956,200


Read: South Africa’s car market has shifted: here’s what to expect in 2022



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