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What car matches your salary?

2017-08-24 06:01

Buying a new car is a daunting task, there are so many options to choose from and a lot to take into account, especially with regards to how much you can spend. Should you splurge on your dream car? Or go for something that suits your salary more comfortably?

Analytics group Lightstone published a report in 2016 that worked out what type of house or car you would be able to buy with your monthly salary.

The pricing is based that the assumption that 20% of a person’s salary will go towards vehicle repayments, an interest rate of Prime +2% (12.5%) on Vehicle Asset Finance, that car repayments will be made over a five year period, the stock price of the vehicle with no extras, and 100% financing with no deposit made in buying the car, initiation fees and other related costs are excluded.

Now that you know what you can afford, why don’t you head over to AutoTrader and select your next car? AutoTrader South Africa has been the leading media market space for the past 25 years for buying and selling vehicles. Whether you are looking to buy a brand new car or are in the market for a pre-loved model, AutoTrader has over 71 000 cars to choose from! Find your ideal car on AutoTrader.

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