Is a R2000 monthly car payment right for you?
Answer these questions to see if you're ready to take the plunge:
Do you have a stable monthly income that comfortably covers an R2000 car payment, fuel, insurance, and maintenance?
Have you researched insurance costs for the specific car you're interested in? (Hint: Get a few quotes!)
Are you prepared for unexpected maintenance costs, such as a major service or a tyre replacement? (A good rule of thumb is to have a savings buffer.)
Do you understand the car's service history? (This is crucial for a used vehicle.)
If you answered "yes" to these questions, a R2000 per month car might be a smart financial move. If not, it's worth revisiting your budget before signing the dotted line.
You only have to look at your fuel slip or till slip at the supermarket to realise how high the cost of living in South Africa has become. Most South Africans scratch their heads every month, wondering how they will pay for everything. And, those looking to buy a car have had to rethink their budgets completely, as those monthly repayments look scary, even if you buy a car for only R100,000, because the average cost of ownership for a budget-friendly car is too high.
What car can you buy for around R2000 per month?
Using our Car Finance Calculator, we calculated that if you wanted to buy a used car for R2000 per month (excluding insurance, etc.) without a deposit and pay it off over 72 months with our current interest rate, you'd have to pick a car that costs no more than about R97 500.
When you're shopping in this segment of the used-car market, you're looking at small, cheap city cars with high mileage, but there are a few diamonds in the rough if you are willing to take the time to search AutoTrader!
Which cheap cars are good?
When you're rummaging through the proverbial car-bargain bin, we recommend sticking to established brands such as Ford, Honda, Hyundai, Kia, Mazda, Nissan, Suzuki, Toyota, and Volkswagen. Search for these brands at under R100k here.
Our website makes it easy to filter your search for these cars between R50 000 and R100 000, and here are a few examples of sensible cheapies that will cause you the least amount of issues in the long run:
Toyota Aygo
The Aygo is a low-maintenance, easy-to-drive hatchback that has stood the test of time. We found an example of a 2016 model with 62 000 km on the odometer for R97 000, and the monthly repayment is R1 986 per month (with no deposit and over 72 months with our current interest rate). Search here for them.
Toyota Etios
We know the Etios isn't God's gift to the automotive world from a looks perspective, but it is one of the safest entry-level cars you can buy, and you can pick up relative bargains where the odometer reading isn't astronomically high.
A prime example is a 2015 1.5 Xs model with 97 000 km for R79 999. It will cost you R1,638 per month over 72 months, no deposit. Search for used Etios models up to R100 000 here.
Also consider: pre-loved Yaris models up to R100 000 here.
Related: Best used family cars for R100 000 or less - sedans
Kia Rio hatch or sedan
These cars aren't easy to find in this price range, but you might get lucky. The Rio is a spacious, safe, and reliable vehicle; it's a car you buy with your head. We have only three models on our site, in Jhb and Rhodesfield, for R91k, R98k, and R100k, respectively, all with under 100 000 km on the odometer.
However, as always, we recommend ensuring that pre-loved cars have a full service history. If you're unsure, take the car to be DEKRA checked.
Search for Kia Rio models under R100 000 here
Also consider: Pre-loved Kia Picanto Models up to R100 000 here.
Ford Figo
The Ford Figo (first generation) is a great little car that is always a go-to if you need a quality cheapie. They are inexpensive to run and service, and you can get a decent used model for about R70 000. With mileage of about 84 000 km, it will cost you R1 433 per month. And there are so many of them!
Related: Which affordable small car is the safest in SA?
Search for pre-loved Ford Figo models up to R100 000 here
Also consider: Ford Fiestas up to R100 000.
Hyundai Grand i10
Earlier Grand i10s are a hoot to drive, and we found some nice-looking Grand i10s on our site for about R80 000 with under 100 000 km on the odo, but be wary of cars with no service history! The Grand i10s are in high demand and therefore not that cheap.
Related: Safest small cars for new drivers
Honda Jazz
The Jazz is perhaps not the most exciting car to drive, but it is appreciated for its space, practicality, and low ownership costs. We found a used example with 120 000 km on the clock from 2007 for R65 000. This translates to a monthly repayment of R1 331.
Then, we also found another 2012 model with 85,000 km in Rhodesfield for R83 000, which works out to R1,699 per month (see above). Search for Honda Jazz models under R100 000 here.
Also, consider the Honda Brio hatch - search AutoTrader for Brios here
Suzuki Swift
One of our favourites in this lineup, thanks to its sporty driving dynamics and spacious cabin. Used models can be picked up for about R80 000 with under 100 000 km on the odometer. That's a monthly payment of about R1,640.
Related: Top 6 things you need to know about the Suzuki Swift.
Volkswagen Polo Vivo
A 2014 Polo Vivo Sedan 1.4 Trendline with 85 000 km on the odometer is up for grabs in Kempton Park for R84 000, which works out to R1 740 monthly. There are loads of hatchbacks, too!
Also consider the Volkswagen Up! You can search for pre-owned VW Up models at up to R100k here. But just like the Hyundai Grand i10, cheap ones that don't have outrageous mileage can be hard to find.
Verdict: Can you purchase a car for R2k per month?
Yes, you can buy a car for R2000 per month, but once you factor in insurance and maintenance costs as well as fuel, things can escalate quickly, so before you make this commitment, budget carefully so you don't default on your car payments and lose your vehicle (and good credit score).
