How much bakkie can I buy for R5000 a month?

By Stuart Johnston 

For comparative purposes, AutoTrader’s standard repayment template for this sort of purchasing advice article assumes a 10 percent deposit on the purchase price, a repayment period of 60 months, and an interest rate on the financed amount of 12 percent.

Please note that there is no balloon payment factored in. Those TV ads that advertise highly desirable vehicles for what seem like mouth-wateringly low monthly repayments, often include hefty balloon payments in  the “terms and conditions” that aren’t detailed right there and then.

The trouble with a balloon payment is that it assumes a customer will save a certain amount each month to make that payment. In reality, what often happens is that at the end of the finance period the customer is forced to sell the vehicle to cover the balloon payment!

Blue-chip customers will be able to negotiate an interest rate much closer to the current prime interest rate of 10,25 (some clients can even secure an interest rate of slightly below prime!) but for most buyers, a rate of 12 percent interest on the financed amount is par for the course.

Another important point is that you leave sufficient money in your budget to cover comprehensive vehicle insurance. Too many customers default on their monthly insurance payments, and this often goes undetected by the finance company and the dealership where the vehicle was originally purchased. If a hefty accident then occurs, you will be liable to repay the loan on a vehicle that you cannot use!

The price ceiling is R245 000

Taking into account the R5 000 monthly repayment rate, we used WesBank’s repayment calculator (easily available online) to work out the ceiling purchase price for new bakkies. Using our standard repayment parameters (mentioned above), the ceiling price for a repayment of R5 000 a month is a list price of R245 000.

In the new pickup market,  a price of R245 000 means that you are limited to a choice of  40 different models. And of those, the well-respected names in the one-ton segment are offered in very basic, entry-level form.

The cheapest bakkie currently listed on the South African market is the Changan Star 1,3 at R139 900. The most expensive is the Volkswagen Amarok 3.0 V6 TDi Double Cab Extreme 4Motion, at R784 400. As a point of interest, the repayment on such an Amarok would be in the region of R16 500 a month!

The cheapest Toyota Hilux (South Africa’s best-selling  bakkie range) is the single-cab  Hilux 2.0, which costs R245 600. That sees it squeak just outside our repayment cut-off, although you may be able to negotiate a small discount with a dealer to make the cut! But bear in mind that this will be a paired-to-the bones workhorse (in terms of trim), in single-cab form.

The cheapest Isuzu costs just on the R245 000 mark, but it is also a single-cab workhorse with very workhorse spec, and doesn’t include airbags, ABS braking or air-conditioning in the package.

The same pretty much goes for the base Ranger, listed at  R229 900.

In view of this, we did what many buyers on a budget would do, and took a long look at some of the alternative Chinese brands available. Essentially these are previous-generation Japanese bakkies built under licence in China, although, notably, the Foton Tunland, uses very much its own mix of  top-drawer mechanicals to good effect. In short, by opting for one of these brands, you can get a double cab with a degree of in-car comfort for bare-bones single cab money if you were to opt for one of the trad Japanese brands.

Our Top 5, for under R5 000 a month

GWM Steed 5 2,0 VGT Double Cab SX (R249 900).  The Steed 6, with improved NVH (noise, vibrations and harshness) and ride, is out of our price range, if we were to opt for a diesel model. This is a turbodiesel  4X2  double-cab with a striking resemblance to the previous-gen Isuzu KB, on which it was based, and that was always one of our favourite pick-ups! You get 105 kW and 305 Nm of turbodiesel grunt, as well as two airbags, ABS braking and air-con.

Foton Tunland 2.8 off-road Comfort (R209 995). This version of the Tunland is the single-cab model and the reason it makes our list, apart from having  air-con, two airbags and ABS braking, is that it uses the amazing Cummins diesel engine, with a Getrag gearbox. Both top quality items. It is rear-wheel-drive only at this price level, but it is surprisingly well-built. It’s also good-looking, although some have criticised it for a very firm ride. The double-cab version is still well-priced, but will cost you R40 000 more.

Nissan NP200 1.6 16V High (R226 500) . This is the only half-to-three-quarter ton car-based pick-up still available on the South African market. In the past the Nissan’s competition came from the Opel Corsa/Chev-based picked up, but sadly that came to an end as General Motors once again pulled out of South Africa. This Nissan is petrol-engined and fully-equipped with two airbags, ABS brakes, cruise control and Bluetooth. We’d probably have gone for the diesel, but it is priced just beyond our R5 000 a month cut-off.

Mahindra Bolero 2.5 TD Double Cab 4X4 (R236 995). Mahindra is a brand that remains under the radar in South Africa, not reporting sales figures to NAAMSA and rarely making road test vehicles available to the media. We’ve included the Bolero here as the most workhorse-like pick-up in our list. They have developed a good reputation in farming areas. Drive around Nelspruit and see how many Boleros are running around there, doing heavy duty. There are no safety nets, such as airbags or ABS, but for a double cab 4X4 at under R245 000, it surely warrants a look!

Isuzu KB 250 (R245 000). This is the only bakkie from the so-called major brands here, and we include it as an indication of what you can expect in the way of extras. The answer is, nothing, apart from Bluetooth. No ABS or airbags or even air-con. So, this is the 58 kW diesel bakkie you buy as a workhorse with the back-up of a major dealership network, established over the last 40 years. The most expensive Isuzu KB you can buy, the 130 kW diesel KB 300 D –teq Double Cab 4X4 with all bells and whistles, weighs in at R580 600.