Chery Tiggo 7 Pro Monthly Installment
by Leland Morrison, on 5 November 2023
Jump to
- Overview
- Evolution of the Chery Tiggo 7 Pro
- Chery Tiggo 7 Pro Price
- Chery Tiggo 7 Pro Monthly Installment
- Minimum Monthly Salary
- Alternatives
- Stats
- Tips to Secure the Best Monthly Installment
- Conclusion
Overview
The Chery Tiggo 7 Pro is a compact yet robust SUV developed by Chinese automaker, Chery International. Launched in 2020, the Tiggo 7 Pro is the new generation model of the Tiggo 7 series with its stylish design, enhanced features, and top-notch performance metrics. Suitable for city drives as well as off-road adventures, the car offers comfort, power and durability with a promise of an excellent driving experience wrapped in extravagance.
It boasts a 1.5L turbocharged engine with a CVT automatic gearbox that offers a swift and smooth driving experience. With its innovative technology and user-friendly interface, the Chery Tiggo 7 Pro serves not only as a vehicle but also as a lifestyle statement symbolizing modernity and urban chic.
Evolution
In recent times, Chery International has made a significant mark in the international automobile market with the Tiggo series. The evolution from the original Tiggo 7 to the Tiggo 7 Pro was a giant leap in terms of design and technology. It shows Chery's commitment towards innovation and customer satisfaction, focusing on producing cars that are equipped with cutting-edge features and sophisticated design elements.
The Tiggo 7 Pro has seen significant upgrades in comfortability, power, tech features, and safety mechanisms. These enhancements allow competent driving dynamics that make each ride safe, comfortable, and enjoyable. It excels in embedding modern technology, introducing a new level of integration like smart keyless entry and 10.25-inch touchscreen multimedia system, enhancing the SUV's overall appeal and performance.
Price
The Chery Tiggo 7 Pro is available in a range of variants, each with its own set of features and price tag. The base model starts at R442,900, while the top-of-the-line variant is priced at R477,900. The price of a particular variant depends on its engine, transmission, and other features.
| Variant | Price |
|---|---|
| 1.5T Distinction | R442,900 |
| 1.5T Executive | R477,900 |
Additional Costs to Consider:
- Dealer Fees: Can include documentation, processing, and other administrative charges.
- Optional Add-ons: Upgraded features, accessories, or enhancements that come at an extra cost.
- Extended Warranties: Offer prolonged protection for the product at an additional price.
- Other Costs: Miscellaneous expenses that might arise such as transfer of ownership.
Monthly Installment
Monthly payments for the Chery Tiggo 7 Pro vary between R7,761 and R9,784
The following table provides a few example calculations using the prime interest rate + 2% (13.75%) over a period of 6 years or 72 months.
| Variant | Price | Installment | 10% deposit | 10% deposit and residual |
|---|---|---|---|---|
| 1.5T Distinction | R442,900 | R9,067 | R8,160 | R7,761 |
| 1.5T Executive | R477,900 | R9,784 | R8,805 | R8,374 |
The installment goes down when a 10% deposit is provided and even further when a 10% residual is added
Factors affecting your monthly installment:
- Prime interest rate
- Loan term
- Deposit
- Residual
- Credit score
Minimum monthly salary
Banks typically recommend not spending more than 15% of your monthly salary on a car repayment. With that in mind, here is the recommended monthly salary for each variant:
| Minimum Salary | |||
|---|---|---|---|
| Variant | No deposit | 10% deposit | 10% deposit and residual |
| 1.5T Distinction | R60,447 | R54,403 | R51,741 |
| 1.5T Executive | R65,224 | R58,702 | R55,830 |
Alternatives
This is a compact to mid-size SUV, placing it in either the SUV-B or SUV-C segment. The table below gives a comparison to other alternatives in the SUV-C segment.
| Name | Monthly From | Monthly To | Popularity |
|---|---|---|---|
| Chery Tiggo 7 Pro | R7,761 | R9,784 | Low |
| Haval H6 | R8,618 | R13,715 | Medium |
| Hyundai Grand Creta | R9,350 | R13,194 | No Data |
Stats
Current popularity for the Chery Tiggo 7 Pro is Low with around 26 950 searches per month.
Tips to Secure the Best Monthly Installment Deal
Securing the best monthly installment deal is crucial for managing your finances effectively. Whether you're financing a car, home, or any other purchase, a favorable installment plan can save you money and reduce financial strain. Here are some tips to help you land the best deal:
- Research & Compare: Investigate various lenders, comparing their rates, terms, and fees using online tools.
- Check Credit Score: A better score can lead to lower rates. Regularly review and work on improving it.
- Negotiate: Don't settle for the first offer. Be informed about market rates and available promotions.
- Choose Shorter Terms: Longer terms might have smaller payments but higher interest. Opt for shorter terms if possible.
- Consider a Deposit: A significant deposit can reduce monthly payments and possibly get a better rate.
- Understand the Terms: Be clear on all conditions, especially penalties for early or missed payments.
- Maintain Your Budget: Determine your monthly limit and stick to it. Avoid tempting deals that exceed it.
- Seek Pre-approval: It provides clarity on what you qualify for and aids in negotiations.
By being diligent, informed, and proactive, you can secure a monthly installment deal that aligns with your financial goals and provides peace of mind.
Conclusion
Being informed regarding the Chery Tiggo 7 Pro price and monthly installment options is vital for potential purchasers. Having this knowledge gives you a financial advantage while negotiating your vehicle purchase, and can also aid in determining if this vehicle fits your budget.
I encourage any interested individuals to do thorough research and consult with financial advisors when considering a vehicle purchase. The purchase of a car is a significant investment, and it is wise to cover all bases before making a decision. The Chery Tiggo 7 Pro is a promising vehicle under Chery's label, providing an ideal blend of comfort, reliability, performance, and style without compromising on affordability.