Chery Tiggo 8 Pro Monthly Installment
by Leland Morrison, on 4 November 2023
Jump to
- Overview
- Evolution of the Chery Tiggo 8 Pro
- Chery Tiggo 8 Pro Price
- Chery Tiggo 8 Pro Monthly Installment
- Minimum Monthly Salary
- Alternatives
- Stats
- Tips to Secure the Best Monthly Installment
- Conclusion
Overview
The Chery Tiggo 8 Pro is an impressive mid-sized SUV that combines style, performance, and features that cater to the discerning car buyer. It is part of the broader Tiggo series offered by Chery, a Chinese-based car manufacturer renowned for producing high-quality vehicles with impressive features and affordable prices.
Offering a sleek exterior design and an interior that epitomizes comfort and convenience, the Tiggo 8 Pro offers a 1.6L turbocharged engine with a maximum power of 145kW or a 2.0T engine with a maximum power of 187kW. This is complemented by a set of advanced safety and connectivity features, setting new standards for vehicles in its category.
Furthermore, it offers ample space as a seven-seater, making it an excellent choice for families or groups. The Chery Tiggo 8 Pro is truly a testament to Chery's strides in innovation and quality.
Evolution
The evolution of the Chery Tiggo 8 Pro has been extensive over the years, with each iteration bringing significant improvements that enhance the driving experience for end-users. The boost in performance, comfort, safety standards is noticeable, as is the upgraded technology and refinement in design. These changes demonstrate how Chery has meticulously invested in R&D to compete on a global stage.
One key evolution has been its powertrain. Moving toward sustainability, Chery advanced its engine configuration to handle the demands of foreseeable eco-friendly transitions. This effort is complemented by the introduction of SmartLife technology into the Tiggo series, merging simplicity, technology, and innovation seamlessly into the user experience.
Price
The Chery Tiggo 8 Pro is available in a range of variants, each with its own set of features and price tag. The base model starts at R504,900, while the top-of-the-line variant is priced at R669,900. The price of a particular variant depends on its engine, transmission, and other features.
| Variant | Price |
|---|---|
| 1.6T Distinction | R504,900 |
| 1.6T Executive | R582,900 |
| 1.6T Executive Pro Max MY23 | R609,900 |
| 2.0T Executive Pro Max | R637,900 |
| 2.0T Executive Pro Max My23 | R669,900 |
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 8 Pro vary between R8,848 and R13,714
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 |
|---|---|---|---|---|
| 1.6T Distinction | R504,900 | R10,336 | R9,303 | R8,848 |
| 1.6T Executive | R582,900 | R11,933 | R10,740 | R10,214 |
| 1.6T Executive Pro Max MY23 | R609,900 | R12,486 | R11,237 | R10,688 |
| 2.0T Executive Pro Max | R637,900 | R13,059 | R11,753 | R11,178 |
| 2.0T Executive Pro Max My23 | R669,900 | R13,714 | R12,343 | R11,739 |
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 |
| 1.6T Distinction | R68,909 | R62,018 | R58,984 |
| 1.6T Executive | R79,555 | R71,599 | R68,096 |
| 1.6T Executive Pro Max MY23 | R83,240 | R74,916 | R71,251 |
| 2.0T Executive Pro Max | R87,061 | R78,355 | R74,522 |
| 2.0T Executive Pro Max My23 | R91,428 | R82,286 | R78,260 |
Alternatives
The Tiggo 8 Pro is a larger SUV, which would fit into either the SUV-C or SUV-D category. The table below gives a comparison to other alternatives in the SUV-D segment.
| Name | Monthly From | Monthly To | Popularity |
|---|---|---|---|
| Chery Tiggo 8 Pro | R8,848 | R13,714 | Low |
| Toyota Fortuner | R12,291 | R19,559 | No Data |
Stats
Current popularity for the Chery Tiggo 8 Pro is Low with around 28 100 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
Understanding the Chery Tiggo 8 Pro price and monthly installment options is crucial for potential buyers. This car presents an attractive mix of quality, design and performance, and affordability, making it a compelling choice in today's competitive market.
Being well-informed about your potential investment not only aids in making a sound decision but also ensures that it aligns with your financial capabilities. Therefore, it is crucial to conduct thorough research, consider all relevant factors, and consult with financial advisors to ensure a wise and sustainable decision.
We encourage potential buyers to approach the purchase considerately, bearing in mind the significance and impact of such an investment. The Chery Tiggo 8 Pro is more than just a car; it's a lifestyle choice that should resonate with your needs and aspirations.