Ford Everest Monthly Installment
by Leland Morrison, on 23 January 2024
Jump to
- Overview
- Evolution of the Ford Everest
- Ford Everest Price
- Ford Everest Monthly Installment
- Minimum Monthly Salary
- Alternatives
- Stats
- Tips to Secure the Best Monthly Installment
- Conclusion
Overview
The Ford Everest, also known as the Ford Endeavour in some markets, is a mid-size sports utility vehicle (SUV) built by the American automaker Ford Motor Company. It is designed to tackle both urban landscapes and off-road terrains with ease. Known for its rugged build, the Everest offers comfortable seating, advanced safety features, and is equipped with modern technology that complements its practical and adventurous persona.
Often lauded for its spacious interiors and powerful engine options, the Everest provides an alluring combination of functionality and style. It appeals to a broad audience, from families looking for a versatile vehicle to adventurers seeking a dependable companion for their escapades.
Evolution
Since its debut, the Ford Everest has undergone several iterations, with each new model boasting improvements over its predecessors. Beginning with a more utilitarian approach, the Everest has progressively become more sophisticated in terms of design, comfort, and technological advancements.
The various generations of the Everest have seen enhancements in fuel efficiency, safety systems, and integration of infotainment technologies, reflecting Ford's commitment to innovation and customer satisfaction. These updates have maintained the Everest's status as a competitive player in the global SUV market.
Price
The Ford Everest is available in a range of variants, each with its own set of features and price tag. The base model starts at R899,000, while the top-of-the-line variant is priced at R1,224,900. The price of a particular variant depends on its engine, transmission, and other features.
| Variant | Price |
|---|---|
| XLT | R899,000 |
| Sport | R984,700 |
| Wildtrak | R1,160,600 |
| Platinum | R1,224,900 |
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 Ford Everest vary between R15,298 and R24,427
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 |
|---|---|---|---|---|
| XLT | R899,000 | R17,928 | R16,135 | R15,298 |
| Sport | R984,700 | R19,637 | R17,674 | R16,756 |
| Wildtrak | R1,160,600 | R23,145 | R20,831 | R19,749 |
| Platinum | R1,224,900 | R24,427 | R21,985 | R20,843 |
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 |
| XLT | R119,521 | R107,569 | R101,985 |
| Sport | R130,915 | R117,824 | R111,707 |
| Wildtrak | R154,301 | R138,871 | R131,662 |
| Platinum | R162,850 | R146,565 | R138,956 |
Alternatives
The Ford Everest is categorized as a SUV-D vehicle. This classification stems from its substantial physical size and ability to seat seven passengers, placing it in the large SUV segment. Moreover, the Everest features engine options that are robust, often exceeding 2.0 liters in displacement, aligning with the expectations for vehicles in this segment. Its size and engine capacity play a pivotal role in defining its class identity in the automotive market.
. The table below gives a comparison to other alternatives in the SUV-D segment.| Name | Monthly From | Monthly To | Popularity |
|---|---|---|---|
| Toyota Fortuner | R10,793 | R19,053 | No Data |
| Ford Everest | R15,298 | R24,427 | No Data |
| Hyundai Santa Fe | R15,954 | R21,827 | No Data |
| Kia Sorento | R15,996 | R22,315 | Very Low |
| Toyota Land Cruiser Prado | R20,214 | R26,910 | No Data |
| Hyundai Palisade | R21,390 | R24,021 | No Data |
Stats
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 Ford Everest's price and monthly installment options is crucial for potential buyers to make an informed decision. It is not only about evaluating the vehicle's features but also about ensuring that the purchase aligns with one's financial capabilities and long-term requirements.
Potential buyers are encouraged to conduct thorough research and consider consulting with financial advisors before proceeding with a vehicle acquisition. With a mindful approach towards investing in a car like the Everest, customers can enjoy the benefits of ownership without compromising their economic stability.