Ford Ranger Monthly Installment
by Leland Morrison, on 23 January 2024
Jump to
- Overview
- Evolution of the Ford Ranger
- Ford Ranger Price
- Ford Ranger Monthly Installment
- Minimum Monthly Salary
- Alternatives
- Stats
- Tips to Secure the Best Monthly Installment
- Conclusion
Overview
The Ford Ranger is a mid-size bakkie that has consistently been praised for its durability, versatility, and performance. First introduced in the early 1980s, the Ranger has served as a dependable workhorse for individuals and companies alike. Over time, it evolved to include more advanced technology, improved safety features, and more comfortable interior amenities, standing as a testament to Ford's commitment to innovation and customer satisfaction in the pickup truck market.
Complementing its sturdy build is a design aimed to provide both functionality and aesthetic appeal, making the Ranger suitable for a range of activities from tough job sites to everyday urban use. The newer models offer a variety of engine choices, including efficient four-cylinder engines and more powerful V6 options, catering to the diverse needs of pickup truck enthusiasts.
Evolution
The evolution of the Ford Ranger, spanning several decades, comprises numerous redesigns and updates that reflect changing consumer preferences and technological advancements. The Ranger's journey began as a compact pickup, growing over time to become the larger, more capable vehicle it is today. Significant milestones include the introduction of a four-door version, the integration of potent powertrains, and the application of advanced safety and infotainment systems.
Price
The Ford Ranger is available in a range of variants, each with its own set of features and price tag. The base model starts at R494,400, while the top-of-the-line variant is priced at R1,184,100. The price of a particular variant depends on its engine, transmission, and other features.
| Variant | Price |
|---|---|
| XL 2.0 Turbo Diesel Hi-Rider Single Cab | R494,400 |
| 2.0 Turbo Diesel Hi-Rider Double Cab | R510,700 |
| XLT 2.0 Turbo Diesel or Bi-Turbo Diesel Hi-Rider Double Cab | R632,000 |
| Wildtrak 2.0 Bi-Turbo Diesel Hi-Rider Double Cab | R925,000 |
| Wildtrak X 2.0L Bi-Turbo Diesel | R1,013,000 |
| Raptor 3.0L V6 Twin-Turbo EcoBoost 10AT AWD | R1,184,100 |
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 Ranger vary between R8,413 and R23,614
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 |
|---|---|---|---|---|
| XL 2.0 Turbo Diesel Hi-Rider Single Cab | R494,400 | R9,860 | R8,874 | R8,413 |
| 2.0 Turbo Diesel Hi-Rider Double Cab | R510,700 | R10,185 | R9,166 | R8,690 |
| XLT 2.0 Turbo Diesel or Bi-Turbo Diesel Hi-Rider Double Cab | R632,000 | R12,604 | R11,343 | R10,754 |
| Wildtrak 2.0 Bi-Turbo Diesel Hi-Rider Double Cab | R925,000 | R18,447 | R16,602 | R15,740 |
| Wildtrak X 2.0L Bi-Turbo Diesel | R1,013,000 | R20,202 | R18,181 | R17,238 |
| Raptor 3.0L V6 Twin-Turbo EcoBoost 10AT AWD | R1,184,100 | R23,614 | R21,252 | R20,149 |
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 |
| XL 2.0 Turbo Diesel Hi-Rider Single Cab | R65,730 | R59,157 | R56,086 |
| 2.0 Turbo Diesel Hi-Rider Double Cab | R67,897 | R61,108 | R57,935 |
| XLT 2.0 Turbo Diesel or Bi-Turbo Diesel Hi-Rider Double Cab | R84,024 | R75,622 | R71,696 |
| Wildtrak 2.0 Bi-Turbo Diesel Hi-Rider Double Cab | R122,978 | R110,680 | R104,935 |
| Wildtrak X 2.0L Bi-Turbo Diesel | R134,678 | R121,210 | R114,918 |
| Raptor 3.0L V6 Twin-Turbo EcoBoost 10AT AWD | R157,425 | R141,683 | R134,328 |
Alternatives
The Ford Ranger firmly fits into the Bakkie segment, primarily based on its physical configuration as a pickup truck with a separate cabin and rear cargo area. Taking into account the vehicle's dimensions, it offers the substantial payload capability and towing capacity expected from its class. Additionally, engine size options, ranging from the efficient EcoBoost to the larger displacement engines, cater to various power demands while aligning with the Bakkie segment's characteristics of utility and performance.
. The table below gives a comparison to other alternatives in the Bakkie segment.| Name | Monthly From | Monthly To | Popularity |
|---|---|---|---|
| Ford Ranger | R8,413 | R23,614 | No Data |
| Toyota Hilux Double Cab | R8,997 | R20,042 | Very High |
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 pricing nuances and monthly installment options for the Ford Ranger is crucial for potential buyers. The cost of ownership can significantly impact one's financial standing, making it essential to be well-informed about the terms of purchase and any associated expenses. The significance of such financial prudence is heightened by the wide range of features and configurations available in Ranger models, which can affect the final price point.
Therefore, it is recommended that buyers meticulously research the Ford Ranger's options and engage with financial advisors to ensure they are selecting a vehicle that aligns with their budget and lifestyle needs. A comprehensive understanding of these elements can result in a rewarding ownership experience both personally and financially.