Hyundai Creta Monthly Installment
by Leland Morrison, on 5 February 2024
Jump to
- Overview
- Evolution of the Hyundai Creta
- Hyundai Creta Price
- Hyundai Creta Monthly Installment
- Minimum Monthly Salary
- Alternatives
- Stats
- Tips to Secure the Best Monthly Installment
- Conclusion
Overview
The Hyundai Creta has established itself as a prominent player in the competitive SUV market. Launched with the intent to light the way in the segment, the 2022 Creta is a confident, safe and feature-packed vehicle that promises to elevate any journey you embark on. Seamless convenience and confident movement are at the heart of the Creta's design, integrating cutting-edge technology with a pleasurable driving experience.
The car boasts an intuitive touch screen Infotainment system that ensures an easy and memorable journey. For those on the go, the convenience of a wireless charger is available to keep devices powered. Prioritizing safety, the Creta comes with a six-airbag system and an advanced Rear Parking Assist system to protect your loved ones and simplify maneuvering.
Evolution
Since its introduction, the Hyundai Creta has undergone significant evolution to align with consumer expectations and technological advancements. Transitioning over the years, it has received various updates that emphasize practicality and safety. Features such as LED lighting on the executive model improve visibility and contribute to an enjoyable driving experience.
The evolution is also evident in its powertrain, offering a choice of an efficient 1.5-liter petrol engine with either a 6-spd Manual, IVT, or Executive IVT transmission. Moreover, the Creta has been developed to provide an optimal balance between performance and economy, as observed in its fuel consumption and CO2 emissions metrics.
Price
The Hyundai Creta is available in a range of variants, each with its own set of features and price tag. The base model starts at R458,500, while the top-of-the-line variant is priced at R522,500. The price of a particular variant depends on its engine, transmission, and other features.
| Variant | Price |
|---|---|
| 1.5 Premium MT | R458,500 |
| 1.5 Premium IVT | R478,900 |
| 1.5 Executive IVT | R522,500 |
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 Hyundai Creta vary between R8,035 and R10,697
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 |
|---|---|---|---|---|
| 1.5 Premium MT | R458,500 | R9,386 | R8,448 | R8,035 |
| 1.5 Premium IVT | R478,900 | R9,804 | R8,824 | R8,392 |
| 1.5 Executive IVT | R522,500 | R10,697 | R9,627 | R9,156 |
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 |
| 1.5 Premium MT | R62,576 | R56,319 | R53,564 |
| 1.5 Premium IVT | R65,361 | R58,825 | R55,947 |
| 1.5 Executive IVT | R71,311 | R64,180 | R61,040 |
Alternatives
The Hyundai Creta fits comfortably into the SUV-B segment considering its physical dimensions and engine size. With an overall length of 4315mm and width of 1790mm, it falls into the compact SUV category. The engine displacement of 1497cc also aligns with what is typical for vehicles within this segment.
. The table below gives a comparison to other alternatives in the SUV-B segment.| Name | Monthly From | Monthly To | Popularity |
|---|---|---|---|
| Hyundai Venue | R5,381 | R10,357 | No Data |
| Haval Jolion | R5,710 | R11,873 | Low |
| Kia Sonet | R6,038 | R9,294 | Low |
| Mazda CX-3 | R6,782 | R11,094 | Low |
| Toyota Corolla Cross | R7,009 | R11,131 | High |
| Omoda C5 | R7,818 | R10,439 | Very Low |
| Hyundai Creta | R8,035 | R10,697 | No Data |
| Kia Seltos | R8,188 | R11,505 | Low |
| Mazda CX-5 | R9,388 | R15,942 | Low |
| Nissan Qashqai | R10,280 | R13,729 | Very Low |
| Ford Puma | R10,315 | R12,568 | No Data |
| Hyundai Tucson | R10,614 | R16,703 | No Data |
| Honda CRV | R11,134 | R17,174 | Very Low |
| VW Tiguan | R11,230 | R17,002 | Medium |
| Citroen C5 Aircross | R11,625 | R14,001 | Very Low |
| Kia Sportage | R11,709 | R16,357 | Low |
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 significance of the Hyundai Creta's price and monthly installment options is crucial for potential buyers. The Creta offers a balance of safety, convenience, and practicality, qualities that appeal to families and individuals alike. When paired with its competitive positioning in the SUV-B segment, it makes for an attractive option for those in the market for a reliable and economical SUV.
Potential buyers are encouraged to conduct thorough research and consult with financial advisors before committing to a purchase. This due diligence ensures a clear understanding of the financial implications, helping to secure a transaction that aligns with one's budget and long-term financial goals.
source: https://www.hyundai.co.za/new-vehicles/showroom/suv/creta