Hyundai Grand i10 Monthly Installment
by Leland Morrison, on 5 February 2024
Jump to
- Overview
- Evolution of the Hyundai Grand i10
- Hyundai Grand i10 Price
- Hyundai Grand i10 Monthly Installment
- Minimum Monthly Salary
- Alternatives
- Stats
- Tips to Secure the Best Monthly Installment
- Conclusion
Overview
The Hyundai Grand i10 is a vibrant and dynamic hatchback designed to bring excitement to the everyday drive. Engineered to deliver a spirited performance, wrapped in a sporty and sleek design, the Grand i10 is an attraction on wheels. The car is not just about looks; it's packed with smart tech features, trendy interiors, and offers a comfortable driving experience. Whether you are navigating city streets or embarking on an adventure, the Grand i10 is said to elevate your journey.
Evolution
From its inception, the Hyundai Grand i10 has undergone various upgrades to enhance its appeal and performance. The Grand i10 boasts various model options including the 1.0 and 1.2 petrol engines, with either a manual or automatic transmission. Over time, the Grand i10 has seen improvements in fuel efficiency and reduced emissions, catering to environmental consciousness. Additionally, safety features like ISOFIX anchor points, driver and passenger airbags have become standard, ensuring that safety is as much a priority as style and performance.
Price
The Hyundai Grand i10 is available in a range of variants, each with its own set of features and price tag. The base model starts at R239,500, while the top-of-the-line variant is priced at R323,900. The price of a particular variant depends on its engine, transmission, and other features.
| Variant | Price |
|---|---|
| Grand i10 1.0 Motion Manual | R239,500 |
| Grand i10 1.0 Fluid Manual | R277,500 |
| Grand i10 1.2 Motion Auto | R282,500 |
| Grand i10 1.2 Fluid Manual | R292,500 |
| Grand i10 1.2 Fluid Auto | R323,900 |
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 Hyundai Grand i10 vary between R4,197 and R6,631
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 |
|---|---|---|---|---|
| Grand i10 1.0 Motion Manual | R239,500 | R4,903 | R4,413 | R4,197 |
| Grand i10 1.0 Fluid Manual | R277,500 | R5,681 | R5,113 | R4,863 |
| Grand i10 1.2 Motion Auto | R282,500 | R5,783 | R5,205 | R4,950 |
| Grand i10 1.2 Fluid Manual | R292,500 | R5,988 | R5,389 | R5,126 |
| Grand i10 1.2 Fluid Auto | R323,900 | R6,631 | R5,968 | R5,676 |
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 |
| Grand i10 1.0 Motion Manual | R32,687 | R29,418 | R27,979 |
| Grand i10 1.0 Fluid Manual | R37,873 | R34,086 | R32,419 |
| Grand i10 1.2 Motion Auto | R38,556 | R34,700 | R33,003 |
| Grand i10 1.2 Fluid Manual | R39,921 | R35,929 | R34,171 |
| Grand i10 1.2 Fluid Auto | R44,206 | R39,786 | R37,839 |
Alternatives
The Hyundai Grand i10 falls under the Segment B as a subcompact car. Its overall dimensions and engine displacement align with typical offerings in this segment, emphasizing efficiency and maneuverability in urban environments. The table below gives a comparison to other alternatives in the B segment.
| Name | Monthly From | Monthly To | Popularity |
|---|---|---|---|
| Hyundai Grand i10 | R4,197 | R6,631 | No Data |
| Toyota Starlet | R4,455 | R6,940 | No Data |
| VW Polo Vivo | R4,604 | R7,102 | No Data |
| Kia Pegas | R5,210 | R6,449 | Very Low |
| Hyundai Grand i10 Sedan | R5,282 | R6,631 | No Data |
| Kia Rio | R6,070 | R7,984 | Low |
| Hyundai i20 | R6,121 | R9,571 | No Data |
| VW Polo | R6,422 | R11,129 | 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 Hyundai Grand i10 price and monthly installment options is crucial for potential buyers. This stylish, safe, and smart hatchback delivers enhanced driving experiences without compromising on comfort. Several choices between engine types and transmissions provide an option suitable for different preferences and needs. It is imperative to conduct thorough research and perhaps consult with financial advisors to make an informed decision that aligns with one's budget and lifestyle requirements when considering the purchase of a vehicle like the Hyundai Grand i10.
source: https://www.hyundai.co.za/new-vehicles/showroom/hatchback/grand%20i10