Hyundai Grand i10 Sedan Monthly Installment
by Leland Morrison, on 5 February 2024
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- Overview
- Evolution of the Hyundai Grand i10 Sedan
- Hyundai Grand i10 Sedan Price
- Hyundai Grand i10 Sedan Monthly Installment
- Minimum Monthly Salary
- Alternatives
- Stats
- Tips to Secure the Best Monthly Installment
- Conclusion
Overview
The Hyundai Grand i10 Sedan offers a compelling blend of style, convenience, and comfort. Touted for its modern design and smooth ride, this vehicle also provides additional space, making it ideal for those who value safety and want to transport their valuable belongings securely.
Highlighting the vehicle’s exterior features, the Grand i10 Sedan boasts a black radiator grille and 15-inch alloy wheels, complemented by halogen headlamps and LED daytime running lights that enhance its visually striking presence on the road.
Evolution
The Hyundai Grand i10 Sedan has evolved to meet the needs of modern drivers by incorporating a range of innovative features. Inside, the car is adorned with an interior mood lamp, an artificial leather multifunction steering wheel, and a unique combination of cloth & vinyl seats with red trim, providing a bespoke and comfortable environment.
The evolution continues with practical elements like electric folding side mirrors, cruise control, and USB charging ports. Safety is also a priority as the vehicle comes standard with features like driver and passenger airbags and ISOFIX mounts, ensuring peace of mind on every journey.
Price
The Hyundai Grand i10 Sedan is available in a range of variants, each with its own set of features and price tag. The base model starts at R292,500, 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 Sedan 1.2 Fluid Manual | R292,500 |
| Grand i10 Sedan 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 Sedan vary between R5,126 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 Sedan 1.2 Fluid Manual | R292,500 | R5,988 | R5,389 | R5,126 |
| Grand i10 Sedan 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 Sedan 1.2 Fluid Manual | R39,921 | R35,929 | R34,171 |
| Grand i10 Sedan 1.2 Fluid Auto | R44,206 | R39,786 | R37,839 |
Alternatives
The Hyundai Grand i10 Sedan fits into the 'B' segment as it is a small-sized sedan with a compact body, falling into the category of subcompact cars. With a 1.2-litre petrol engine and overall dimensions that are characteristic of this segment, it aligns with the typical size and engine specifications for segment B vehicles. The table below gives a comparison to other alternatives in the B segment.
| Name | Monthly From | Monthly To | Popularity |
|---|---|---|---|
| Hyundai Grand i10 | R4,041 | R6,631 | No Data |
| Toyota Starlet | R4,299 | R6,940 | No Data |
| VW Polo Vivo | R4,448 | R7,102 | No Data |
| Kia Pegas | R5,054 | R6,449 | Very Low |
| Hyundai Grand i10 Sedan | R5,126 | R6,631 | No Data |
| Kia Rio | R5,914 | R7,984 | Low |
| Hyundai i20 | R5,965 | R9,571 | No Data |
| VW Polo | R6,266 | 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 Sedan's price and the available monthly installment options is crucial for potential buyers. This knowledge can significantly influence the decision-making process, ensuring that the choice aligns with personal budgeting and lifestyle requirements.
It's advisable for buyers to thoroughly research and consider all aspects of the purchase. Consulting with financial advisors can provide additional insights into the implications of such an investment. Remember, a car is not just a mode of transport; it's a commitment that should be aligned with one’s financial stability and goals.
source: https://www.hyundai.co.za/new-vehicles/showroom/sedan/grand%20i10%20sedan