Hyundai i20 Monthly Installment
by Leland Morrison, on 5 February 2024
Jump to
- Overview
- Evolution of the Hyundai i20
- Hyundai i20 Price
- Hyundai i20 Monthly Installment
- Minimum Monthly Salary
- Alternatives
- Stats
- Tips to Secure the Best Monthly Installment
- Conclusion
Overview
Embrace the elegance and dynamism of the Hyundai i20, a vehicle that marries contemporary aesthetics with robust performance. With its style upgrade that includes new halogen headlights, daytime running lights, and a glossy black grill, the Hyundai i20 asserts its presence on the road. 16” alloy wheels and a two-tone paint job elevates its sporty appeal.
Inside, drivers are treated to a luxurious environment featuring upgraded leather steering wheels and gear knobs, alongside artificial leather seats. Specific models boast a 3.5” supervision cluster screen, adding to the i20's high-tech credentials.
Evolution
The Hyundai i20's evolution is marked by a relentless pursuit of innovation and driver satisfaction. From the start, it was designed as a vehicle that caters to the needs of the modern driver, focusing on performance, safety, and comfort. The latest model not only brings a fresh, new design but also improved convenience features such as remote keyless entry, central locking, rear parking sensors, and a camera for simplified maneuverability.
The 6 airbag-system and ISOFIX attachments ensure the safety of all occupants, while infotainment systems compatible with Apple CarPlay and Android Auto provide seamless connectivity.
Price
The Hyundai i20 is available in a range of variants, each with its own set of features and price tag. The base model starts at R333,500, while the top-of-the-line variant is priced at R467,500. The price of a particular variant depends on its engine, transmission, and other features.
| Variant | Price |
|---|---|
| 1.2 Motion MT | R333,500 |
| 1.2 Fluid MT | R348,900 |
| 1.2 Fluid MT Two-Tone | R353,900 |
| 1.4 Motion AT | R366,900 |
| 1.0 TGDI Fluid MT | R396,500 |
| 1.0 TGDI Fluid MT Two Tone | R402,500 |
| 1.0 TGDI Fluid DCT | R424,500 |
| 1.0 TGDI Fluid DCT Two Tone | R429,500 |
| 1.0 TGDI N-LINE DCT | R467,500 |
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 i20 vary between R5,844 and R9,571
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 |
|---|---|---|---|---|
| 1.2 Motion MT | R333,500 | R6,827 | R6,145 | R5,844 |
| 1.2 Fluid MT | R348,900 | R7,143 | R6,428 | R6,114 |
| 1.2 Fluid MT Two-Tone | R353,900 | R7,245 | R6,521 | R6,202 |
| 1.4 Motion AT | R366,900 | R7,511 | R6,760 | R6,429 |
| 1.0 TGDI Fluid MT | R396,500 | R8,117 | R7,305 | R6,948 |
| 1.0 TGDI Fluid MT Two Tone | R402,500 | R8,240 | R7,416 | R7,053 |
| 1.0 TGDI Fluid DCT | R424,500 | R8,690 | R7,821 | R7,439 |
| 1.0 TGDI Fluid DCT Two Tone | R429,500 | R8,793 | R7,913 | R7,526 |
| 1.0 TGDI N-LINE DCT | R467,500 | R9,571 | R8,614 | R8,192 |
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 |
| 1.2 Motion MT | R45,516 | R40,965 | R38,961 |
| 1.2 Fluid MT | R47,618 | R42,856 | R40,760 |
| 1.2 Fluid MT Two-Tone | R48,301 | R43,470 | R41,344 |
| 1.4 Motion AT | R50,075 | R45,067 | R42,863 |
| 1.0 TGDI Fluid MT | R54,115 | R48,703 | R46,321 |
| 1.0 TGDI Fluid MT Two Tone | R54,933 | R49,440 | R47,021 |
| 1.0 TGDI Fluid DCT | R57,936 | R52,142 | R49,592 |
| 1.0 TGDI Fluid DCT Two Tone | R58,618 | R52,757 | R50,176 |
| 1.0 TGDI N-LINE DCT | R63,805 | R57,424 | R54,615 |
Alternatives
The Hyundai i20 is best classified in Segment B, which comprises subcompact cars. Its dimensions and engine displacement ranging between 1.0 to 1.4 litres, solidify its position in this category. Additionally, the Hyundai i20 is primarily recognized for its practicality and affordability rather than luxury offerings. The table below gives a comparison to other alternatives in the B segment.
| Name | Monthly From | Monthly To | Popularity |
|---|---|---|---|
| Hyundai Grand i10 | R3,920 | R6,631 | No Data |
| Toyota Starlet | R4,178 | R6,940 | No Data |
| VW Polo Vivo | R4,327 | R7,102 | No Data |
| Kia Pegas | R4,933 | R6,449 | Very Low |
| Hyundai Grand i10 Sedan | R5,005 | R6,631 | No Data |
| Kia Rio | R5,793 | R7,984 | Low |
| Hyundai i20 | R5,844 | R9,571 | No Data |
| VW Polo | R6,145 | R11,129 | No Data |
| Audi A1 | R8,993 | R12,173 | 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 Hyundai i20 price and the associated monthly installment options is crucial for any potential buyer. The i20's price range is reflective of its substantial offerings, from safety features to aesthetic enhancements, foregrounding its value proposition in the subcompact car market.
Prospective owners are encouraged to conduct thorough research and engage with financial advisors to ensure that their investment not only suits their budget but also aligns with their lifestyle needs. The Hyundai i20 stands as a testament to Hyundai’s capability to create vehicles that resonate with consumers' evolving demands.
source: https://www.hyundai.co.za/new-vehicles/showroom/hatchback/i20