Hyundai Palisade Monthly Installment
by Leland Morrison, on 5 February 2024
Jump to
- Overview
- Evolution of the Hyundai Palisade
- Hyundai Palisade Price
- Hyundai Palisade Monthly Installment
- Minimum Monthly Salary
- Alternatives
- Stats
- Tips to Secure the Best Monthly Installment
- Conclusion
Overview
The Hyundai Palisade is the embodiment of luxury, comfort, and advanced technology, all packaged within a sophisticated and spacious SUV design. Available in 7- or 8-seat configurations, it caters to a diverse range of consumer needs, offering plentiful room and a host of amenities.
The Palisade’s exterior boasts a striking black chrome radiator grille, elegantly paired with 20” alloy wheels and dual sunroofs, making it a head-turner on the road. Inside, full leather seats and innovative features like a leather multifunction steering wheel, 12.3” LCD supervision cluster, and Infinity surround sound system demonstrate Hyundai’s commitment to a first-class travel experience.
Evolution
The evolution of the Hyundai Palisade signifies a step forward in Hyundai's commitment to superior craftsmanship and innovation. With every new edition, the Palisade has refined its features to offer a more luxurious ride, enhanced safety, and broader customization options to meet the elevated expectations of modern drivers.
A continuous development in infotainment with Apple CarPlay & Android Auto, passenger comfort with heated and ventilated seats, and safety with Hyundai Smart Sense, ensures that the Palisade remains a competitive force in the bustling SUV market.
Price
The Hyundai Palisade is available in a range of variants, each with its own set of features and price tag. The base model starts at R1,204,500, while the top-of-the-line variant is priced at R1,204,500. The price of a particular variant depends on its engine, transmission, and other features.
| Variant | Price |
|---|---|
| R2.2 Elite 7 Seater 8AT AWD | R1,204,500 |
| R2.2 Elite 8 Seater 8AT AWD | R1,204,500 |
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 Palisade vary between R21,107 and R24,659
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 |
|---|---|---|---|---|
| R2.2 Elite 7 Seater 8AT AWD | R1,204,500 | R24,659 | R22,193 | R21,107 |
| R2.2 Elite 8 Seater 8AT AWD | R1,204,500 | R24,659 | R22,193 | R21,107 |
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 |
| R2.2 Elite 7 Seater 8AT AWD | R164,391 | R147,952 | R140,714 |
| R2.2 Elite 8 Seater 8AT AWD | R164,391 | R147,952 | R140,714 |
Alternatives
With its 4,980 mm overall length, 1,975 mm width, and 2.2L diesel engine, the Hyundai Palisade firmly sits in the mid-large size SUV-D segment, providing ample space and engine capacity indicative of a vehicle designed for both performance and luxury transport. The table below gives a comparison to other alternatives in the SUV-D segment.
| Name | Monthly From | Monthly To | Popularity |
|---|---|---|---|
| Ford Everest | R14,853 | R25,076 | No Data |
| Hyundai Santa Fe | R15,526 | R22,407 | No Data |
| Kia Sorento | R15,569 | R22,908 | Very Low |
| Toyota Land Cruiser Prado | R19,899 | R27,625 | No Data |
| Hyundai Palisade | R21,107 | R24,659 | 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 Palisade's price and monthly installment options is crucial for those considering this luxury SUV. The vehicle's upfront cost and long-term expenses can vary, dependent on the chosen model, features, and financing terms.
Potential buyers should engage in thorough research, examining detailed specifications and seeking the advice of financial advisors before making this significant investment. A well-informed decision ensures a purchase that aligns with personal budgets and lifestyle requirements while allowing them to enjoy the Palisade's remarkable attributes.
source: https://www.hyundai.co.za/new-vehicles/showroom/suv/palisade