Hyundai Venue Monthly Installment
by Leland Morrison, on 5 February 2024
Jump to
- Overview
- Evolution of the Hyundai Venue
- Hyundai Venue Price
- Hyundai Venue Monthly Installment
- Minimum Monthly Salary
- Alternatives
- Stats
- Tips to Secure the Best Monthly Installment
- Conclusion
Overview
The Hyundai Venue is positioned as a trendy and sophisticated sub-compact SUV designed to fulfill the dreams of its customers. It stands out in the market with its unique style, cutting-edge technology, and commendable street credibility. Each model of the Venue is tailored to exude confidence from within, offering a suite of features that ensure both drivers and passengers are immersed in comfort and innovative in-car technology.
Evolution
Over the years, the Hyundai Venue has undergone significant transformations to meet evolving consumer demands. The latest iteration showcases a more polished grille, enhanced light features, and a range of wheel options to cater to different personalities and preferences. The evolution of the Venue is evident in its interior, equipped with artificial leather seating and a high-tech dash, reflecting Hyundai's commitment to innovation and style.
Price
The Hyundai Venue is available in a range of variants, each with its own set of features and price tag. The base model starts at R328,900, while the top-of-the-line variant is priced at R505,900. The price of a particular variant depends on its engine, transmission, and other features.
| Variant | Price |
|---|---|
| 1.2 MPI Motion MT | R328,900 |
| 1.0 TGDI Motion MT | R397,500 |
| 1.0 TGDI Fluid MT | R433,500 |
| 1.0 TGDI Motion DCT | R439,500 |
| 1.0 TGDI Fluid DCT | R477,500 |
| 1.0 TGDI N-Line DCT | R505,900 |
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 Venue vary between R5,763 and R10,357
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 MPI Motion MT | R328,900 | R6,733 | R6,060 | R5,763 |
| 1.0 TGDI Motion MT | R397,500 | R8,138 | R7,324 | R6,966 |
| 1.0 TGDI Fluid MT | R433,500 | R8,875 | R7,987 | R7,596 |
| 1.0 TGDI Motion DCT | R439,500 | R8,997 | R8,098 | R7,702 |
| 1.0 TGDI Fluid DCT | R477,500 | R9,775 | R8,798 | R8,367 |
| 1.0 TGDI N-Line DCT | R505,900 | R10,357 | R9,321 | R8,865 |
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 MPI Motion MT | R44,889 | R40,400 | R38,423 |
| 1.0 TGDI Motion MT | R54,251 | R48,826 | R46,437 |
| 1.0 TGDI Fluid MT | R59,164 | R53,248 | R50,643 |
| 1.0 TGDI Motion DCT | R59,983 | R53,985 | R51,344 |
| 1.0 TGDI Fluid DCT | R65,170 | R58,653 | R55,783 |
| 1.0 TGDI N-Line DCT | R69,046 | R62,141 | R59,101 |
Alternatives
Based on its physical dimensions, such as an overall width of 1,770 mm and length of 3,995 mm, and its engine displacement ranging from 998 to 1197 cc, the Hyundai Venue best fits into the SUV-B segment. It is a sub-compact SUV that offers a unique blend of utility and style suitable for urban driving and occasional adventures.
. The table below gives a comparison to other alternatives in the SUV-B segment.| Name | Monthly From | Monthly To | Popularity |
|---|---|---|---|
| Chery Tiggo 4 Pro | R4,760 | R8,371 | Medium |
| Hyundai Venue | R5,763 | R10,357 | No Data |
| Haval Jolion | R6,092 | R11,873 | Low |
| Kia Sonet | R6,421 | R9,294 | Low |
| Mazda CX-3 | R7,164 | R11,094 | Low |
| Toyota Corolla Cross | R7,391 | R11,131 | High |
| Omoda C5 | R8,200 | R10,439 | Very Low |
| Hyundai Creta | R8,417 | R10,697 | No Data |
| Kia Seltos | R8,570 | R11,505 | 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 Venue price and monthly installment options is crucial for potential buyers considering this vehicle. The Venue's competitive positioning in the SUV-B segment offers a compelling choice for those seeking a small but capable SUV. We encourage buyers to conduct thorough research and consult with financial advisors to ensure an informed decision that aligns with their budget and lifestyle needs.
source: https://www.hyundai.co.za/new-vehicles/showroom/suv/venue