Kia Seltos Monthly Installment
by Leland Morrison, on 17 January 2024
Jump to
- Overview
- Evolution of the Kia Seltos
- Kia Seltos Price
- Kia Seltos Monthly Installment
- Minimum Monthly Salary
- Alternatives
- Stats
- Tips to Secure the Best Monthly Installment
- Conclusion
Overview
The Kia Seltos stands out as a compact SUV with a distinctive and eye-catching exterior styling, highlighted by its bold headlamps and muscular stance. Designed by one of the most awarded design teams globally, and backed by state-of-the-art production technology and world-class quality, it offers an exceptional combination of style and substance. The vehicle comes with standard LED Daytime Running Lights, while the GT Line features full LED headlamps and turn signals.
Inspired by the brave spirit of Seltos, the son of Hercules from Greek mythology, this SUV is designed for both the urban environment and outdoor adventures. With a range of transmission options including manual, automatic, and 7-speed Dual Clutch Transmission (DCT), and various drive modes, the Kia Seltos is adaptive to diverse driving needs. The interior is fashioned for comfort and convenience, complete with steering wheel remote controls and an 8-inch touchscreen infotainment system. Safety features such as airbags, advanced body shell design, and reverse camera underscore Kia's commitment to passenger protection.
Evolution
Since its inception, the Kia Seltos has undergone significant evolution to cater to the demands of the modern driver. Emphasizing safety, technology, and design innovation, the Seltos has continued to adapt and improve. The current model comes with a range of efficient engine options, including a 1.4 T-GDI and various diesel and petrol engines, designed for both power and fuel economy. It also provides various transmission systems, catering to different driving preferences.
The latest iteration of the Seltos embraces technology with features such as a smart entry with push-button start, electric stability control, and a comprehensive infotainment system compatible with Apple CarPlay and Android Auto. With these advancements, the Kia Seltos has solidified its position as a leading vehicle in its class.
Price
The Kia Seltos is available in a range of variants, each with its own set of features and price tag. The base model starts at R465,995, while the top-of-the-line variant is priced at R561,995. The price of a particular variant depends on its engine, transmission, and other features.
| Variant | Price |
|---|---|
| 1.6 EX MT | R465,995 |
| 1.6 EX AT | R483,995 |
| EX Diesel | R495,995 |
| 1.6 EX PLUS | R501,995 |
| EX Diesel AT | R513,995 |
| 1.5 EX Plus Diesel | R531,995 |
| 1.4T DCT GT-Line | R561,995 |
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 Kia Seltos vary between R8,166 and R11,505
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 |
|---|---|---|---|---|
| 1.6 EX MT | R465,995 | R9,540 | R8,586 | R8,166 |
| 1.6 EX AT | R483,995 | R9,908 | R8,918 | R8,481 |
| EX Diesel | R495,995 | R10,154 | R9,139 | R8,692 |
| 1.6 EX PLUS | R501,995 | R10,277 | R9,249 | R8,797 |
| EX Diesel AT | R513,995 | R10,523 | R9,470 | R9,007 |
| 1.5 EX Plus Diesel | R531,995 | R10,891 | R9,802 | R9,322 |
| 1.4T DCT GT-Line | R561,995 | R11,505 | R10,355 | R9,848 |
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 |
| 1.6 EX MT | R63,599 | R57,239 | R54,439 |
| 1.6 EX AT | R66,056 | R59,450 | R56,542 |
| EX Diesel | R67,694 | R60,924 | R57,944 |
| 1.6 EX PLUS | R68,513 | R61,661 | R58,645 |
| EX Diesel AT | R70,150 | R63,135 | R60,047 |
| 1.5 EX Plus Diesel | R72,607 | R65,346 | R62,150 |
| 1.4T DCT GT-Line | R76,701 | R69,031 | R65,654 |
Alternatives
Considering its compact size and engine displacement, the Kia Seltos fits comfortably in the SUV-B segment. Its physical dimensions and offering of practical features align with the expectations for compact sport utility vehicles. The table below gives a comparison to other alternatives in the SUV-B segment.
| Name | Monthly From | Monthly To | Popularity |
|---|---|---|---|
| Hyundai Venue | R5,359 | R10,357 | No Data |
| Haval Jolion | R5,688 | R11,873 | Low |
| Kia Sonet | R6,016 | R9,294 | Low |
| Mazda CX-3 | R6,760 | R11,094 | Low |
| Toyota Corolla Cross | R6,987 | R11,131 | High |
| Omoda C5 | R7,795 | R10,439 | Very Low |
| Hyundai Creta | R8,012 | R10,697 | No Data |
| Kia Seltos | R8,166 | R11,505 | Low |
| Mazda CX-5 | R9,366 | R15,942 | Low |
| Nissan Qashqai | R10,258 | R13,729 | Very Low |
| Ford Puma | R10,293 | R12,568 | No Data |
| Hyundai Tucson | R10,592 | R16,703 | No Data |
| Honda CRV | R11,112 | R17,174 | Very Low |
| VW Tiguan | R11,208 | R17,002 | Medium |
| Citroen C5 Aircross | R11,603 | R14,001 | Very Low |
| Kia Sportage | R11,687 | R16,357 | Low |
| Toyota RAV4 | R12,928 | R17,059 | 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 Kia Seltos's price and the associated monthly installment options is crucial for potential buyers. With various trim levels and specifications available, it's essential to be well-informed to make a decision that aligns with one's budget and lifestyle needs. We encourage prospective buyers to conduct thorough research and consult with financial advisors to understand the financial implications of owning a Kia Seltos, thereby ensuring a purchase that brings both happiness and peace of mind.