Toyota Corolla Cross Monthly Installment
by Leland Morrison, on 23 November 2023
Jump to
- Overview
- Evolution of the Toyota Corolla Cross
- Toyota Corolla Cross Price
- Toyota Corolla Cross Monthly Installment
- Minimum Monthly Salary
- Alternatives
- Stats
- Tips to Secure the Best Monthly Installment
- Conclusion
Overview
The Toyota Corolla Cross is a relatively recent addition to the illustrious Corolla lineup, which has been highly recognized globally for its reliability and efficiency. This compact crossover SUV combines the comfort and drivability of a sedan with the space and robustness of an SUV, making it an attractive choice for a wide range of drivers. It boasts a modern design, advanced safety features, and the latest in-car technology that aligns with the contemporary needs of automotive consumers.
Evolution
Since its introduction, the Toyota Corolla Cross has been a significant evolution within the Corolla family. Originally known for compact sedans, the Corolla badge has been expanded to include a crossover SUV, which showcases Toyota's versatility and commitment to adapting to market trends. The Corolla Cross bridges the gap between the traditional sedan and the SUV segments, offering a vehicle that provides the best of both worlds to its owners.
With each iteration, the Corolla Cross has seen enhancements in performance, fuel efficiency, and technological integrations, ensuring that it stays competitive in a highly dynamic auto market. The introduction of hybrid variants further emphasizes Toyota's direction towards sustainability and greener driving options, without compromising on power and the driving experience that fans have come to expect from the brand.
Price
The Toyota Corolla Cross is available in a range of variants, each with its own set of features and price tag. The base model starts at R408,400, while the top-of-the-line variant is priced at R543,700. The price of a particular variant depends on its engine, transmission, and other features.
| Variant | Price |
|---|---|
| Corolla Cross 1.8 Xi CVT | R408,400 |
| Corolla Cross 1.8 XS CVT | R443,900 |
| Corolla Cross 1.8 XR CVT | R483,500 |
| Corolla Cross 1.8 XS HEV | R486,100 |
| Corolla Cross 1.8 CVT GR-S | R500,200 |
| Corolla Cross 1.8 XR HEV | R527,200 |
| Corolla Cross 1.8 HEV GR-S | R543,700 |
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 Toyota Corolla Cross vary between R7,157 and R11,131
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 |
|---|---|---|---|---|
| Corolla Cross 1.8 Xi CVT | R408,400 | R8,361 | R7,525 | R7,157 |
| Corolla Cross 1.8 XS CVT | R443,900 | R9,088 | R8,179 | R7,779 |
| Corolla Cross 1.8 XR CVT | R483,500 | R9,898 | R8,908 | R8,473 |
| Corolla Cross 1.8 XS HEV | R486,100 | R9,951 | R8,956 | R8,518 |
| Corolla Cross 1.8 CVT GR-S | R500,200 | R10,240 | R9,216 | R8,765 |
| Corolla Cross 1.8 XR HEV | R527,200 | R10,793 | R9,714 | R9,238 |
| Corolla Cross 1.8 HEV GR-S | R543,700 | R11,131 | R10,018 | R9,528 |
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 |
| Corolla Cross 1.8 Xi CVT | R55,739 | R50,165 | R47,711 |
| Corolla Cross 1.8 XS CVT | R60,584 | R54,525 | R51,858 |
| Corolla Cross 1.8 XR CVT | R65,988 | R59,390 | R56,484 |
| Corolla Cross 1.8 XS HEV | R66,343 | R59,709 | R56,788 |
| Corolla Cross 1.8 CVT GR-S | R68,268 | R61,441 | R58,435 |
| Corolla Cross 1.8 XR HEV | R71,953 | R64,757 | R61,589 |
| Corolla Cross 1.8 HEV GR-S | R74,205 | R66,784 | R63,517 |
Alternatives
The Toyota Corolla Cross is a compact crossover SUV, which positions it in the SUV-B category. The table below gives a comparison to other alternatives in the SUV-B segment.
| Name | Monthly From | Monthly To | Popularity |
|---|---|---|---|
| Chery Tiggo 4 Pro | R4,526 | R8,371 | Medium |
| Hyundai Venue | R5,529 | R10,357 | No Data |
| Haval Jolion | R5,858 | R11,873 | Low |
| Kia Sonet | R6,186 | R9,294 | Low |
| Mazda CX-3 | R6,929 | R11,094 | Low |
| Toyota Corolla Cross | R7,157 | R11,131 | High |
| Omoda C5 | R7,965 | R10,439 | Very Low |
| Hyundai Creta | R8,182 | R10,697 | No Data |
| Kia Seltos | R8,336 | R11,505 | Low |
| Mazda CX-5 | R9,535 | R15,942 | Low |
| Nissan Qashqai | R10,428 | R13,729 | Very Low |
| Ford Puma | R10,463 | R12,568 | No Data |
| Hyundai Tucson | R10,762 | R16,703 | No Data |
| Honda CRV | R11,282 | R17,174 | Very Low |
Stats
Current popularity for the Toyota Corolla Cross is High with around 97 440 searches per month.
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 importance of being well-informed about the Toyota Corolla Cross price and the various monthly installment options is crucial for potential buyers. Being a major financial decision, prospective owners should consider the long-term implications of purchasing a vehicle like the Corolla Cross.
It is essential for buyers to conduct thorough research on prices, financing options, and the overall cost of ownership. Consulting with financial advisors and comparing different loan plans can ensure that the decision to purchase fits within an individual's budget and financial goals. By doing so, potential buyers can enjoy the myriad benefits of owning a reliable and stylish Toyota Corolla Cross, with the peace of mind that comes from making a well-considered investment.