Toyota Hilux Monthly Instalment Examples
The Hilux range runs from workhorse single cabs to top-of-range double cabs, and used ones cover a wide span too. So instead of one figure, here are three example prices. They are examples, not Toyota's prices and not quotes. For current new prices, see Toyota South Africa or a dealer.
- Deposit
- 10% of the price
- Term
- 72 months
- Example rate
- 11.75% a year
- Balloon
- None, or 30% of the price
| Example price | Amount financed | No balloon | 30% balloon |
|---|---|---|---|
| R400,000 | R360,000 | R6,991 a month | R5,836 a month, then R120,000 |
| R650,000 | R585,000 | R11,361 a month | R9,483 a month, then R195,000 |
| R900,000 | R810,000 | R15,731 a month | R13,131 a month, then R270,000 |
The example rate is prime (10.75%) plus one point, for illustration. Your rate comes from the bank and depends on your profile. Bank fees and insurance are not included. Check any row in the car finance calculator: enter the price, a 10% deposit and the balloon.
What a Balloon Payment Does to a Hilux Instalment
A balloon leaves part of the price to the end of the term, so the monthly instalment drops. You still owe that amount, and you pay interest on it every month.
| R650,000 example | No balloon | 30% balloon |
|---|---|---|
| Monthly instalment | R11,361 | R9,483 |
| Lump sum at the end | None | R195,000 |
| Total repaid, balloon included | R817,989 | R877,801 |
The balloon saves R1,878 a month but costs R59,812 more over the term. It makes sense if you plan to trade the bakkie in before the end, or can settle or refinance the lump sum when it falls due. The balloon payment guide covers your options at the end.
How the Term and Deposit Change the Instalment
On the same R650,000 example with no balloon, a shorter term costs more each month but less in total. A bigger deposit lowers both.
| Term | Deposit | Monthly instalment |
|---|---|---|
| 48 months | 10% | R15,334 |
| 60 months | 10% | R12,939 |
| 72 months | 10% | R11,361 |
| 72 months | None | R12,623 |
| 72 months | 20% | R10,099 |
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Business or Personal: Whose Name Should the Hilux Be In?
Many Hiluxes work for a living. Before you apply, decide whether the bakkie is for you or for the business, because it changes whose income the bank reads and how tax works.
- Personal finance. The Hilux is in your name and the bank reads your income. If you are self-employed, that means your business bank statements and financial statements. See car finance for the self-employed.
- Business finance. A company or close corporation can finance the Hilux in its own name, on the business's income. Fleets usually have each vehicle on its own agreement. See bakkie and business finance.
Double cab or single cab: the VAT question
Insurance and Running Costs to Budget For
The instalment is only part of what a Hilux costs each month. Before you settle on a price, add:
- Comprehensive insurance, which the bank requires for as long as the finance runs
- A tracking device, if your insurer asks for one
- Fuel, at the distance you really drive
- Tyres and services once any service plan ends, especially on a used bakkie
- The yearly licence disc
- Saving towards the balloon, if you take one
Get an insurance quote on the exact model before you sign. It can change which Hilux you can comfortably afford.
Applying for Toyota Hilux Finance With Carfin
Start with the quick check. It takes about 2 minutes and is a soft check, so it does not affect your credit score. It tells you where you stand. It does not give you an amount.
Once you have found your Hilux, new or used, from a dealer or a private seller, the full application takes about 7 minutes. Carfin sends it to the top banks at the same time with one credit enquiry, a consultant negotiates the offers, and you choose. Salaried applicants send their latest payslips, 3 months of bank statements, ID and proof of address. Self-employed applicants send 6 months of business bank statements and their latest annual financial statements or an accountant's letter.
