Launched at the beginning of 2020 the latest Toyota Corolla Quest is the third addition to the Corolla family which consists of the Corolla hatch and the new Corolla sedan. The Quest however uses a slightly different formula in that it is based on the previous generation Corolla sedan with a few alterations to keep the price low and for the basis for an entry level option into the Toyota sedan range.
The latest, 11th generation model brings with it more in terms of style, quality and value for money as well as a 1.8-litre engine which produces 103kW and 173Nm. The cabin is also well equipped with a host of standard features both in the form of luxury and safety. There a choice of different spec grades such as the standard Quest, the Prestige and the Exclusive. All options are available with either a manual or CVT gearbox.
For the purpose of this article we will work out the repayment cost of both the entry-level Quest and the top of the range model to give you a better idea of the potential costs per month.
The Quest Repayment
The entry level Toyota Quest has a price tag of around R316 600
- Purchase Price: R316 600
- Deposit (or trade-in value): R20 000
- Residual: 0%
- Repayment Period (Months): 72
- Anticipated Interest Rate: 11.75%
Total monthly repayment will equate to around R6 072 with an overall interest of R140 586. If we add a 20% residual into the mix the monthly instalment decreases to around R5 501 however the interest amount rises to R162 812.
The flagship Quest
The 1.8 Quest Exclusive CVT is the flagship in the Quest range and as one would expect, it does carry a slightly higher price than the rest. That said, it does come with a host of features. This particular model carries a price tag of R317 700
- Purchase Price: R391 000
- Deposit (or trade-in value): R20 000
- Residual: 0%
- Repayment Period (Months): 72
- Anticipated Interest Rate: 11.75%
Total monthly repayment will equate to around R7 595 with an overall interest of R175 851. If we add a 20% residual into the mix with the 72 month period the monthly instalment decreases to around R6 890 however the interest amount rises to R203 300.
Note that these numbers and calculations are a brief and basic idea of what you could potentially pay. These numbers including interest rate amounts will vary from person to person. One will also need to take into account various dealership costs added onto the price of the car.
If this appeals to you then browse some of the listings here: Toyota Corolla Quest
