Is your monthly income enough to own the 2021 Toyota Corolla Cross?
Arif · Apr 3, 2021 09:30 AM
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The Toyota Corolla Cross is the all-new SUV rivalling the likes of the Honda HR-V, Subaru XV, Mazda CX-30, and even the Proton X70.
The Corolla Cross comes in two variants, the Corolla Cross 1.8 G and the Corolla Cross 1.8 V. The former starts at a price of RM 124,000 and the latter at RM 134,000.
How much money to put aside for a Toyota Corolla Cross?
This depends on what variant you opt for and how the parameters of the financing service (amount, tenure, and interest).
To keep things simple, we’re going for a 2.27% p.a. interest rate and a 10% down payment for the loan calculation.
The least amount of money (per month) you need to put aside for a Toyota Corolla Cross would be RM 1,312.33. But this is for the lower "G" spec Corolla Cross under a 9-year loan tenure.
Applying the general rule of car loans not exceeding 20% of your monthly salary, the minimum monthly income to own a Corolla Cross is RM 6,561.65.
At its highest monthly rate, a top "V" variant would cost you RM 2,311.50 per month over a 5-year loan tenure, naturally requiring a higher income.
5-year monthly installment
Variant
Price (RM)
Monthly payment (RM)
1.8 G
124,000
2,139.00
1.8 V
134,000
2,311.50
7-year monthly installment
Variant
Price (RM)
Monthly payment (RM)
1.8 G
124,000
1,607.57
1.8 V
134,000
1,737.21
9-year monthly installment
Variant
Price (RM)
Monthly payment (RM)
1.8 G
124,000
1,312.33
1.8 V
134,000
1,418.17
How does the Corolla Cross' payments compare to its rivals'?
Let's have a look at how the range topping variants of each model compare against one another.
Price-wise, the Toyota Corolla Cross is very close to the Subaru XV with only single digit differences in terms of monthly payment. Fortunately for the Corolla Cross, the XV isn't exactly a popular car in Malaysia, so there's not much of a tussle going on between both cars.
The Subaru XV is the ultimate choice if you want an AWD car, but the Corolla Cross offers more practicality, offering about 100 L of boot space more than the XV.
Most appealing in terms of price and monthly payment is the Honda HR-V RS.
However, keep in mind that the Honda HR-V is an ageing model with minor updates while the Corolla Cross in an all-new car.
The Corolla Cross' monthly payment is about RM 300 more than the Honda HR-V, but you're also getting an all-new model with the latest technologies thrown into its development.
The Mazda CX-30, even in just the 2WD High variant, deviates a little too far from the Corolla Cross' price range. There's an approximate RM 400 gap in monthly payments, which is is a large difference compared to other rivals of the Corolla Cross.
Conclusion
Entering the Malaysian market, the Toyota Corolla Cross challenges SUVs from both the B and C segment. The base spec Corolla Cross even challenges popular affordable SUVs like the Proton X70, offering Toyota reliability on top of it.
While the Toyota RAV4 and CH-R didn't quite resonate with the Malaysian market, the Corolla Cross has proven to be a hit from Toyota with all CBU units sold out for the time being.
Previously an engineer in an automotive manufacturing company and a highway concessionaire. A part-time research student on biofuels and diesel engines. Obsessed with vehicle electrification and the future of transportation.