Rent-to-Own What is the finance plan to rent to own a car?

 

For most South Africans, easy travelling on a day-to-day basis is almost impossible without a car as our beautiful country is unfortunately not equipped with the most reliable public transport methods. When faced with this ever-shifting reliability, as well as the high financial standards required for clearance for car financing, it’s clear why the rent to own process is growing in popularity with consumers. At Car Finance, we offer safe, trusted and transparent rent to own car financing, helping our clients get behind the wheel of their dream car and on the road as soon as possible.

The finance plan to rent to own a car is quite simple and straightforward compared to the often over-complicated and drawn out process of traditional car financing. In short, the finance plan usually involves putting down a R3500 finder's fee - which includes registration and administration costs - and then making fixed payments monthly. Please note that roadside assistance and vehicle tracking will be included in your monthly payments.

With rent to own, you will be offered a customisable payment plan over a period of 60 months or less, after which you will have the option of buying your “rented” vehicle by paying one final additional instalment, the amount of which will be disclosed to you before you sign any agreements. Please be advised that although there are no credit checks, it is up to you to ensure that you can successfully maintain the monthly payments. Any short or missed payments can result in the vehicle being repossessed and you losing any monies paid up to that point.

A benefit of renting to own is that if you are unable or unwilling to continue with the payments, you can arrange to stop paying without the risk of damaging your credit score and simply return the vehicle to us. No muss no fuss.

At Car Finance, we understand the financial pressure that comes with everyday life and are willing to assist all interested clients - even those with a poor credit rating or a blacklisted status; we don’t discriminate and will gladly create a finance plan that you can afford and that will allow you to eventually own your own vehicle.