Earn-a-Car https://www.earnacar.co.za Rent to own a pre-owned car Mon, 13 May 2019 05:47:46 +0000 en-US hourly 1 https://wordpress.org/?v=5.1.1 Uber is Thriving in SA – Rent-to-Own and Become your own Boss https://www.earnacar.co.za/uber-is-thriving-in-sa-rent-to-own-and-become-your-own-boss/ Mon, 13 May 2019 05:47:46 +0000 https://www.earnacar.co.za/?p=67586 Uber South Africa launched in 2013, with Johannesburg, Cape Town and Durban leading the way in registered Uber drivers. Over 1 million safe trips were clocked in 2014, over 2 million by June 2015 and in 2017, Engineering News reported that the longest Uber trip on record in sub-Saharan Africa occured in South Africa – [...]

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Uber South Africa launched in 2013, with Johannesburg, Cape Town and Durban leading the way in registered Uber drivers. Over 1 million safe trips were clocked in 2014, over 2 million by June 2015 and in 2017, Engineering News reported that the longest Uber trip on record in sub-Saharan Africa occured in South Africa – 3 190 km from Cape Town to Durban.

In the current tough economic climate we are currently experiencing, an increasing number of people are think of new ways to earn additional income. One of the options is becoming Uber drivers. The company reported that it had created more than 29 000 economic opportunities, that there were more than 12 000 active Uber drivers in South Africa alone and 969 000 active riders. If you are looking for a way to earn extra income or to become your own boss, then becoming an Uber driver is an option.

The first thing you will need to decide is whether you want to buy a car or opt for a rent-to-buy vehicle finance plan, such as those offered by Earn-a-Car. Some of the pros and cons of the rent-to-buy option are:

  • Flexibility:

If you are not sure as to whether you want to commit to Uber, then a rent-to-buy car is ideal because you can simply give the car back if things do not work out. You also won’t have the additional time-consuming task of having to resell the car, most likely at a lower price and making a loss.

  • Less Wear-and-Tear on your Car:

If you already have a car but don’t want to use it for Uber driving, then the rent-to-buy option ensures that you aren’t adding more kilometres to the clock on your own car. You can transport passengers with a high quality, pre-owned car from Earn-a-Car, thereby ensuring that your own car is not exposed to potential damages, spills, mechanical and tyre wear-and-tear.

  • Limit Debt:

With rent-to-own vehicle financing, you won’t have to take out another line of debt. This is especially helpful for people who need car finance but who have a bad credit record or are under debt review.

Are you ready to become an Uber driver? Then get a rent-to-own car from Earn-a-Car today.

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How is Rent-to-Buy Different from Car Loans? https://www.earnacar.co.za/how-is-rent-to-buy-different-from-car-loans/ Mon, 06 May 2019 06:40:57 +0000 https://www.earnacar.co.za/?p=67583 When researching vehicle finance options, you will find a variety of funding mechanisms and financing options that are available to you. A rent-to-buy car finance option is often misunderstood, which is why car sales representatives don’t always tell you about it. In the past, a leased car or rent-to-buy car finance plan was not considered [...]

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When researching vehicle finance options, you will find a variety of funding mechanisms and financing options that are available to you. A rent-to-buy car finance option is often misunderstood, which is why car sales representatives don’t always tell you about it.

In the past, a leased car or rent-to-buy car finance plan was not considered to be a viable option. Instead, obtaining a loan for a car from a bank, even with high interest rates that could escalate in future, was considered to be the best finance option. However, more recently people now better understand the benefits received with rent-to-own vehicle financing, especially with pre-owned cars where the rate of depreciation is far less when compared to a buying a new car.

When opting to obtain a loan from a bank, the bank rightfully owns the car and you are repaying the amount to the bank in monthly instalments. If you include the cost of the interest that it charged on the loan, the price tag of the car will increase substantially by the time that you have paid it off. And, until you make the final payment, the bank owns the car.

The repayment term to a bank for a car loan is usually between 60 to 72 months, and can be extended to more than 80 months for premium vehicles.  In some instances people trade their car in for the latest model after 46 months and often owe more on the car than what it is actually worth because of the cost of the interest on the loan. The negative equity, which is the financial balance of the car that is owed when the trade-in takes place, is included in the cost of the new purchase.

With rent-to-own vehicle financing, you rent the vehicle until it is paid off. You won’t be taking out a new line of debt and you won’t be incurring negative equity or interest during the contract period. For more information on rent-to-buy cars, contact Earn-a-Car today.

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Why Rent-to-Own Car Financing is Popular in SA https://www.earnacar.co.za/why-rent-to-own-car-financing-is-popular-in-sa/ Thu, 02 May 2019 06:33:57 +0000 https://www.earnacar.co.za/?p=67581 Rent-to-own car financing has become increasingly popular in South Africa for good reason. A tough economic climate, combined with credit-wary consumers, means that South Africans are looking at alternative ways to finance their cars and to avoid debt. A brand-new car loses a great deal of value as soon as it is driven off the [...]

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Rent-to-own car financing has become increasingly popular in South Africa for good reason. A tough economic climate, combined with credit-wary consumers, means that South Africans are looking at alternative ways to finance their cars and to avoid debt.

A brand-new car loses a great deal of value as soon as it is driven off the showroom floor. Some cars depreciate by as much as 20% within the first year and when financing a pre-owned vehicle, the loan is subjected to high interest rates that could increase in the future. This means that you are paying off even more interest than paying for the vehicle.

Buying a car can easily evolve into a continuous debt cycle. While many car repayment terms range from 60 to 72 months, car owners often trade their cars in after 46 months. This leads to negative equity because the first car has not yet been paid off.

A more financially sound way to buy a car is through a rent-to-own vehicle financing company such as Earn-a-Car. Your monthly car repayment will most likely be lower than the monthly instalment owed to a bank, especially if you have a low credit score. Earn-a-Car does not consider your credit history when approving your application for a rent-to-buy car.

With Earn-a-Car, you get:

  • A fixed rental payment,
  • No hidden costs,
  • The possibility to terminate the rental agreement with a one month notice,
  • A part of the monthly rental is cash, which may be paid back to you to spend as you like, if your account is up to date,
  • An amount of your monthly rental is kept aside to assist you to service and maintain your vehicle,
  • Accident cover,
  • Vehicle Tracking,
  • Comprehensive vehicle warranty cover to give you peace of mind, and
  • Vehicle breakdown and 24 hour roadside assistance.

Contact us today for more information about easy vehicle finance in South Africa.

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Why Rent-to-Own is the best Vehicle Finance option to Start your Uber Business https://www.earnacar.co.za/why-rent-to-own-is-the-best-vehicle-finance-option-to-start-your-uber-business/ Mon, 22 Apr 2019 05:40:19 +0000 https://www.earnacar.co.za/?p=65908 Many South Africans have successfully started their Uber businesses in Johannesburg, Pretoria, Durban, Port Elizabeth and Cape Town. One of the ways they do this is by opting into a rent-to-buy car finance plan.   Investing in a fleet of cars is expensive. The other hurdle is that banks may not approve multiple loans. A [...]

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Many South Africans have successfully started their Uber businesses in Johannesburg, Pretoria, Durban, Port Elizabeth and Cape Town. One of the ways they do this is by opting into a rent-to-buy car finance plan.  

Investing in a fleet of cars is expensive. The other hurdle is that banks may not approve multiple loans. A financially sound way to overcome these hurdles is the rent-to-buy car finance plans from Earn-a-Car. Your business does not need a proven credit history or similar to get approved. All you need to apply for a rent-to-own car, is the following:

  • Upfront admin fee plus first month’s pro-rata rental
  • Proof of income
  • South African citizenship
  • Proof of identification
  • Proof of residency
  • Valid driver’s license

When you have an Uber business, you will have a number of qualified drivers making money for you. Your fleet of cars do not need to be new, but do need to be in good condition. This is good news for existing or potential Uber business owners. At Earn-a-Car, we have a wide variety of quality second-hand cars to choose from. Just let our team know that you are looking for cars for your Uber business and we will help you find the practical and affordable cars that you need.

Why use Earn-a-Car? We are unique because of our commitment to giving our customers the biggest value for money. Our online application and speedy feedback process is quick and seamless.

Through our partnerships with a number of reliable and expert companies, such as Guardrisk, Matrix and Avis Fleet Services, Earn-a-Car is able to offer our customers everything needed, under one roof, with excellent value. Contact us to find out more about a rent-to-buy car today.

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Why you should Partner with Earn-a-Car https://www.earnacar.co.za/why-you-should-partner-with-earn-a-car/ Mon, 15 Apr 2019 05:32:57 +0000 https://www.earnacar.co.za/?p=65903 Are you in the market to buy or lease a car? A rent-to-own car is a very affordable and a good financial option to get back on the road with a quality car that you need, without having to pay interest rates. The best part of applying for a rent-to-own car from Earn-a-Car is that [...]

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Are you in the market to buy or lease a car? A rent-to-own car is a very affordable and a good financial option to get back on the road with a quality car that you need, without having to pay interest rates.

The best part of applying for a rent-to-own car from Earn-a-Car is that you do not need to go through a lengthy approval process. If you do need car finance and you have a negative credit record, you will find it very difficult to get approval from a bank or traditional finance institution. A rent-to-own car finance plan from Earn-a-Car is ideal for you because the rent-to-own finance plan does not depend on your credit history. All you need, is to provide your proof of identity, a payslip, an upfront admin fee, the first months pro-rata rental amount and your proof of residence. You do need to be a South African citizen and live in Gauteng to qualify.

Earn-a-Car reviews all applications within 24 hours, so you could be driving away in your car in one day. All of our pre-owned vehicles are inspected by our expert car mechanics. We want you to be safe on the road, so we make sure that all our cars’ are in excellent mechanical condition and are well-maintained, before they leave our showroom.

With Earn-a-Car’s rent-to-own vehicle finance plan, you pay a monthly rental fee. If you would like to buy your car earlier than the contract period, unlike many other finance plans, you will not be penalised. A purchase price will be calculated for you with your cash back reward built into the price.

Another major benefit is that you can cancel your agreement. Because our finance plans are flexible, you can own your car in your own time or cancel your agreement by giving a one month calendar notice. If you do cancel your agreement before the end of the contract period, you will lose your upfront admin fee.

Contact us for more information about our rent-to-own car finance option today.

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Want to Buy a Car? This is why you should choose to Rent-to-Buy! https://www.earnacar.co.za/want-to-buy-a-car-this-is-why-you-should-choose-to-rent-to-buy/ Mon, 08 Apr 2019 10:28:47 +0000 https://www.earnacar.co.za/?p=65901 Transport costs are very expensive in South Africa and these costs are increased every six months. What can you do to minimise the high expense? Instead of taking on a new line of credit, why not opt for a rent-to-buy vehicle finance solution? At Earn-a-Car, we make it quick and easy for South Africans to [...]

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Transport costs are very expensive in South Africa and these costs are increased every six months. What can you do to minimise the high expense? Instead of taking on a new line of credit, why not opt for a rent-to-buy vehicle finance solution? At Earn-a-Car, we make it quick and easy for South Africans to get a car that they need. Here are some of the reasons why people are choosing this type of vehicle finance:

 

  • Even if you cannot buy a car today, you can take small monthly steps to owning the car in the future

 

Many people are unable to buy a car because they have a poor credit history, are blacklisted, under review, or simply do not want to make a big financial commitment right now or in the near future. A rent-to-buy car takes the pressure off you. With a rent-to-own a car finance plan, you rent the car for the duration of the rental contract and thereafter, you have the option to own the car, enter a new lease agreement or opt-out.

 

  • Peace of Mind

 

You don’t need to compromise on your safety or the vehicle maintenance needs. Earn-a-Car has partnered with accredited service providers to ensure that you receive accident cover, tracking and warranty, 24 hour roadside assistance and service assistance.

 

  • No Bank Loans

 

These are tough economic times. To decrease expenses, especially incurring additional high interest rate costs, people are not as willing to enter into new debt. Instead of overextending yourself with a high interest rate car loan from a bank, simply rent-to-own.

 

  • You get so much more

 

With Earn-a-Car, you get the following:

  • Fixed rental payment
  • No hidden costs
  • You can terminate the rental agreement with a one-month notice period
  • Part of the monthly rental amount that you pay, is accumulated and saved for you, if your account is up to date
  • An amount of your monthly rental is kept aside to assist you to service and maintain your car
  • Comprehensive accident cover
  • Vehicle Tracking
  • Comprehensive vehicle warranty option to give you peace of mind
  • Vehicle breakdown and roadside assistance

Contact us for more information about Earn-a-Car’s rent-to-buy today.

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No Deposit Needed when you Choose to Rent-to-Own a Car https://www.earnacar.co.za/no-deposit-needed-when-you-choose-to-rent-to-own-a-car/ Mon, 01 Apr 2019 10:27:59 +0000 https://www.earnacar.co.za/?p=65899 Blacklisted? Under review? Recovering from a bad credit score, then rent-to-own vehicle financing is for you. As long as you are able to make monthly rental payments and pay an upfront admin fee, then you do not have to look any further than Earn-a-Car. If you are looking for easy vehicle finance that gives you [...]

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Blacklisted? Under review? Recovering from a bad credit score, then rent-to-own vehicle financing is for you. As long as you are able to make monthly rental payments and pay an upfront admin fee, then you do not have to look any further than Earn-a-Car. If you are looking for easy vehicle finance that gives you access to vehicles in good condition that have been inspected by experienced vehicle mechanics, then we have the best deal for you.

When you submit an application for your rent-to-own car, we don’t conduct a credit review for you to receive vehicle financing. Our applications are reviewed within 24 hours and if you meet the requirements, you will be driving away in your car within two hours from the time that Earn-a-Car receives your documentation. With Earn-a-Car’s fleet of 1 000 cars, you will find your ideal vehicle that fits into your budget. We enjoy helping you to get back on the road.

We have the easiest 3-step process to rent-to-own a pre-owned car and have assisted over 5 000 customers in the past 10 years.

This is what you need to apply for a rent-to-own car from Earn-a-Car:

  • Upfront Admin Fee plus first month’s pro-rata rental
  • Proof of income
  • South African citizenship
  • Proof of identification
  • Valid driver’s license
  • Live in Gauteng

The online approval form will take you less than three minutes to complete. Once you have submitted this form to us, we will contact you and help you through the next steps. Contact us for more information about rent-to-own cars’ today.

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Is a Rent-to-Own Vehicle Finance Plan the Right type of Funding Structure for you? https://www.earnacar.co.za/is-a-rent-to-own-vehicle-finance-plan-the-right-type-of-funding-structure-for-you/ Mon, 25 Mar 2019 07:19:19 +0000 https://www.earnacar.co.za/?p=64560 Looking for really easy vehicle finance that is approved in record time? Then a rent-to-own car finance plan is something you should consider. Here is a brief overview of the main differences between buying a car by getting a loan and the rent- to-own car finance option:   Buying Rent-to-own Ownership You own the vehicle [...]

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Looking for really easy vehicle finance that is approved in record time? Then a rent-to-own car finance plan is something you should consider.

Here is a brief overview of the main differences between buying a car by getting a loan and the rent- to-own car finance option:

 

Buying

Rent-to-own

Ownership

You own the vehicle and get to keep it for as long as you want it.

You do not own the vehicle. You get to use it but must return it at the end of the lease unless you decide to buy it.

Up-front costs

You have the option of paying the cash price upfront, or to pay a deposit, administration fee as well as road taxes, registration and licensing.

Up-front costs include a deposit and the first month’s payment.

Monthly payments

Loan payments are usually higher than lease payments because you are paying off the entire purchase price of the vehicle, plus interest and other finance charges which include taxes and monthly administration fees.

Rental payments are often less  than loan repayments because you are paying only for the vehicle’s depreciation during the lease term, plus rent charges, taxes and fees.

Early termination

You can sell or trade in your vehicle at any time. If necessary, money from the sale can be used to pay off any loan or balloon payments.

If you need to terminate the rental contract earlier than you had expected to, a minimal finance penalty may apply.

With any contract, always pay attention to the fine print thoroughly, making sure you understand what the terms and conditions mean.

Ready to switch to a rent-to-own car finance plan? Then contact Earn-a-Car today.

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Car Insurance, Roadside Assistance and more – all part of the rent-to-own deal https://www.earnacar.co.za/car-insurance-roadside-assistance-and-more-all-part-of-the-rent-to-own-deal/ Mon, 18 Mar 2019 07:10:51 +0000 https://www.earnacar.co.za/?p=64555 A rent-to-own car finance contract from Earn-a-Car includes a number of extras! Listed below are just a few of the value adds that form part of a rent-to-own contract, that provide you with extra peace of mind:   Accident management and emergency services We have partnered with Matrix so that if you are in an [...]

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A rent-to-own car finance contract from Earn-a-Car includes a number of extras! Listed below are just a few of the value adds that form part of a rent-to-own contract, that provide you with extra peace of mind:  

Accident management and emergency services

We have partnered with Matrix so that if you are in an accident, whilst driving your rent-to-own car from Earn-a-Car, you can contact us on our 24-hour emergency response number 079 128 7818. Your monthly repayments include vehicle tracking, immobilisation and emergency response management.

Break down assistance

When you partner with Earn-a-Car for your rent to own vehicle, you have access to break down assistance too. Our SOS partner will provide you with the following roadside emergency services:

Flat Tyre  Free Call out + 1 hour labour
Flat Battery  Free Call out + 1 hour labour
Keys locked in vehicle  Free Call out + 1 hour labour
Run out of fuel  Free Call out (the fuel is for your account)
Towing Costs  First R500 of towing costs

 

Far from home? Our SOS partner will also provide you with the following services outside a radius of 100km from your home:

 Hotel Accommodation  First R500 of costs
 Safe Storage  First R500 of costs
 Repatriation of vehicle  First R1,000 of costs
 Maximum benefit payable per vehicle per annum  First R5,000 of costs

 

The option to buy your car earlier than the agreed finance period

If you would like to buy your car earlier than the original contract period, a purchase price will be calculated for you with your cash back reward built into the price.

This is what you need in order to qualify for a rent-to-own car finance plan from Earn-a-Car:

  • Upfront Admin Fee plus first month’s pro-rata rental
  • Proof of Income
  • South African citizenship
  • Proof of identification
  • Valid Drivers License

Whether you are blacklisted or simply prefer the rent-to-own finance plan, we can help you. Contact Earn-a-Car for more information today.

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Why Rent-to-own car financing is taking off in SA https://www.earnacar.co.za/why-rent-to-own-car-financing-is-taking-off-in-sa/ Mon, 11 Mar 2019 06:02:55 +0000 https://www.earnacar.co.za/?p=64552 Rent-to-own car financing is becoming increasingly popular in South Africa. In this blog post, we discuss a few reasons why: More affordable A new car is considerably more expensive than a pre-owned car and depreciates considerably within the first two years. More often than not, the monthly repayment amount that you will owe to the [...]

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Rent-to-own car financing is becoming increasingly popular in South Africa. In this blog post, we discuss a few reasons why:

More affordable

A new car is considerably more expensive than a pre-owned car and depreciates considerably within the first two years. More often than not, the monthly repayment amount that you will owe to the rent-to-own car company will be considerably less than a car payment.

No bank interest rates

Generally, the interest rate for vehicle finance is significantly higher than that of a home loan. If you opt-in for a rent-to-own car finance plan with Earn-a-Car, your monthly repayment will not increase if the South African interest rate increases.

Shorter terms

A bank will often penalise you if you are in a great financial position and decide to pay your car off earlier than the agreed contract period. At Earn-a-Car, you can select your own terms without being penalised, with a contract period of between 24 to 54 months.

No new lines of debt

With a rent-to-own car finance plan, you won’t be incurring another line of debt. You are simply renting the car until you own it. If you opt for a new or used car that needs to be financed through a bank, you will be adding a new line of debt to your name.

Easier application and approval

Many people who have been blacklisted or have a poor credit rating,  struggle to get a loan for a car from finance companies and registered credit providers. With a rent-to-own car finance plan, because you are renting the car and paying the monthly rental fee in advance, Earn-a-Car will not consider your credit history. All we need to know is that you earn a monthly income and are able to  pay for your car each month.

Simpler ownership process

With a rent-to-own car finance plan, you don’t own the vehicle, you are simply renting it. This means that there is a lot less paperwork and if you do meet the minimum requirements, you will be on the road within two hours, if you rent-a-car from Earn-a-Car.   

Ready to get the quality car you need through easy car financing? Then partner with Earn-a-Car today.

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