Economists have predicted that 2022 will be a particularly tough year for South Africans. As we come to the end of the first quarter, it seems that they are right in most respects. The continuing effects of the COVID-19 pandemic, soaring prices and record unemployment levels are all contributing to a difficult economic climate that is taking a toll on Saffers’ budgets. There are many ways to lessen the impact of the economic downturn. Choosing a rent-to-buy car, instead of buying a new or used vehicle, is one way to reduce your costs.

Growth risks in SA

Economists have identified a number of key growth risks that are going to make it very difficult to see much economic progress in South Africa this year. These include an overall decrease in demand for goods around the world, which will lead to an overall slowdown in production and income. Other factors include the ongoing electricity supply crisis, softer commodity prices, unemployment and the uncertain future of the COVID-19 situation. 

Medium-term pressures

As if these immediate problems weren’t concerning enough, there are also several mid-term factors that will put even more pressure on both government and civil society. The Social Relief of Distress Grant is expiring this month, removing a steady source of income from millions of households. In addition, municipal finances in many towns and cities around the country are in total disarray, and several state-owned institutions are still struggling to recover from years of mismanagement. 

Add all of these factors together, and you get a highly constrained economic situation that will present many challenges for all of us. 

How a rent-to-own car can save you money

As you examine your budget to see where you can reduce your costs in order to overcome these challenges, one option you should consider is a rent-to-own car. Renting to own reduces the cost and financial commitment of having a vehicle. With beautiful pre-owned cars in excellent condition, at rental rates suited to your budget, you can make driving a far less costly experience.  

Earn-a-Car specialises in providing quality rent-to-buy cars. Our cars offer convenience, affordability, and easy vehicle finance that is not dependent on the buyer’s credit history. Contact us for more information.