It is incredibly important to choose the best vehicle finance plan before buying a new or pre-loved car. Earn-a-Car offers a rent-to-buy finance plan that is not dependent on your personal credit history and you won’t be paying interest. The plan that you choose needs to cater for your needs, lifestyle and budget. Here are some important factors you need to know about the various vehicle finance options. 

Which vehicle finance plan should I choose? 

There are several vehicle finance options: 

Installment sale:

  • Vehicle must be used privately
  • A 10% down payment is required
  • A maximum of 54 months to pay off the vehicle 


  • The vehicle needs to be used for production of income
  • No upfront down payment is required
  • Good credit rating is required
  • Work-related vehicles require upkeep on taxes
  • Maximum lease term is 60 months

Residual Lease:

  • You need to finance up to 60% of the purchase price and pay off the remainder 40% over a fixed term.
  • Appropriate for business owners

Access Bond:

  • Use the financial equity in your home to finance your vehicle 
  • Monthly payments are less expensive, however
  • Paying the car off over the extended period of your bond, the amount of interest accrued on your home loan, increases significantly.  

How long will it take to pay off a car? 

Most people assume that the only way to finance a car is by either taking out a loan from a bank, or financing the car through a vehicle finance company. However, Earn-a-Car offers a rent-to-buy finance plan that gives you the opportunity to avoid having to pay high interest rates on your monthly repayments. Our rent-to-buy car finance option is interest free. Every monthly payment that you make, goes towards making your car, officially yours in as little as 4 years!

What interest will I be paying?  

You want to aim to get the lowest interest rate possible, which is dependent on your credit score and history. You will need to speak to different dealerships and compare deals. At Earn-a-Car, the rent-to-buy vehicle finance plan is interest free.

How much money is required upfront? 

In most instances, vehicle finance companies require at least a 10% deposit. The percentage is based on the sales price of the car. For example, if you are purchasing a car for R200,000, the deposit would be R20,000. At Earn-a-Car, an upfront payment of approximately R16,000 is required. This does depend on the car you choose. 

Rent-to-buy vehicle finance provides an easy alternative to expensive bank loans and high interest rates that financial companies charge.  At Earn-a-Car, your credit score will not affect the chance of you owning your own car. Contact us today for more information.