Buying a car in the post-COVID climate is not affordable, for many people. If you have a low credit score, you are going to experience a number of hurdles when trying to obtain finance from a car dealership. This is where the rent-to-own a car option comes in. Rent-to-own offers you the opportunity to pay monthly rental fees towards owning your pre-owned vehicle without credit checks. There are some disadvantages to this, however, the advantages far outweigh the losses. We take a brief look at both of these.
Dealer car mark-ups
Dealer car mark-ups are a legitimate way for broker-dealers to make a profit on the sale of securities and assets. They are not required to disclose the markup to the buyer, which leads to a lack of transparency and a possible loss for the buyer in the long-run.
On the bright side
With Rent-a-Car, there is a fixed rental payment (between R3000 – R5000) and a set down payment which is clearly stated upfront. The buyer is put at ease by ensuring that their lease has no hidden costs. You won’t have to worry about being taken for a ride – you have peace of mind knowing that you will only have to pay the monthly account, with no legal burden on you to provide credit checks or additional fees.
There are even MORE advantages of using the Rent-a-Car rent-to-own option:
- A vehicle within 24 hours of your application, without credit checks
- Comprehensive accident cover
- Vehicle Tracking
- Part of the monthly rental is cash which may be paid back to you if your account is up to date
- Quick termination of your rental agreement with one month’s notice
With all the benefits of rent-to-own, do you need more convincing? Call us today to take the first steps towards owning your vehicle.