Many people believe that renting a car works out to be cheaper than buying a car. Before you enter an auto-leasing agreement, you have to make sure if that is true, or not. You have to make an informed decision before rushing into anything. We will help you with that in this article.
Renting a car saves money
Renting a car is cheaper than buying a car. The payments are cheaper and you have the opportunity of changing your car every three to four years, depending on the type of rental agreement that you have. Renting a car means that you pay a dealership for the length of your lease. You pay for the depreciation of the vehicle and fees and interest each month. Once you reach the end of the lease contract, you have the option of keeping the car or to exchange the car for another one.
Qualifying for rent-to-own financing
In order to qualify for rent-to-own financing, the dealership will take a look at your credit score. They will need your identification documentation, proof of residence, driver’s license, and the contact details of your next of kin. This will be done as a background check, and to know your credit score for renting a vehicle.
Less financial commitment
When renting a car, you will pay less monthly than you would pay for a loan, because there are so many costs factored into monthly loan payments.
Deals come with car insurance
The lease usually includes car insurance, which means that if your car gets into an accident, the insurance will cover any costs that might be required, even if the car is a write-off.
Contact Earn-a-car to find out more about renting a car to own.