Since 2020, the cost of living has skyrocketed around the world. South Africa has not been insulated from the onslaught of rising prices. As inflation makes its presence felt, the cost of essentials, from housing to transport and food, continues to go up. All consumers are looking for ways to save money and reduce the impact on their bank accounts. It has never been more expensive to buy a new or used vehicle, but a rent-to-own car is a great cost-saving alternative that can help you beat inflation.

Car prices and fuel costs are going up

For many South Africans, owning a car is a necessity, not a luxury. With a dearth of suitable public transport options, many commuters need to have a car to get to and from their jobs every day, in addition to other travel needs. Unfortunately, this necessity seems constantly to increase in cost. Since March 2020, the demand for used cars has increased, and fewer people are buying new cars. The cost of supplying new cars forced manufacturers to increase their prices, pushing motorists to seek out viable used alternatives. As demand has risen in the used car market, so has the availability of high-quality used cars. The combination of these two factors has led to a rise in the prices in the pre-owned market. The cost of fuel and maintenance means that, once motorists have bought their used cars, they also have to pay more to keep them running. Overall, there seems to be no reprieve for South African car owners. Occasional drops in fuel price do little to alleviate the financial pressure.

Benefits of renting a car instead of buying

There is an alternative, however. Instead of buying a new or used car, motorists can opt to rent to buy. A used, rent-to-own car comes with less financial commitment and lower prices. Motorists can rent their cars for as long as they like, and return them if they can no longer manage the rental rate. They can also exchange one vehicle for a cheaper model if their budgets get tighter. If they choose to hold onto their rental cars for the entire lease period, and pay their fees diligently throughout, the car then becomes their property.

Why Earn-a-Car?

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