Owning a vehicle these days is considered essential. Whether you use it for work and recreational purposes or school runs, owning a car gives you the option to get around in your own time, when you need to.
However, being able to purchase a car if you have a low credit score or if you do not have a credit history, is a challenge. And even more so if you find yourself in the unfortunate position of being blacklisted.
Why you should choose a rent-to-own car finance option
If you are not successful in obtaining vehicle finance from a finance institution, it begs the question – is there an alternative option? Yes, rent-to-own car finance gives you the ability to rent a car for a fixed term, with monthly repayments, where you have the option of owning the car at the end of the lease term.
A rent-to-own car has many benefits, which includes:
- No interest rates on repayments. This is because you are entering into a rental agreement at a fixed rate that is not subject to interest rates which fluctuate.
- The sign-up process is an easier and more efficient process. All that is needed, is an upfront admin fee plus first month’s pro-rata rental, proof of Income, South African citizenship and your ID as well as a valid driver’s licence.
- And if being blacklisted is the main obstacle you are facing; your credit score is not taken into account in your application.
How we can help you find a rent-to-own vehicle
With Earn-a-Car you can use our rent-to-buy option to acquire a pre-loved car that has been fully inspected by our qualified Car Technicians. We don’t let a low credit score get in the way of you owning your car.