We all have to face the fact that 2022 is going to be a difficult year – for South Africans as much as for people anywhere else in the world. However, that doesn’t mean we should all give up hope and accept the situation. There are always ways to survive – and even thrive – in tough economic times. Start by looking at ways to save on your budget and consider options like rent-to-buy cars.
Fuel and electricity costs are rising
Almost all of the essential resources we need are more expensive. Housing, food, electricity, clothing – we can expect to pay more for all of it this year. Owning a car has never been more expensive. Not only have the prices of vehicles themselves gone up, but fuel is on the rise as well. There are occasional brief downturns in the fuel price, but these only serve as brief reprieves before cost rises to an even higher level.
Where can you save in your budget?
How do we deal with the rising costs of living? They are unavoidable to a certain extent, but there are ways to reduce them. You can make cheaper living arrangements to save on housing – sell your property and rent a smaller place, for example. You can look for cheaper alternatives to your food staples, shopping at low- to mid-price stores, rather than insisting on luxury brands. To save on fuel costs, you could drive less or arrange a carpool with your neighbours and co-workers. Most importantly, avoid incurring any new debts. If you need to buy a car, steer clear of new and used dealers and go for a rent-to-buy option instead.
How a rent-to-own car can help you with your finances and credit score
Renting instead of buying enables you to pay less for a good used vehicle, as well as avoiding debt. You can rent a car without worrying about your credit history and without making a major long-term financial commitment that could damage your credit score if something goes wrong further down the line. If you cannot afford the car you are renting, you can easily trade down to a more affordable one. Then, once the rental period expires, and you have paid your monthly fees diligently, the car becomes yours.
Earn-a-Car specialises in providing quality rent-to-buy cars. Our cars offer convenience, affordability, and easy vehicle finance that is not dependent on the buyer’s credit history. Contact us for more information.