Earn-a-Car https://www.earnacar.co.za Rent to own a pre-owned car Fri, 19 Mar 2021 12:37:15 +0000 en-US hourly 1 https://wordpress.org/?v=5.7 Car buying guide: How to buy your vehicle online https://www.earnacar.co.za/car-buying-guide-how-to-buy-your-vehicle-online/ Fri, 19 Mar 2021 07:32:29 +0000 https://www.earnacar.co.za/?p=101740 As with all large purchases, it is essential to do your research before buying your car online. Purchasing a vehicle is not a small deal, so it is vital to fully understand all the core elements surrounding the decision you are about to make. Here is a quick guide to take you through the steps. [...]

The post Car buying guide: How to buy your vehicle online appeared first on Earn-a-Car.

]]>
As with all large purchases, it is essential to do your research before buying your car online. Purchasing a vehicle is not a small deal, so it is vital to fully understand all the core elements surrounding the decision you are about to make. Here is a quick guide to take you through the steps.

Understand your budget 

Before starting with the online buying process, there are some tasks you need to take care of. First on that list is establishing your budget. You will want to consider the total cost of the car, including the total cost of interest you will pay over the term of your loan, as well as all the other costs of putting a vehicle on the road, including fuel, insurance, license renewals and maintenance. 

Know what type of car you want and need

Are you still wondering which car is right for you or how to decide which car to buy? The best place to start is to search for a car that fits your lifestyle preferences and requirements. The first thing you will need to understand is the make and model of the vehicle including the mileage. When choosing a car, it is important to ensure that the car meets your needs. Therefore, save yourself from future hassle of having to buy another car in the short term by undertaking thorough research into the different types of cars and finding one that is suitable for you.

Get pre-approved for your loan 

It is easy to get a pre-approved finance deal online. You can shop at credit unions, banks and other lenders, or choose a website that can get you offers from multiple lenders with a single application. Earn-a-Car can provide you with an instant online pre-approval system that takes less than two minutes to complete. If you qualify and have the required documents and upfront payment, you can drive away in your chosen car within 2 hours.  

Use the rent-to-buy option 

The rent-to-buy car financing option is a plan where you pay a monthly rental instalment (not subject to interest rates as with a vehicle loan), and at the end of the fixed term, the car becomes yours.

With Earn-a-Car, you can get to own your car in as little as four years or less, depending on your financial situation. We provide affordable rates that are interest-free. Contact us today for more information about our easy vehicle financing options and rent-to-buy cars.

The post Car buying guide: How to buy your vehicle online appeared first on Earn-a-Car.

]]>
Qualifying for rent-to-own car financing https://www.earnacar.co.za/qualifying-for-rent-to-own-car-financing/ Mon, 15 Mar 2021 12:25:09 +0000 https://www.earnacar.co.za/?p=101737 Rent-to-own car dealerships do not verify the amount balance in your bank account or check your credit history. This financing option can be especially beneficial in helping people with bad credit to own a car, as long as they can meet the specific requirements. Usually, rent-to-own vehicle financing companies only ask you to provide your [...]

The post Qualifying for rent-to-own car financing appeared first on Earn-a-Car.

]]>
Rent-to-own car dealerships do not verify the amount balance in your bank account or check your credit history. This financing option can be especially beneficial in helping people with bad credit to own a car, as long as they can meet the specific requirements. Usually, rent-to-own vehicle financing companies only ask you to provide your ID, proof of residence, proof of income, and a payslip, as you will need to show you can afford the rental payments.

Rent-to-own advantages 

  1. You do not pay interest because there is no money being loaned. Instead, you rent a car and have the option to own it at the end of the contract term. Your monthly payments include the cost of renting the vehicle and repayments on the eventual purchase. Interest costs can quickly rack up into the thousands, so avoiding this is hugely beneficial to your bank balance.
  2. There are no credit checks. Unlike a contract to purchase a car, rent-to-own car agreements are simple and advantageous for customers who have a low credit score or are blacklisted. Entering into a rent-to-own agreement allows you to build equity and improve your credit score, which helps you save money to pay off debt and increase your credit rating.
  3. Fixed, all-inclusive repayments do not fluctuate as a variable-rate car loan might. They also typically include rental fees, car repayments, registration, and insurance costs, given that the rental company still owns the car. This convenience, coupled with fixed monthly repayments, can help with budgeting and financial planning. The monthly rental amount often includes basic insurance, roadside assistance, and a vehicle tracking device.

Rent-to-own disadvantages 

  1. You do not own the car until it is fully paid off. While you are making rental repayments on the vehicle, ownership will remain with the provider. It will only be turned over to you after you have completed paying all the instalments and the contract term has ended. Since you do not own the car during the rental period, you cannot make any alterations or modifications to the car, or classify it as your own asset for other financial purposes.
  2. This type of car financing may often involve higher fees and repayments compared to other options. These can include account-keeping fees, direct debit fees, late payment fees, and termination fees for breaking the agreement before the end of the contract term or paying the car off early. Some of these fees can be quite substantial and, when stacked together along with the repayments, may make a rent-to-own arrangement more expensive in the long run than purchasing a car outright.
  3. Rent-to-own cars are expensive, as the monthly repayments typically work out to cost more than if you were to get a car loan over a longer period of time, for example 72 months. When this is coupled with contracts that often require an upfront or end balloon payment, you will end up paying far more for the car than if you had bought it for cash upfront. 

Want to find out more about rent-to-own vehicle financing? Then get in touch with Earn-a-Car today.

The post Qualifying for rent-to-own car financing appeared first on Earn-a-Car.

]]>
Vehicle financing: buying versus leasing a car https://www.earnacar.co.za/vehicle-financing-buying-versus-leasing-a-car/ Tue, 09 Mar 2021 12:15:33 +0000 https://www.earnacar.co.za/?p=101733 Amid rising interest rates, inflation, rising petrol prices, and a challenging economic climate, leasing may seem like a more attractive option over buying a car. Many South Africans tend to follow a more traditional financing model for purchasing cars via a bank loan. However, leasing is increasingly gaining popularity, especially in the high-end premium brand [...]

The post Vehicle financing: buying versus leasing a car appeared first on Earn-a-Car.

]]>
Amid rising interest rates, inflation, rising petrol prices, and a challenging economic climate, leasing may seem like a more attractive option over buying a car. Many South Africans tend to follow a more traditional financing model for purchasing cars via a bank loan. However, leasing is increasingly gaining popularity, especially in the high-end premium brand market. One key difference between leasing and purchasing is that you will not own the car at the end of your lease term. Lease contracts are typically structured for shorter terms, such as 36 months, while vehicle finance contracts can range from 12 to 72 months, depending on the buyer’s affordability. At the end of the agreement, the leaser can either return the car, sign a new contract, or settle the guaranteed future value and take ownership, whereas a purchaser will own the vehicle, or they can trade it in.

Buying versus leasing – the cost 

Financial institutions allow you to buy vehicles and other assets and pay for them over an agreed period. The benefit is that ownership will automatically be passed to you once you have made the final payment. Owning a vehicle also carries none of the economic penalties and mileage restrictions experienced with leasing and renting.

With a lease agreement, you will have uninterrupted use of the car rather than ownership of it. At the end of the agreed period, you can choose to take ownership of the car or return it to the bank. You can drive a new car every few years and benefit from the safety, fuel economy, and performance advancements of newer models. For business owners who use their cars in an income-generating capacity, repayments are tax-deductible. Balloon options are also available under leasing and instalment agreements. Although you will be obligated to pay this at the end of the term, you can benefit from reduced monthly payments.

Make sure you consider mileage limitations. Exceeding your annual mileage restriction stated in the lease agreement, will cost you extra charges, depending on the vehicle purchased. These vary between R2 to R8 per kilometre. A drawback to leasing a car is the audit process when returning it. The leasing agent will finely scrutinise the vehicle to evaluate the damage done to the vehicle. You will need to pay additional fees for anything not considered normal wear and tear. Breaking the lease before the end of the leasing agreement can be costly.

Earn-a-Car has a simple rent-to-own solution for you

If you can provide proof of income, make a minimum upfront payment (admin fee) of approximately R16,500, make a monthly payment of between R4,500 and R8,000, and meet our simple requirements, then you can own a vehicle in as little as 54 months. For more information about lease-to-own and rent-to-buy vehicle financing solutions, contact us today.

The post Vehicle financing: buying versus leasing a car appeared first on Earn-a-Car.

]]>
Qualifying for a rent-to-own car with a low credit score https://www.earnacar.co.za/qualifying-for-a-rent-to-own-car-with-a-low-credit-score/ Tue, 02 Mar 2021 12:08:44 +0000 https://www.earnacar.co.za/?p=101729 An all-too-common and widespread misconception for many is that being blacklisted, having a poor credit score, or not qualifying for traditional vehicle finance from conventional financial institutions would automatically make owning a car impossible. Rent-to-own vehicle finance plans from a reputable car company can provide a great alternative to traditional car financing options, allowing you [...]

The post Qualifying for a rent-to-own car with a low credit score appeared first on Earn-a-Car.

]]>
An all-too-common and widespread misconception for many is that being blacklisted, having a poor credit score, or not qualifying for traditional vehicle finance from conventional financial institutions would automatically make owning a car impossible. Rent-to-own vehicle finance plans from a reputable car company can provide a great alternative to traditional car financing options, allowing you to earn your car as you use it and build up a better credit record while you do!

Can I finance a rent-to-own car through a traditional bank? 

Traditional financial institutions such as banks have stringent criteria for vehicle financing, which may rule out this option for many people with a poor credit history. Rent-to-own solutions offer you a way to pay off your car while driving around town, popping into the shops, and picking up the kids from school. In as little as 54 months, you will have become the proud new owner of your car, having done it all without the costly help of a bank.

This favourable financing option does not require you to have a high credit score; in fact, a reputable car company such as Earn-a-Car does not even need a credit check on their customers! With a rent-to-own vehicle finance plan, you are merely renting the vehicle of your choice while accumulating sufficient funds through your monthly instalments towards its ownership. If you choose this vehicle financing option, you are not only mobile; you will also get a comprehensive warranty covering your: contract term, a monthly towing subsidy, vehicle tracking, indemnity against accidents, and cash-back loyalty rewards for a healthy payment record. If you have no criminal record, you only need your: proof of income, driver’s license, South African I.D. book, and a minimum upfront administration fee of R15,000 (or 20% of the value of the car you choose). You could be driving away in the vehicle of your dreams within 24 hours!

With Earn-a-Car, you can get the rent-to-own vehicle finance plan that will suit your lifestyle, your needs and will give you the freedom you require to achieve your dreams—all without the need for costly and restrictive traditional vehicle finance. Your credit standing will not affect your application or ability to get a vehicle from Earn-a-Car. We offer rent-to-own and rent-to-buy vehicle financing options so you can get behind the wheel of your car in just a few easy steps. For more information on our rent-to-own solutions in South Africa, contact us today

The post Qualifying for a rent-to-own car with a low credit score appeared first on Earn-a-Car.

]]>
What used cars to avoid? https://www.earnacar.co.za/what-used-cars-to-avoid/ Mon, 22 Feb 2021 08:14:54 +0000 https://www.earnacar.co.za/?p=101427 Buying a pre-owned vehicle can be a daunting process, especially if you do not use a reputable dealer. You need to do your research and ensure that you use car dealerships that focus on the buyer’s safety and financial affordability. The car you invest in needs to be worth your time and money, so you [...]

The post What used cars to avoid? appeared first on Earn-a-Car.

]]>
Buying a pre-owned vehicle can be a daunting process, especially if you do not use a reputable dealer. You need to do your research and ensure that you use car dealerships that focus on the buyer’s safety and financial affordability. The car you invest in needs to be worth your time and money, so you need to know a badly used vehicle when you see one. We have tips to help you choose a safe vehicle for you and your loved ones.

4 Warning signs of a badly used vehicle

1. Inaccurate listings

Dealerships have car listings (usually on their websites) that state the details of the car and its condition. Ensure that you check the listings carefully for any inaccuracies or details that seem a bit too good to be true. You should contact the dealer directly and head down to the store if you find a discrepancy in the listed price or spec of the car.

2. Wrong upholstery 

All car brands have matching upholstery throughout the interior. If the upholstery isn’t consistent with the car, it means that the buyer replaced the interior materials, indicating possible past water damage, or the car may have been involved in an accident.

3. Untidy Interior 

If you notice dirt or grime, or if the car’s interior is simply untidy, there is a good chance that the buyer paid no attention to the vehicle’s mechanics either. Be wary and ensure that you test drive the car or call an expert inspector.

4. Missing history report 

All dealerships and previous owners can easily access a vehicle’s history report. If the buyer does not want to provide a report (or does not have one), this is an indication that the vehicle most likely was not routinely serviced and maintained, endured previous damage or mechanical failure. 

Rent-to-own is a good option to use if you want to get the feel of a car before making a life-long commitment. The deals are flexible, meaning you can own your car in your own time, or over the maximum period of 54 months, or cancel your agreement by giving one calendar month’s notice if you change your mind. Earn-a-Car provides a comprehensive warranty cover to give you peace of mind when it comes to owning your new pre-owned vehicle. For more details, contact us today!

The post What used cars to avoid? appeared first on Earn-a-Car.

]]>
Get an independent mechanical inspection https://www.earnacar.co.za/get-an-independent-mechanical-inspection/ Tue, 16 Feb 2021 08:07:59 +0000 https://www.earnacar.co.za/?p=101423 Nobody wants to buy a car with existing mechanical problems! Buying a pre-owned vehicle is an exciting step to take. You don’t want to be taken for a ride when it comes to the quality of your car. There are simple ways to ensure that you receive only the best bang for your buck and [...]

The post Get an independent mechanical inspection appeared first on Earn-a-Car.

]]>
Nobody wants to buy a car with existing mechanical problems! Buying a pre-owned vehicle is an exciting step to take. You don’t want to be taken for a ride when it comes to the quality of your car. There are simple ways to ensure that you receive only the best bang for your buck and ensure that you do not encounter any mechanical issues down the road. We are here to help you out!

Protecting and empowering the buyer 

As a buyer, you have the right to gather as much information as possible about your new car that you are planning to invest your hard-earned money in. When you buy a car, it is important to take note of its history. Here are some questions you should be asking car dealerships: 

  • Was the car inspected by a professional?  
  • Do you have proof of this inspection?
  • Do you have a warranty available should I encounter any problems with the car?

If the answer to any (or all) of the above is no, it is probably not a good idea to put your trust in the dealer. An independent mechanical inspection is important to ensure that you have piece of mind and that you are investing in a reliable car for your and your family’s safety. The independent mechanical inspectors are experts in their field that ensure that you pay the correct value for the car you want. They do this by providing a comprehensive inspection, technical, and car valuation report. 

Earn-a-Car protects and empowers the buyer by ensuring that buyers receive written proof of the vehicle’s original condition upfront. There are no hidden fees or risks involved. And, at Earn-a-Car, a small amount of the buyer’s monthly rental payment is kept aside to help assist the buyer to pay for servicing and maintenance of the vehicle. This guarantees that all vehicles are roadworthy and rented in the best possible condition. Along with this assurance, a comprehensive vehicle warranty cover is provided for extra peace of mind. 

Rent a pre-owned vehicle and take the first step to own a car. Contact us today!

The post Get an independent mechanical inspection appeared first on Earn-a-Car.

]]>
Advantages and disadvantages of rent-to-own https://www.earnacar.co.za/advantages-and-disadvantages-of-rent-to-own/ Tue, 09 Feb 2021 07:57:27 +0000 https://www.earnacar.co.za/?p=101417 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 [...]

The post Advantages and disadvantages of rent-to-own appeared first on Earn-a-Car.

]]>
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

Disadvantages 

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. 

The post Advantages and disadvantages of rent-to-own appeared first on Earn-a-Car.

]]>
How rent-to-own works https://www.earnacar.co.za/how-rent-to-own-works/ Tue, 02 Feb 2021 07:37:24 +0000 https://www.earnacar.co.za/?p=101413 Is bad credit causing you to struggle to obtain car finance? Rent-to-own options are the perfect solution for anyone looking to purchase a car without all the financial hassles of credit bureaus. Want to find out more? No problem! We have an easy guideline on how rent-to-own works. Rent-to-own cars Rent-to-own is a simple rent-to-own [...]

The post How rent-to-own works appeared first on Earn-a-Car.

]]>
Is bad credit causing you to struggle to obtain car finance? Rent-to-own options are the perfect solution for anyone looking to purchase a car without all the financial hassles of credit bureaus. Want to find out more? No problem! We have an easy guideline on how rent-to-own works.

Rent-to-own cars

Rent-to-own is a simple rent-to-own option that allows you to pay a monthly fee towards your car. You will pay a rental installment every month (not subject to interest rates as with a vehicle loan). With this monthly fee, you can own a vehicle in as little as 54 months. The requirements are easier than vehicle finance in that there is less paperwork – all you need is your proof of payment. It is also a more affordable option for those struggling to obtain car finance and to avoid having to pay high interest rates.

Rent-to-own cars with no credit check

Earn-a-Car allows anyone to apply for a rent-to-own vehicle finance option, regardless of their credit history. There is absolutely no unnecessary paperwork or credit checks required, and all you need is your proof of payment, a minimum upfront payment of approximately R 16,500 (which goes towards administration fees), and a monthly payment of between R4,500 and R8,000. The monthly payment depends on the car you choose. It’s that simple and no, there are no hidden costs! This is a great option for buyers looking to own a car quickly, without the lengthy process of waiting on paperwork and feedback or reverts from banks. 

Along with the easy process, Earn-a-Car also offers comprehensive vehicle warranty cover options to give you additional peace of mind and you automatically receive 24 hour roadside assistance. If you qualify, the entire process takes less than 2 hours, thereafter you could be driving away, hassle free. Rent-to-own a car deals offer the best value for your money.

To learn more about these rent-to-own deals or to own your pre-owned vehicle ASAP, contact Earn-a-Car today!

The post How rent-to-own works appeared first on Earn-a-Car.

]]>
Our company history and promise https://www.earnacar.co.za/our-company-history-and-promise/ Fri, 15 Jan 2021 06:31:26 +0000 https://www.earnacar.co.za/?p=98939 Owning your own car is a necessity these days. We live fast-paced lifestyles, are on the move, and want to get to where we need to be, as fast as possible.  But the reality of actually owning your own vehicle is that many people simply cannot afford to buy a car, especially in today's tough [...]

The post Our company history and promise appeared first on Earn-a-Car.

]]>
Owning your own car is a necessity these days. We live fast-paced lifestyles, are on the move, and want to get to where we need to be, as fast as possible. 

But the reality of actually owning your own vehicle is that many people simply cannot afford to buy a car, especially in today’s tough economy.  A rent-to-own car is a fantastic solution to owning a car as we have a unique methodology when it comes to buying a car. 

With rent-to-own cars, you can take ownership of your car after a fixed period of paying fixed rental instalments – simple as that. One of the best benefits of paying a fixed rental instalment towards a car is that it is not subject to the same interest rates as a traditional vehicle finance loan would be. 

If you find yourself without the financial means to get there, there is an easier way to get easy vehicle finance that will suit your budgetary requirements. 

An easy three-step plan to owning a rent to buy car

We have built a reputable company aimed at helping people realise their dreams of owning a vehicle with an easy and simple 3 step application process. Few other vehicle companies can make this happen for you in as short a time as we do and we are not prejudiced towards your credit history. 

Established a decade ago we are still growing and have helped more than 5,000 customers drive away in their very own rent to own cars. We have a wide range of quality pre-owned cars, where you can be certain to find a car you’ll love. 

The core principle with which we pride ourselves in, is being able to fulfil a customers wish of securing a vehicle that they might not otherwise have been allowed to obtain with other vehicle finance companies. 

Contact us today or complete the online instant approval form to find out more information about our rent to own cars and how you can be driving away in one in next to no time at all. 

The post Our company history and promise appeared first on Earn-a-Car.

]]>
Meet our team! https://www.earnacar.co.za/meet-our-team/ Mon, 11 Jan 2021 08:13:39 +0000 https://www.earnacar.co.za/?p=98935 The road to owning a car can be a rough one if you aren't able to qualify for a vehicle loan because of poor credit history. However, there are other avenues available that can help you with purchasing a rent-to-own car.  We have the expert knowledge you need to help you succeed in owning a [...]

The post Meet our team! appeared first on Earn-a-Car.

]]>
The road to owning a car can be a rough one if you aren’t able to qualify for a vehicle loan because of poor credit history. However, there are other avenues available that can help you with purchasing a rent-to-own car. 

We have the expert knowledge you need to help you succeed in owning a rent-to-own car by helping you get car finance, despite a low credit score. Our expert team of professionals is available to assist you every step of the way. 

Meet the Team

Bruce Dunnington – the CFO of Earn-a-Car, Inc, and member of CIMA (Chartered Institute of Management Accountants), and The South African Institute of Chartered Accountants.

William Molema – Sales extraordinaire who will guide you along the sales process and will help you achieve your dream of owning a rent-to-own car in no time. 

Marius du Plessis – Director of Earn-a-Car, Inc. and the visionary behind our mission to help you own your own car in financial crises. 

Dona de Klerk – Manager of Earn-a-Car who knows the ins and outs of our company through and through and is always available to help answer your questions and assist you where possible.

Getting a rent to buy car is easy 

We have an entire team available at your service that can help you with the process of owning your very own car. We aim to make the process as quick and easy as possible – because who has the time nowadays to spend waiting around for long and complicated processes that might ultimately end with a ‘no’.

Contact us today for more information about our easy hassle-free 3-step program to owning your own rent to own car

The post Meet our team! appeared first on Earn-a-Car.

]]>