The real hidden costs of owning a car.
There’s more to owning a car than monthly repayments. You see an ad for two or three thousand rand a month and think, “I can afford that”. As fuel prices increase and monthly repayments remain constant, South Africans have been led to consider pricing when buying an affordable car. The truth is, you probably can get your first car before the end of the month – all checks and balances considered – but before driving off, you’ll have to fork out more than that monthly instalment.
Yes, there’s a catch. The additional costs of insurance, licensing and registration, annual disc fees, and changing your tyres aren’t part of the annual service – did you know that?
Knowing what the hidden costs of owning a car are, beyond the obvious, helps you plan on how to deal with them. This will save you from overextending yourself every month, trying to keep up with the cost of running your car.
Keep car ownership the exciting – and convenient – experience it should be with these tips to help you make a wise decision about the car you can really afford.
If you are struggling to get vehicle finance from a bank or other financial institution, then it is time to consider rent-to-buy car financing options. Not only does it help you to avoid a new line of credit, but you also will not have to pay the high interest rates that banks charge on vehicle loans.
With Earn a Car, you can get your car in 24 hours. All you need is an upfront admin fee plus the first month’s pro-rata rental, an initiation fee of approximately R16 500 depending on the car you choose, proof of income, South African citizenship, proof of identification and a valid driver’s license and live in Gauteng, Cape Town (and surrounds), Gqeberha (and surrounds), Emalahleni/Middelburg (and surrounds), Rustenburg (and surrounds), or Limpopo.
With Earn a Car, you will get:
- Fixed rental payment
- No hidden costs
- Option to terminate the rental agreement with one months’ notice
- Part of monthly rental is cash which may be paid back to you to spend as you like, if your account is up to date
- An amount of your monthly rental will be kept aside to assist you to service and maintain your vehicle
- Comprehensive accident cover
- Vehicle Tracking
- Comprehensive vehicle warranty cover to give you peace of mind
- Vehicle breakdown and roadside assistance
About Earn a Car
Earn a Car is the first rent-to-own car company in South Africa. The company has been in business for over 9 years and it has helped over 6 000 people get access to easy and affordable vehicle finance with no hidden terms or conditions, even if you are blacklisted.
With over 1 000 cars for you to choose from; Earn a Car will make sure your car is in excellent condition when you drive away in your new set of wheels. Our rent-to-own vehicle finance plans are designed to suit your budget, so that you can eventually own your car. Contact us for more information about rent-to-own vehicle financing today.