So, you’ve established a realistic monthly car payment that fits into your budget, been to a few car dealerships, browsed online, read car reviews, considered the petrol consumption and have taken the car that fits your needs for a test drive. Once you have decided on your ideal car, now is the time to decide on vehicle financing and whether you would like to buy or lease a car.
Many people assume that the only financing option available if you want to own a car, is to obtain a vehicle loan from a bank, however, there are other options available. With rent-to-buy car plans, you’re able to get the car you want without a vehicle loan from a bank, giving you the flexibility you need to feel 100% comfortable with your purchase.
Instead of committing to a vehicle loan with a bank and being locked into high-interest rate repayment plans, or hiring a vehicle from a long-term lease provider, with a rent-to-own vehicle plan you pay a monthly rental fee towards owning your car.
This type of vehicle financing is ideal for the following situations:
- You don’t have a credit history
- If you have been blacklisted and experience difficulty getting a bank to approve your loan application
- If you want the flexibility that goes hand-in-hand with being able to downscale or upscale if your financial situation were to change in the future.
The benefits of a rent-to-buy vehicle finance plan from Earn-a-Car include:
- Fixed monthly payments
- Roadside assistance
- Vehicle tracking and warranty
- Car service support
- Indemnity cover