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