Rent-to-own vehicle finance programmes have become very popular over the past few years. In most parts of South Africa, you absolutely need a car to get around, but not everyone wants to take on all of the obligations involved in buying a car. Here are some of the top benefits of rent-to-buy car finance plans:
- No Bank Loans
In tough economic times, people are hesitant to take on new lines of credit (and rightfully so). If you want to avoid over-extending your finance, then a rent-to-own car finance plan is a good option. Instead of taking out a loan from a bank, you will be renting your car from Earn-a-Car. Continue paying the monthly rental fee and the car becomes yours. This way, you can avoid taking on new loans and you get the car you need.
- No High Interest Rates
Car loans have higher interest rates than home loans, so your car will cost you much more than the sale price in the long run. If you have a less than stellar credit history, the interest rates that banks are willing to give you could be even higher. With a rent-to-own car, your monthly rental fee stays the same and is not subject to changing interest rates.
- Cheaper Compared to new Cars
The cars at Earn-a-Car are high-quality second-hand cars that have all been checked by our experienced mechanics. While new cars are straight out of the box, they lose a significant portion of their value the minute you drive them out of the showroom. The wise financial decision is to invest in a rent-to-buy car.
Contact us if you are ready to make a good choice with easy vehicle finance from Earn-a-Car.