Self-employed? Don’t let the banks tell you that you can’t get motor vehicle finance

Self-employed? Don’t let the banks tell you that you can’t get motor vehicle finance

By | 2017-06-30T10:58:14+00:00 17 July 2017|Blog, Vehicle finance|

One of the most frustrating aspects of being self-employed is being unable to get motor vehicle finance in South Africa. Or so the banks would tell you. For a long time, they were right. You could only get vehicle finance in South Africa if you were employed or you had your own business: with assets that could be attached. However, these days that’s not the reality for many self-employed people.

Many ‘sole traders’ who work online don’t have assets beyond a laptop. That kind of self-employed sector is growing fast in South Africa’s economy. Particularly among the 20 – 30’s age group, many of whom cannot secure loans. They thus had no other option but to save the needed cash. However, vehicle finance for self-employed people is now easily available through rent-to-own finance deals such as those offered by Earn-a-Car.

Easy vehicle finance for the self-employed – no assets required 

Rent-to-own finance options are as suitable for the self-employed as they are for those who need so-called ‘bad credit car loans’ or those buying a car while blacklisted. Although there are still some provisos (such as being older than 25 and a clean criminal record), the process is as simple as if you were employed by a company.

You can get approval within 24 hours with a down-payment of at least 20% of the total cost of the car and bank statements that show regular and consistent monthly income.

We will do our best to assist you to obtain an affordable and easy finance deal that doesn’t discriminate against you because you are self-employed. Contact us today to find out more about how Earn-a-Car can get you behind the wheel of the vehicle you want.