No banks, no interest
Buying a car should be an exciting experience, and usually it is – except for the hoops you have to jump through to apply for bank finance and the interest on monthly payments.
Bank financing is a difficult process for many South Africans, especially those of us who have a less-than-perfect credit history or don’t earn a huge salary.
The lengthy application process, tons of forms and worries about credit checks cause many car buyers to feel anxious instead of looking forward to driving their new car. Rising interest rates threaten to increase monthly car installments in the months and years to come which adds to the stress of financing a vehicle.
Balloon payments that burst your bubble
Credit checks and rising interest rates aside, one of the biggest problems that many car buyers experience when dealing with banks is the final payment that has to be made.
So-called balloon payments that are deducted from the price of the vehicle to reduce the cost of monthly payments can often run into tens of thousands of rands – and if you can’t afford to pay them, you’ll have to sell the vehicle and start from scratch.
Despite the inconvenience and worry that bank financing can cause, many people still believe that they have no other option when it comes to buying a car – if you’re one of them, we have excellent news for you…
You can buy a great car without having to worry about bank financing
Wouldn’t it be nice if you could just apply to buy a car, provide a few simple documents, and get behind the wheel? That’s exactly how Rent to Buy car purchases work.
If you’re over 18, employed, earn more than R12 000 a month and have at least R10 000 saved up for a deposit, you have all the requirements to apply for a Rent to Buy car purchase agreement. You’ll be able to skip the bank application process and experience a new, hassle-free way to buy a car.
Discover a new way of buying the car you always wanted
Put our words to the test – if you’d like to experience the ease and convenience of renting to buy, today.