Your credit history does not have to affect your ability to get a good quality vehicle. There are some unique Rent to Own vehicle finance packages that are designed specifically for people who are blacklisted, making it possible for them to own a vehicle.
Car leasing companies offer the best quality, latest model vehicles and most have affordable payment schemes. Their vehicles usually come fully licensed, inspected (by qualified mechanics), and are ready to drive.
Besides that, car leasing companies also offer extended warranties and have professional sales teams who will guide you through the entire Rent to Own process.
Great News for Bad Credit Profiles
If you have poor payment profiles or are blacklisted, you are an ideal candidate to apply for a Rent to Own vehicle financing plan. Clients who want to trade-in their used cars will also find this plan beneficial.
If you are someone who is looking more at renting a car, as opposed to buying a new or used car, you will find the Rent to Own plan a wonderful opportunity for you because you get the chance to sit down with a professional and work out your own, flexible, financial arrangement.
To begin the Rent to Own process, you first choose a car you like, put down a down payment on the car, and you will subsequently make monthly rental payments. All the monthly rental payments that you make go towards the purchase of the car, so when you make your last payment, the car belongs to you.
No Credit Checks
The most advantageous aspect of Renting to Own, for people who are blacklisted or have bad credit profiles, is that there are usually no credit checks done on your payment history.
Some Rent to Own car companies offer you ‘no sweat financing’ so if you have bad (or no) credit, if your possessions have been repossessed, or if you are a first time buyer, you are still welcome to apply to Rent to Own a car.
There are, however, some conditions that you have to abide by when Renting to Own a car. You have to be over the age of eighteen years old; some form of identification is required to prove you are. And usually you will have to show proof of residence, like your telephone bill, which shows the car leasing company that you have a fixed place of residence.
Some Rent to Own car companies also have a program for first time buyers (also with no credit checks). In this instance, you would put down a deposit and subsequently pay your monthly payments. Those monthly payments are usually lower than what would be required from a financial institution.