Rent-to-Own Frequently Asked Questions

 

1) What is the rent to own a car process?
The Process of renting to own a car allows you to rent a car over an agreed to timeframe, after which it becomes yours.
Read more about the rent to own process

2) What is the finance plan to rent to own a car?
The finance plan usually involves putting down a deposit, and then making fixed payments on a monthly basis.
Read more about finance plan to rent to own a car

3) What if I can no longer afford the instalments of my rent to own car?
If you can no longer afford to keep paying towards your rental car, you can give it back but will lose all the money you’ve already paid towards it.
Read more what happens when you can no longer afford the instalments of my rent to own car

4) Can I rent to own a car with bad credit/if I am blacklisted?
In most cases the rent to own a car option is available to individuals who are blacklisted and have bad credit scores, as long as the instalments can be afforded.
Read more to see if you can rent to own a car with bad credit or blacklisted

5) Can I change my rent to own vehicle/trade down my rent to own vehicle while still paying it off?
Once you have paid your vehicle off for 12 months or more, we can discuss upgrading or trading down your rent to own car.

6) Are rent to own vehicles reliable?
Rent to own vehicles are no older than 3 years and are all roadworthy and up to date on their services, so they are very reliable.

7) Is my rent to own vehicle insured?
Yes, vehicle insurance and a tracker system are covered in the instalments that you pay towards your car.

8) Can anyone else drive my rent to own car?
Your rent to own car may be driven by anyone listed on the insurance. If you intend for more than one driver, please discuss this option with us upfront.

9) How does the ownership process work, once I have repaid all my instalments on my rent to own car?
Once you have paid off your rent to own car in full, there will be just one final instalment amount payable to us, before the car is yours.

10) Can I cancel my agreement to rent to own a car?
If the correct cancellation of rental contract notice is given, you may cancel your agreement with us at any time, without being charged penalties.

11) Are there limitations on mileage or travel with my rent to own car?
Unless otherwise arranged, our rent to own vehicles do not have mileage limitations, and may not cross South African borders.

12) Who is responsible for servicing and maintenance of my rent to own car?
If your rent to own car doesn’t carries a motor plan, then you will be responsible for its maintenance and services.

13) Can I buy and own my car earlier than the finance period agreed to?
As long as all the monthly instalments have been paid at their full rate, the option to own your rent to own car sooner can be discussed as an option.

14) What are the Pros and Cons of rent to own cars?
There are pros and cons to renting to own a vehicle, which need to be weighed up and considered beforehand.

15) What is the application criteria to rent to own a car?
You need to supply us with your latest payslip, a copy of your ID and valid driver’s license, 3 months banks statements and a proof of address.