Frequently Asked Questions - Rent to Own Vehicles
How does Rent to Own Vehicles work ?
If you can afford it, you can get a car. It doesn’t matter if you are blacklisted.
All you need is your FICA documents, a minimum deposit of R15 000 and the first months rental payable in advance.
What is an Installment Takeover ?
If a person can no longer afford to pay their vehcile, but owe too much to the bank (ie. they owe more than what the car is worth), they can give it to someone to take over payments thereby keeping their credit score healthy
What is the differnce between Rent to Own and Installment Takeover ?
Rent to Own vehicle has a fixed term or 48-60 months with a lower deposit and normally includes tracker and insurance. Installment takeover can have a variable term depending on how long the finance on the car is still due. Insurance, tracker etc could be extra for your account
What is included in the monthly installment ?
Rent to Own vehicle payments include rental, tracker and insurance. Some Rent to Own vehicles also comes with a maintenance assistance.
What happens if I can no longer afford the car or I don't need it anymore ?
A Rent to Own vehcile can be handed back withour any penalties