How has Covid19 Impacted the Rent to Buy Market?

We began hearing inklings of a pandemic about to hit South African shores at the beginning of 2020, but no one could have predicted the huge impact it would have on the country and the South African people.

Apart from the serious physical and medical havoc the Coronavirus pandemic has wreaked on every South African, it has had a far-reaching economic impact on just about every kind of business too. From small entrepreneurs to large corporations, every single business in SA has felt the impact of Covid19.

However, there have also been many positives experienced by individuals and businesses alike in the past year and a half. As always, in true South African style, we find a way to turn a negative situation into an opportunity. Here’s how we’ve done it at Future Motor Lease.

Losing car finance could mean losing your job

When the pandemic hit, many people found themselves without a job, being retrenched, or having their income severely reduced. This meant that many people found themselves in the very serious state of not being able to pay their debt, which included not being able to pay the monthly instalments on financed vehicles.

For many, having a vehicle means having transport to work, or using the car for work purposes and if that car is lost or repossessed due to non-payment of finance, it could mean a lost job too.

Future Motor Lease to the rescue

At Future Motor Lease, we saw an opportunity to help people in need during the darkest days of the pandemic. We were able to offer people in this predicament a Rent to Buy option, allowing them to rent a car with minimal monthly instalments each month with the option of owning it once the rental period was up; no questions asked, no tedious financial administration, no hoops, no fuss.

Even for those that were blacklisted during the pandemic have been able to enter in a Rent to Buy contract with us and make sure they have the transport they need for their business and family.

For more information on rent to own contracts, chat to the experts at Future Motor Lease now or call us on 011 026 0003.