Most South Africans have come across the term “rent to buy” in some way, shape and form as a consumer. Whether it is in terms of homes, furniture or vehicles, rent to buy is a simple concept that helps many people in South Africa own things with the option of owning them once the rental period is up, that traditional rental contracts don’t otherwise allow for.
Let us take a quick look at how popular rent to buy contracts are in SA, when they began and what we need to look out for when choosing a provider.
How long has rent to buy been around?
Rent to buy contracts for the renting of tangible assets like cars, furniture and electronics really took charge overseas in the 1950’s and took a little bit more time to hit SA shores after that. In the last 20 years, rent to buy vehicle contracts have become very popular in this country, especially for those who are struggling financially and have perhaps been blacklisted and can’t afford, or don’t qualify for traditional methods of vehicle financing.
To find out more about the history of rent to buy contracts, click below.
What to know when choosing a Rent to Buy Vehicle contract?
We have written numerous blogs on how to stay safe as a consumer when it comes to rent to buy contracts, but it is always worth mentioning when looking at informing people about what rent to buy is. Here are our top tips of what to know when choosing a rent to buy partner:
Tip #1 – Avoid Fly By Nights
Just because they are the cheapest does not mean they are the best. Always take a deep look into the validity of the company that is offering the rent to buy contract to make sure they are a reputable company and offer above-board vehicles to rent.
Tip #2 – Read the Fine Print
Always thoroughly read through the rent to buy contract you have been sent to make sure you understand every single point of fine print in the document.
To find out more about how to avoid a rent to buy scam, click below.
Why should I choose Future Motor Lease?
Future Motor Lease has been in the rent to buy Vehicle industry for many years and we have a long line of happy customers who are more than happy to let you know just exactly how well we do business. We pride ourselves in helping people that cannot get motor vehicle finance, get on the road behind a safe vehicle and enter into a good contract that benefits both them and us in order to rent a car before one day owning it.
For more information on rent to buy Vehicle contracts, chat to the experts at Future Motor Lease now or call us on 011 026 0003.