Is Rent to Buy a Scam?

The misconception out there for many willing customers is that rent to buy vehicle companies are scamsters. We acknowledge that there are many “sharks” out there, circling the waters, offering invalid or illegal services when it comes to rent to buy vehicle options, however at Future Motor Lease, we can proudly boast that we are not one of them. We have been in the industry for many years and we have a name that is synonymous with trust, leaving a trail of happy customers wherever we do business.

We have put together a list of tips to ensure that the rent to buy contract and company you are looking into partnering with is not a scam. Follow these tips and you will soon find out if you are dealing with a fraud or a friend.

Tip #1 – Always check the reviews of the company.

Whether you are looking on Facebook or Hello Peter, be sure to do your homework on the company you are looking at using before you sign on the dotted line. Check out comments from other customers and make sure they are favourable. Ask community groups friends and family if anyone has used the company before and what their experience has been like.

Tip #2 – Ask for the vehicle registration papers.

There are too many horror stories out there about rent to buy companies renting out cars that are illegally obtained or stolen and do not come with registration papers. If you have seen a vehicle that you like and that suits your needs through the rent to buy company, ask to see the vehicle registration papers upfront to make sure they car type matches the papers.

Tip #3 – Request the service history.

Any reputable rent to buy vehicle company worth their salt, will have a service history on the cars they offer. You have every right to ask to see the service history of the car you interested in to make sure it has been serviced at regular intervals as it should have been.

Tip #4 – Take a test drive.

Often, scammers like to operate in the shadows and over the world-wide web and never really show you their face or the car for that matter before you sign up. Never sign a contract for a rent to buy vehicle if you have not met someone from the company face-to-face, seen the vehicle and been able to inspect it, and finally, taken it for a test drive to make sure it drives as beautifully as they promise it does.

Tip #5 – Know every detail of your contract.

We always recommend going through your rent to buy vehicle contract with a fine-tooth comb before signing anything. Make sure you understand every clause and are in agreements with them. If you do not understand something or are not sure of something, a good company will gladly explain in detail what you need to understand. If you are still not sure, get a friend or family member you trust to look at the contract and help you understand in detail what you are signing.

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.