How to Rent-to-Own a Car with Bad Credit?
Companies in Australia offer different car ownership and finance options. It is a booming industry that is definitely gaining momentum. One division of the car finance industry is the rent-to-own car market. If you feel the need to get a car, but you are worried about bad credit, then a rent-to-own car could be the solution you’ve been looking for.
Why rent-to-own car companies don’t require credit checks?
The rent-to-own market allows people to get a car without requiring a credit check. Unlike car leasing and car loans, it is much easier to qualify for a rent-to-own car ownership plan. You only have to submit a few necessary requirements such as proof of identity, residence, and proof of income. If the affordability is there, chances are you will be offered a rent-to-own agreement.
One of the downfalls of the traditional car finance industry is that they only finance newer cars which come with a higher price tag and a longer contract term. Many customers begin to miss payments around the 2-year point and often have the car repossessed due to their inability to maintain 5 years of payments. 5 years is, after all, a big commitment.
To reduce the “failure to pay” rate CarCoop offers a relatively short 2-year agreement. At the end of the agreement, you will have the option to return, upgrade, or own the car.
How to rent-to-own a car with bad credit?
Getting a car with a bad credit history can be difficult. Car loan and finance companies may reject your application and it can be hard to find someone who will reconsider.
CarCoop understands what credit-challenged individuals are going through so we focus on helping them. We provide low deposit, packaged solutions which include roadside assistance, registration, insurance, and servicing.
Our rent-to-own car plans require no credit checks so everyone has a chance to own a car.Enquire Now Pre-qualify in 60 Sec