Advantages of a Rent-to-Own Car Plan
The decision to get a vehicle for your growing family or day-to-day use is a big one that equals extra responsibility. Besides housing, utilities and food, paying for a car is one of the most significant expenses individuals and families incur.
If you’re looking for a reliable vehicle, there are alternatives to buying outright or using traditional car finance. Depending on your circumstances and budget, a rent-to-own arrangement may be an option worth considering.
What is a rent-to-own car plan?
A rent-to-own car plan is a vehicle arrangement where customers make regular payments for use of a vehicle over an agreed term. The structure, inclusions and end-of-term arrangements vary between providers, so it’s important to review the agreement carefully before signing.
Before deciding on any particular plan we recommend you do your research and read the terms and conditions, privacy policies and FAQs. Evaluate your personal needs first before you decide if a rent-to-own plan is the right fit for you.
To help you make a decision here are some of the advantages of a rent-to-own plan with CarCoop:
1. No credit checks required
CarCoop does not require credit checks, providing an alternative for eligible customers, including those with credit challenges. We assess whether you can afford to make the weekly, fortnightly or monthly payments and make our decision based on this information.
2. Predictable Regular Payments
CarCoop offers regular payments that include vehicle-related costs such as registration, insurance, roadside assistance and scheduled servicing, subject to the terms of the agreement. Having key vehicle costs included in regular payments can make ongoing expenses easier to manage and budget for.
3. Clear End-of-Term Arrangements
CarCoop customers use the vehicle under an agreed lease arrangement for the specified term. Customers do not automatically own the vehicle when the lease term ends. Any potential transfer of vehicle ownership is subject to CarCoop’s discretion and approval and is not guaranteed. Review your agreement carefully to understand the applicable end-of-term conditions.
If you’re leaning towards getting a rent-to-own vehicle consider CarCoop for all of your rent-to-own car requirements.
Enquire or pre-qualify for a rent-to-own vehicle today!
