A Guide to Finding the Best Rent to Own Car

rent to own carsShould you lease a car or should you rent to own your vehicle? Both of the options have some advantages but rent to own cars are becoming increasingly popular.

Renting a car is connected to a lower down payment and relatively affordable monthly installments. What do you need to know about renting to own a vehicle and how does it work?

Shop Around
Many Australian companies deal with rent to own vehicles. Going through their websites will give you some more information about the available models and the rent to own conditions.

Take a look at the prices and the approval specifications. Most of the rent to own vehicle companies will refrain from performing a background check. Individuals that have a bad credit score that fail on getting a bad credit car loan, people that have just arrived in Australia and unemployed individuals can easily get approval.

How much does a rent to own car cost? Not as much as you’d think.
Some vehicle rent to own companies have no interest rate on the repayments, which is a great possibility to look for. Most companies will ask you for an initial deposit. The amount will determine the specifics of the rent to own cars that will be available for you to choose among.

The rent to own or rent to buy contract should specify the monthly installments and the amount of time that would be needed for the vehicle full title to be passed to you. Most Australian rent to own companies will provide the cars for a rent period ranging from 18 to 36 months. The weekly payment will be dependent on the duration of the agreement.

Simplicity of Application
There is a difference between renting and leasing a car. The rental application procedure is much simpler and connected to no background checks involving your financial status and income sources.

Good Australian rent to own companies provide online application options. You will be asked to provide information about yourself, your address and your currently available source of income. You will also have to specify the amount of initial deposit, the weekly repayment you can afford and the type of vehicle that you are interested in.

Upon receiving your application, the rent to own cars company will get in touch with you and arrange an appointment. You will be asked to bring the deposit, in order to get the car keys.

Additional Features to Look for
Acquaint yourself with the late payment fees. It is possible for something to go wrong, so you should have an idea about the additional charge you will have to pay, if your weekly installment is late.

When examining rent to own offers, pay attention to the availability of additional benefits. Some companies will provide free 12-month warranty or vehicle insurance for you to enjoy.

Getting a rent to own vehicle is a great opportunity for people that have a bad credit score, for immigrants or individuals that have been refused a bank loan for your car. The service is gaining popularity and various companies offer rent to own automobiles.

Compare offers and pick the one that has the best financial parameters and the biggest number of additional benefits.

Article written by Damian Roberton