Over the past few years, more and more drivers in South Africa have turned to cost-effective alternatives to traditional car ownership models. One of the most popular alternatives is the rent-to-buy car subscription.
For those who have never heard about the rent-to-buy model, the landscape of car subscriptions may sound a bit daunting. From understanding the intricacies of the subscription model chosen to assessing personal needs and budget - there are several factors to consider.
At We Rent Cars, we offer an exceptional rent-to-buy subscription, with a wide range of benefits. We want to help change the landscape of car ownership and driving in South Africa, and the growth of our model continues to do just that.
Understanding the Rent-to-Buy Model
Before diving into the tips for first time rent-to-buy subscribers, it’s important that you have a clear understanding of what the ownership model entails, so that you can decide if it’s suitable for your driving needs.
A rent-to-buy car subscription is a service that allows a customer to rent a vehicle for a fixed monthly fee and a prescribed time period. The customer will then have the opportunity to outright purchase the car at the end of the subscription period.
These subscriptions normally come with a range of benefits for drivers. At We Rent Cars for example, when you subscribe to our rent-to-buy model, you’ll receive these important benefits:
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A tracking device
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Yearly licence renewal
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24h roadside assistance
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Comprehensive insurance
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Minor services every 10 000 km for 54 months.
6 Tips for First Time Rent-to-Buy Subscribers
The following practical tips will help you navigate your first rent-to-buy subscription successfully:
1. Assess Your Needs
Before you enter into a rent-to-buy car subscription, it’s important to gain a clear understanding of your personal needs and financial situation.
Consider the following factors before choosing a vehicle:
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Vehicle size: Determine the size of the vehicle that you need to best suit your lifestyle. For example, you don’t need a 4x4 if your only driving needs is delivering packages in an urban terrain.
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Usage Purpose: Think about how you will be using the vehicle - daily commuting, long road trips around the country, only occasional use? Your car usage patterns will influence the type of vehicle you need.
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Fuel Efficiency: Consider the fuel efficiency of a few different vehicle options. You may want a more fuel efficient car if you’re going to be driving long distances each and every day.
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Features and Amenities: Be sure to identify any important car features, like safety features, infotainment features, cargo space, that you’d like included in your ride.
2. Set a Realistic Budget:
Setting a realistic budget is also a critical step before entering into the rent-to-buy process. Here’s how to approach it:
1. Monthly Subscription Fees: Determine how much you can comfortably afford to pay per month to get your hands on the vehicle.
2. Initial Costs: Inquire about any initial deposits or down payments that need to be made in order to enter into the rent-to-buy contract. At We Rent Cars, there is no deposit needed when subscribing to our service!
3. Additional Costs: Consider the long-term savings that you may receive from having maintenance included in the rent-to-buy model chosen.
4. Financial Planning: Compare the total cost of the rent-to-buy model vs the cost of traditional car purchasing and financing.
3. Research and Compare Providers
Choosing the right rent-to-buy car subscription provider could be crucial to having a smooth and satisfying subscription experience. There are always several options available to customers, so it’s important to do a bit of research into which is the best provider for you.
First, compile a list of the different providers out there in South Africa. Then, compare their subscription plans to find the one that offers the best value and suits your specific requirements.
Compare things like the monthly subscription fees for certain vehicles at different providers, review contract terms, see the vehicle selection on hand, and consider the additional benefits offered.
Check out the expansive virtual showroom here at We Rent Cars - we’re sure to have the exact vehicle needed to suit your needs!
4. Inspecting and Test Driving a Vehicle
Before finalising any agreement to receive a vehicle, whether traditional or via a car subscription, inspecting and test driving the vehicle is a must. There are a few things you need to check up on before agreeing to rent and possibly make a purchase:
1. Exterior Condition: Check the outer body of the car for any signs of serious damage, and check that all the lights and signals are functioning properly.
2. Interior Condition: Check the interior for cleanliness and for any wear and tear. Look at the condition of the seats and dashboard, and be sure to check that all the safety belts are in working condition.
3. Tires and Wheels: Inspect the tires for tread depth and check for any evident damage to the wheels.
4. Engine and Fluids: Open the hood and inspect for any signs of leaks or corrosion.
5. Service History: Request the service history of the car before making a final decision - this will show you if the car has been properly maintained over the course of it’s lifespan.
5. Understand the Maintenance Benefits and Responsibilities
As explained above, at We Rent Cars, one of the main benefits of our rent-to-buy subscription is the inclusion of comprehensive insurance, minor services every 10 000km, and 24hr roadside assistance. These benefits should keep you on the road for a long period of time without issue.
However, not all car subscription providers will give you the same benefits, and some may even burden you with car care additional responsibilities.
Be sure you understand the responsibilities that you have to keep the car in good condition. Some of these responsibilities may include:
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Daily car care
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Cleanliness
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Driving habits
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Record keeping
Driving into Ownership with We Rent Cars
As you can see, there’s a lot that needs to be considered before entering into the right rent-to-buy car subscription. At We Rent Cars, we’re committed to making your journey to car ownership as seamless as possible.
With a wide range of vehicles, flexible plans that aren’t restricted by credit scores, and dedicated customer support, we have everything needed to help you drive into ownership with confidence!
Contact a We Rent Cars agent today!