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TO BE THE LARGEST PROVIDER IN SOUTH AFRICA OF RENT TO OWN CARS.
TYPICAL RENT TO OWN OPERATORS RUN A SMALL FLEET OF OLDER CARS AND DON’T TREAT CUSTOMERS FAIRLY
HOW DOES IT WORK
SELECT A CAR
Choose the car you want from the selection available.
Send MADRENT your details and they will contact you to complete the process. You can also email them the following information and documentation to firstname.lastname@example.org:
1. What car or Mad Deal you are interested in
2. ID document
3. Drivers licence
4. 3 months payslips
5. 3 months bank statements
6. Proof of address less than 3 months old
We process the information and documentation and communicate with you about your Mad Deal.
DRIVE YOUR NEW CAR
What you get:
What you pay:
END OF MAD DEAL
What is Rent to Own
A rent to own or rent to buy agreement is very simply just renting a vehicle on a monthly basis per agreed upon contract. This is instead of financing it through a financier.
In this agreement, you will usually pay an agreed minimum deposit or percentage of the car's value. This will be followed by fixed monthly finance instalments (or rent) which effectively results in hiring the vehicle until the final amount has been paid. There is no interest applicable and these companies usually only cover lower end vehicles due to the risky nature of the business.
At the end of the period, you can purchase the car or you can also get your car sooner by requesting a settlement amount.
So, what do you actually get out of it?
You get a set of wheels without all the red tape included in usually getting a vehicle. Most competent rent to own or rent to buy deals will include comprehensive vehicle insurance, tracking, roadside assistance, and car maintenance for the contract period.
At the end of the agreement, you can usually buy your rental car at a predetermined value. You can also do this earlier by getting a settlement quote. If you don't have capital available, you can either finance the purchase or just get a new rent to own deal!
How does it work
Usually, you will select your vehicle and complete an online application
The dealer will process the application and get in touch to secure a deal
You will complete a contract, pay the deposit or setup fee and get your car
What do you need to apply?
Pros of rent to own or rent to buy
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