Rent To Own Cars
The New Altenative to Car Finance is Rent To Own a Car
Purchasing a Rent to Own Car
Sometimes it can get really hard to purchase anything when you end up with a really bad credit history with your bank. And it can get even nastier when you find yourself on the blacklist of any bank’s credit and loan lists; you will never be approved for any loan, credit card or financial aid until you are able to settle the debts and financial agreements with your bank. How are you going to purchase a car to get you around from home to work and around town for your groceries and other necessities if you haven’t the credit records to qualify for a car loan? The solution therein lies with rent to own cars.
Our way of buying a car have become the heaven-sent financial solution for a lot of people especially when they have turned to banks just to find their application denied or when they have gotten so low on the bank records that they now find themselves on the credit and loan blacklist. One way to get out of the vicious circle is to turn to a debt consolidation loan specifically designed for blacklisted accounts. You can pool all your debts into one account and pay them off with a low interest rate so that you can repair your credit history. Unfortunately though by the time you are done you may be on your knees since you’ve been depending on others to get you around. Our new program will be your ticket to handling your debt consolidation payments while granting you a car to use in the process.
The solution is simple because in these terms your credit is no longer taken into account as seriously as it would when you apply for a loan or a credit card. Here is how it works. You will pay a small down payment for the vehicle of your choice and then you will agree for a long term or short term payment plan. Usually these payment plans last from forty eight months to fifty four months, depending on how much you agree to pay on a regular basis. Payments are usually every month. The means of splitting the payment as you rent the car under their name allows you to break the total purchasing amount into smaller pieces. The title of the car and complete ownership transfers to you when the full payment has been completed.
The requirement for to buy a car is not that hard to complete either. You will basically just have to fill up an application form, give them proof of your monthly income and a reference to past credit. You will not need to worry about being blacklisted because they will only look into your credit for historical records and not to weigh in approval for a rent to own car plan. Of course you will need to provide a driver’s license, proof of residence and proof of legal age.
There are some precautions that you need to look into to make sure that you aren’t falling into a scam however. Some rent to own cars are dealt by merchants who fool around with the agreement terms and like to add some phrases and words that are well masked and disguised so you don’t notice them immediately. They like to cheat their way to make you pay more and lose your end of the deal while they keep earning cash through your payments and your losses.
Here is a quick rundown of the things you’ll need to look into:
First always make sure that there are no additional phrases that will force you to get insurance for the car through the dealer and only through the dealer alone. When the dealer forces you to get car insurance through their company they usually have a means of raising the financial risks on your end and you may end up with another pile of bills you cannot pay. Some will state that even if you pay for the car as your rent it but fail to pay your insurance, you will lose the deal for the car and never get the title.
This leads to the second note you need to look into: always look for the line that could detail how the agreement could be terminated and how you could possibly lose the probability to own the car. Sometimes there is a small line that explains if you fail to miss one to three consecutive payments on the car, you won’t be able to own it even if you are able to pay the debt the following week or month. Look out for these little lines since they could ruin months of payments and savings.
Also consider the actual price of the car. Add up the down payment and all the weekly payments you’ll make and then compare the sum to the actual market price of the car. Some dealers cheat the system and try to make it look like a good deal by offering a really cheap weekly payment but when you consider how long you’ll be paying, you might be buying the car 30% over the actual market price. Also you have to have a wary eye on the damages and possible repair costs. The car might come with a reasonable price but you might lose out a lot of cash by spending on the repairs. A good damage and repair history report on the car before striking out a deal is always a taste of good measure.
Even with the worst credit history all is not lost. You may have some worries to handle with and you will have to go through some legal procedures to remove the blacklist judgment off your records but even in this state of financial burdens you are not entirely lost to the possibilities of owning and using a decent car. There is now a viable option to turn to. This new alternative to car finance have become the best solution for those without the ability to take a loan and is also a good way for young adults without much credit history or those who earn through cash payrolls to get a car.
Example of one of our previous car on offer. Many more on offer: