What is a rent to own car?
A rent to own car loan is a type of car loan offered by rent to own car loan lenders in Australia, designed to enable people who do or may not qualify for a normal car loan through a bank, to get into a car sooner, using the rent to own car loan system.
Generally, if you have bad credit, a credit default, too many credit inquiries, missed loan payments, short term employment, no deposit, or some other form of credit issue, ie: ex bankrupt, then getting approved for a car loan through a bank, can be quite difficult. This is why a rent to own car loan was introduced.
Where do I buy the rent to own car from?
We allow you to buy the rent to own car from any registered car dealer in Australia. Once you have chosen your prefered rent to own car, we simply apply the rent to own car loan to the vehicle.
What is the rent to own car loan interest rate?
The rent to own car loan interest rates start at 7.95% p.a. Your rent to own car loan interest rate is determined by the car loan amount, car type, your credit report, your employment and residential history.
What is the rent to own car loan terms?
The rent to own car loan terms are between 1 -5 years, with repayments to be made either weekly, fortnightly or monthly. We make the loan terms and repayments to suit your own situation.
Do I need to be employed for a rent to own car loan?
No. You can receive centrelink benefits such as a pension, family assistance or a combination of both.
Can I still get a rent to own car loan with bad credit?
Yes. We will review your rent to own car loan application and determine what we can offer you. If you have more than 4 credit defaults, or pay day lender loan defaults unpaid, then it can be more difficult.
If I am an ex bankrupt, can I get a rent to own car?
Yes. So long as you have been good with your credit since being discharged from bankruptcy, we should be able to help you with a rent to own car loan.