As part of the Fincheck Vehicle Finance education series, we're taking a moment to give people some perspective on the small things they end up paying big for. If you think the recent increases in fuel prices result in your most expensive tank of fuel ever, you're mistaken.
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.
Will you need vehicle insurance when you are financing a car?South Africa does not have legislation requiring car owners to take out insurance. Therefore, it is not compulsory for people who buy their cars cash. It is, however, compulsory if you are financing your car. The financial institution who finances your vehicle will either insure the car themselves (at your expense) or require proof of insurance.
We recently launched our **VEHICLE FINANCE product page** to help people all over South Africa make a better vehicle finance decision! In the next few weeks, we're going to give you the full low-down on all things vehicle finance, so stay tuned for more after this article.
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Fincheck gathers information from numerous banking partners and presents it to the borrower in a simple, understandable way. Lenders benefit from an additional market place and extensive customer reach. Loan amounts vary from lender to lender. Fees, interest rates, loan amounts and credit scores influence the repayment terms. Lenders require personal details to control their risk and assist the government to combat theft, money laundering, terrorism. Fincheck does not endorse any particular product or company. We are an independent company. The information shown and provided is an opinion, based on numbers and must not be seen as advice or consultation.
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