RentaDeal

Most South Africans, once they have found their ideal motor vehicle, will apply for vehicle finance with their local bank. If successful, the bank pays the dealership for the vehicle and you pay-off the Finance Loan over 5 years with a reasonable interest or profit paid to the bank.

Once you have paid for the car in full, you are the full title holder and owner. This has worked with reasonable success for many decades, however times have changed.

Being approved and being seen as credit worthy by the banks is becoming more and more difficult.

This growing problem of less people being approved, yet more and more people requiring vehicles has reached a ‘tipping point’.

A tipping point is defined as “a series of small changes or events that collectively become significant, causing a critical, larger shift and change in direction.”