According to the National Association of Automobile Manufacturers of SA (NAAMSA), sales of new cars in South Africa, reflected a substantial decline of 13.2%, compared to new cars sold in September last year.
In addition, 21.9% of the new cars, or more than 1 in every 5 new cars, were purchased by the car rental industry.
Passenger car sales made up 33 035 of the total, which reflected a 13.2 percent fall year-on-year, while light commercial sales held steady with a year-on-year growth of 0.3 percent.
This indicates that consumers are becoming increasingly cash-strapped due to the difficult economic climate, and simply cannot afford to replace their cars with new models as frequently as they had in the past.
With many drivers giving up hope, a rent-to-buy car company called MADrent, is trying to make car finance troubles a thing of the past – literally leaving despair and financing issues in the dust.
MADRent offers South Africans who have burnt their fingers on credit – and learnt their lesson- a much desired second chance.
Co-founder of MADRent, Mark Cohen explains, “We offer our customers new or nearly new cars from a variety of the top manufacturers on a 24 month ‘rent-to-buy’ lease, but with more benefits than a traditional ‘car purchase’; such as full insurance, warranties, service plans and nationwide tow services all included.We provide peace of mind in that we are backed by multiple national service providers to ensure that our customers never need to hassle with any issues while driving a MADrent vehicle.”
Thousands of South Africans have good jobs and sufficient cash flow, but still meet significant barriers and challenges when attempting to secure a car finance loan. On many occasions this is due to ICT or blacklisting problems.
Because of this, a growing number of cars owners are driving older cars which, if not regularly and properly maintained, may lead to increased incidents of breakdowns and repairs, which can carry their own dangers and high costs for consumers.
If there’s one thing that decent, hard-working South Africans are prepared to pay for – it’s their car. Seeing the disparity in the marketplace MADrent sought to provide a solution.
“MADrent offers people with a good income the chance to look forward to a new car that will help keep them productive and happy working South Africans.” concludes Denis Cohen, company co-founder.
MADrent launched in November 2014 and are enjoying the rewards of handing good-willed South Africans not only keys to a car, but keys to a better future.
For more information kindly contact Angelique on 011 482 1246 Email:[email protected]