Car Finance for SME’s and Start Up Companies

SA Motor Lease offers an alternative solution for small and medium enterprises (SME’s) and start-up companies, who need vehicles to grow their businesses. The rent to own option is very similar to finance in that you can become the owner of a vehicle over time by making on time payments each month.

Most banks will not extend vehicle finance to recently established businesses and require a minimum of 6 months bank statements and usually 2 years of audited financials before they would consider vehicle finance.

SA Motor Lease will consider recently established companies or SME’s for their lease to buy scheme so long as they have a steady income flow from their existing client base and disposable income at the end of the month. New companies also need to be able to pay the upfront deposit and the first month’s rental at the start of the contract. At SA Motor Lease we see start-up companies and SME’s as key to growing the South African economy and creating much needed jobs, for this reason we are more than happy to provide our solution for vehicle finance to small and medium enterprises and newly established companies.

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Vehicles and Prices

The list of vehicles available and the deposit amounts are available on this website, you can see the approximate prices etc. Generally the deposit is about R12 000.00 and the monthly rental is about R4,500 per month. If this suits your pocket, you can then proceed. When you deal with us, you also get our insurance, tracking, roadside assistance and licensing included, so you don’t get extra costs. When comparing to what a bank would charge, it is important that you take account of the fact that usually rent to own is over a shorter period, so you save in that way. We do allow you to significantly decrease the monthly payments by paying a higher deposit.

The Advantage of Leasing Through SA Motor Lease – Its Risk Free

It’s a fact that many start-up businesses change strategies or close down within the first two year of operation. With SA Motor Lease you will never have negative equity in your vehicle so if your business no longer needs the vehicle after a year, you will not be stuck with onerous guarantees, with SA Motor, you get to return your vehicle anytime, and we take the risk on the residual value.

The options are affordable and much cheaper than renting a vehicle, for instance, a Chev UTE bakkie can be leased for a fraction of the price of rental, it is R12 000 deposit and R5 800 per month including insurance, licensing and tracking for a bakkie including Canopy. This is perfect for deliveries. Renting this vehicle would be very expensive, rather lease it!

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Application Process

The best way to go about getting a vehicle is to get approved first and then to pick a vehicle, unfortunately by the time that you have been approved the vehicle will probably be gone, so if you are first approved, then you can get the vehicle you want on the spot.

At SA Motor Lease we know that each business has different requirements when it comes to the type of vehicle you need to grow your young company, if you are willing to wait a few weeks, you can put in a specific request and we will source the car you want, for you. In this case you will need to pay the deposit upfront while we source you your vehicle. Please note that certain vehicles are too difficult to source, but 85% of requests we can fulfil. While we are busy we will provide you with a suitable rental car at a reasonable price.

One of the big advantages of using SA Motor Lease is that we do not charge exit fees when you want to cancel your contract with us. No doubt rent to own is more expensive than a bank, but the advantage of using SA Motor Lease is that when you have grown your business to the requirements needed to get traditional vehicle finance, you can settle us for the vehicle, and refinance it through the banks where you can choose to finance your vehicle over a longer period. So with SA Motor Lease you only pay the higher price while you grow your newly established business.

Can I Still Get a Vehicle if I Don’t Have the Deposit?

We have a special deal with our parent company, Pace Car Rental, which has a wide range of specials on rental cars, and will be able to assist you with a reasonably priced rental car while you are saving up for your deposit. The Pace Car rentals start from as little as R4,500 per month depending on your free kilometer requirements for your monthly car rental. For car rental with Pace you need the rental and a R3,400 deposit up front, so usually R7,900 is the up front payment.

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