If your car finance application has been declined due to bad credit, there’s still a way to get behind the wheel. A rent-to-own car agreement could be the perfect solution if you have poor credit history, limited savings, or non-traditional employment. Rent-to-own makes it easier to drive away in a car even when traditional lenders say no.

What is Rent-to-Own?

Rent-to-own is a means of owning a car that requires you to make regular payments over a set period of time before you can claim full legal ownership of the vehicle. It’s a flexible approach that makes it easier for you to drive the car while working towards ownership, without the need to pay a large upfront deposit or have a good credit history.

Why is Rent-to-Own Ideal for People with Bad Credit?

To be approved for a car loan, applicants need to show a strong history of making regular repayments on previous loans or credit. Unfortunately, many people take on debt believing they can easily manage the repayments, only to face unexpected changes in their circumstances that leave them struggling to pay off what they owe.

A poor credit history can make it hard to get approved for traditional car finance. However, bad credit car finance programs through rent-to-own are designed to be more accessible, with fewer credit checks and easier qualification requirements. This means even if you have bad credit, you can still secure a reliable vehicle. Plus, by making consistent payments, you can work towards improving your credit score over time.

How Rent-to-Own Works at RentBuyIt

Here’s a step-by-step breakdown of how the process works:

Step 1. Browse and Choose Your Car with your online enquiry
Start by browsing our wide selection of vehicles, which includes both brand-new and high-quality used cars. Whether you need a fuel-efficient hatchback, a large and spacious family car, or a sturdy ute, we’ve got something that will suit your budget and lifestyle. You can view available models online or contact our knowledgeable team, who will help you find the right vehicle. Get started with no commitment and no initial credit check. Simply express your interest and explore your rent-to-own car options.

Step 2. Submit Your Documents online
Provide basic documents like your ID, proof of income, and address. It’s quick and hassle-free through our online portal.

Step 3: Get Pre-Approved
A soft credit check (or zero-balance check) is done to meet responsible lending guidelines—no impact on your credit score at this stage. Once approved for your vehicle, you’ll pay a small upfront deposit to get started. The required initial financial investment is significantly lower than most traditional car finance options that require a larger payment.

Step 4. Make Easy, Fixed Payments
You’ll then make regular payments over a typical period of 5 years. What makes rent-to-own a great scheme is that you can easily budget, and you’ll know exactly what you will be required to pay, even before you sign the rent-to-own vehicle contract.

There are no hidden fees, and because you’re not applying for a traditional loan, your credit history isn’t a major barrier. Even if you have bad credit or no credit at all, you could still qualify.

5. Drive Now, Own Later
While you’re making payments, you get to drive and use the car to do your weekly grocery shopping, visit family, do road trips, and much more. Once you’ve finished your term and all payments have been made, including any relevant government or registration costs, you become the legal owner of the vehicle. At that point, the car is 100% yours.

Why Choose RentBuyIt?

RentBuyIt is committed to making car ownership accessible for everyone. We take time to understand what you need and your financial situation so we can get you on the road to vehicle ownership across major Australian cities including Melbourne, Brisbane, Adelaide, and the Gold Coast.

Here’s what some of our happy customers have said about our service:

“Travis and the team were amazing; it was a very simple process, and the support is superb. Their vehicles are immaculate, and I couldn’t be happier. I will use these guys again and highly recommend them.”

“Amazing Company! Easy and quick to deal with. Helped me get into my new car within 3 days. Con and Nadia could not be any more helpful with this process. They nearly brought me to tears when they emailed saying I was approved.”

If you’re looking to get on the road just like our valued customers, get in touch with us today to begin the application process.