WheelFin forms part of Travelcape Travel Centre (Pty) Ltd and was established in Cape Town, in 2010 to provide unique, long term, car rental and financing options to clients who cannot get bank finance, who has been blacklisted, started a new job or does not have the credit worthiness to qualify for bank finance.
We work strictly work on affordability and on whether the client can afford the vehicle on a monthly basis. We do not do any credit checks and all decision are made on a case by case basis. Our mission is provide clients with reliable transport that will enable a client to become the owner of their own vehicle over a period of 60 months.
With our Rent to Own cars in Cape Town, we typically work on 30% of the clients’ net salary as an indicator of the monthly installment that the client would be able to afford. For example, if a client earns a net salary of R12,000 per month and can come up with the required upfront deposit, then the client will almost automatically qualify for one of our Rent to Own cars that has a monthly installment of R4,000 per month. The monthly installment includes all services, insurance, tracker and annual licencing.
Wheelfin has also recently introduced a new concept called “Rent your Own Car”. With “Rent your Own Car” a client can sell their existing vehicle to WheelFin at market value, and then to rent the same vehicle from WheelFin on a “Rent to Own” basis. For example, the client would sell their 2008 Polo to us for R70,000 and then rent the same vehicle from us over a period of 60 months. At the end of the rental term the renter will then become the legal owner of that same vehicle again. The client effectively uses their vehicle as security to get a large cash amount up front and still keep their vehicle as a means of transport in the process. As with our “Rent to Own” solution, “Rent your Own” also includes free servicing, insurance, anti-theft tracking device and annual licencing.
With WheelFin all decisions are made in-house and you will typically have an answer on whether you qualify for any of our offerings in 24 hours flat.
All we need is:
- An up-front deposit
- Recent proof of address
- Three salary slips or latest three months bank statements to verify that you can afford the monthly installment
- Your ID
- Valid drivers license
If everything checks out you can literally leave our office with you own “Rent to Own” vehicle in 30 min flat.
Both our “Rent to Own” and “Rent your Own” solutions include comprehensive insurance, services, vehicle tracking and annual vehicle licencing.