What are the benefits of a Rent-to-Own plan?

    benefits of a Rent to own car payment plan
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    Are you a full-time Uber driver who is planning to be on the road upwards of 40 – 60 hours per week? Then Splend’s Rent-to-Own plan is a simple way you can work towards owning a brand new car.

    As a full-time Uber driver on the road for 40 – 60 hours per week, you may find yourself over the 1000 kilometre quota included in a Splend on a Rent-to-Own plan. In this instance, there is a small charge of $0.10 for every kilometre travelled over the 1000 kilometre quota.

    If you are planning to drive above the 1000 km quota every week, you must be thinking what you should do about the excess kilometre charge?

    The simple answer is this: you should be putting this excess kilometre charge towards owning your own vehicle. Splend’s Rent-to-Own plan was designed for individuals who would like to work towards owning their vehicle asset.

    On a Rent-to-Own plan, any excess kilometre charges you accrue are used to contribute to the end of your rental agreement (to a maximum of a 52-week reduction). That means the more kilometres you drive, the sooner you own your vehicle.

    What are some of the other benefits of a Rent-to-Own plan?

    • The weekly rental fee decreases by $50 every year. Therefore the longer you stay a Splend Member, the more profitable you become!
    • Unlike traditional finance, you are never locked in! There is a minimum rental period of six weeks, after which you can give your two weeks termination notice and hand your vehicle back. So if your life circumstances change dramatically, then you have the flexibility to adapt.
    • Your weekly rental fee is tax deductible. As a full-time Uber driver, your 12-week logbook could show that 95% of the time on the road is for your businesses as rideshare driver. That means 95% of your weekly rental fee can be claimed as an expense as well as items such as fuel, water, mints, mobile phone, cleaning, etc.
    • Unlike traditional finance, Splend lets you pause your payments to take a holiday – two weeks for every year you are with Splend! That’s some extra spending money for your holiday right there. Now just imagine if you could take a holiday from your mortgage or your bills…..
    • Every Splend Member has a dedicated Member Success Representative to help you maximise your profits and ratings driving for Uber. You will build a great relationship with this person over the journey 🙂
    • Your vehicle will receive the following replacement parts over your term: 3 front and rear wheel alignments, 12 replacement brake pads, 12 replacement brake discs, 9 replacement windscreen wiper blades, 2 replacement sets of replacement headlight globes and 1 replacement battery. It seems like Splend has covered everything.
    • Your vehicle will receive 12 new tyres over the life of your term.
    • Splend provides you with a replacement vehicle within 24 hours if your car is involved in an accident and you have paid the excess. The fact that there is no loss of earnings is vital for any rideshare driver!
    • If you ever breakdown or have an accident, relax, Splend provide 24/7 roadside assistance.
    • Your Compulsory Third Party insurance (CTP) and your Comprehensive Rideshare Insurance required to be an Uber driver are covered by Splend.
    • To ensure your car is safe for you, your family and your passengers, Splend vehicles receive regular servicing at the milestones determined by the manufacturer. They’ve already paid for it, so it’s in your best interest have your car maintained.
    • There are several other benefits of becoming a Splend Member. Click here to find out more.

    As you can see, the benefits and support provided by Splend’s Rent-to-Own plan make it a very attractive proposition for full-time Uber drivers.

    Rent-to-Own plans start at an $279 average weekly rental fee over four years. Click here to see the plans and pricing available.

    If you want to know more about Splend, give us a call on 1800 775 363.