What is the minimum salary for Planet42?
You must be a paid employee with a minimum monthly income of R6500. If you do not meet this requirement, you won’t be able to qualify for car finance.
Who is the owner of Planet42?
Planet42 was founded in South Africa in 2017 by Eerik Oja and Marten Orgna. Having previously fallen in love with the country, the co-founders raised capital in their native Estonia to launch a rent-to-buy car business in South Africa.
How does Planet42 work South Africa?
With your application approved, we buy the car of your choice from the dealership and then rent it to you on a subscription basis. Your monthly flat payment covers the rental as well as comprehensive insurance, GPS tracker and VAT.
How does rent to own car work?
With a rent-to-own program, you do not initially own the vehicle. Instead, a portion of your payments go toward the cost of the car. With a subprime loan, you receive funds from the bank to use to buy the car. Then you own the car and make regular payments toward repaying the loan.
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