Vehicle owners can eliminate the need for cash or using credit for amounts up to the value of their car. They do this by renting their own vehicle, then continue using it. This way, they avoid costs such as insurance, taxes, and maintenance, and prevent losses from depreciation. Instead of incurring these expenses, the owner sells their car and gets the cash value upfront without needing a loan.
Without this option, they’d have to cover insurance, taxes, maintenance, and depreciation, doubling their budget cost due to monthly loan payments. Here’s where we step in. The vehicle owner continues using their car on a lease and returns it to the rental company at the end of the rental term. They can also return it during the term if they anticipate being unable to fulfill payments, as specified in the rental agreement.
Additionally, if they continue to use the vehicle but can’t pay the lease, Owntic covers the rental payment and doesn’t take this fee back. Leveraging over a decade of industry experience, we’ve scrutinized tens of thousands of reviews on platforms like Trustpilot concerning car rental companies. Our goal is to resolve these issues. We noticed disputes arising between parties despite not being explicitly stated in the rental contracts, leaving the renter at a disadvantage and tarnishing the lessor’s reputation unnecessarily.
Consequently, we’ve addressed these problems, eliminating uncertainties that could compromise trust and quality in rental agreements. This agreement is also an integral part of the Owntic.com user agreement too.
