In short, we eliminate the need to use credit, loans, pawn or title loans for your cash needs. The solution we offer you for this is “sell your car and keep using your own car as a rental”.
Of course you may not want to use this model. In this case, for example, you can take out a loan for your cash needs.
Let’s say your car is worth $10,000. In the most optimistic case, the annual cost of your car from taxes, insurance, maintenance and depreciation would be $2,400 and so the average monthly cost would be about $200.
Now, let’s assume you need $10,000 in cash and you take out a $10,000 loan. If you pay it back in monthly installments over 36 months without interest, for example, you will only pay around $300 per month in principal. However, the monthly cost of your car was already $200. When you add the $300 loan payment to that, the total comes to $500.
If you had sold your car and continued to use it for a monthly rental of $350, the monthly difference would have been $150. That’s a savings of $1,800 per year and $5,400 over three years. In short, saving $5,400 on a $10,000 lease means avoiding an extra cost equal to 54% of the value of your car.
With this method, not only can you continue to drive the car, but you also have no costs associated with taxes, insurance, maintenance and other expenses.
And the real value we offer goes beyond that. With the service you receive through OWNTIC, at the end of the rental period, you return the car to the rental company and that’s it. There is no re-buying the car and no returning the money.
You can also return the car during the rental period, as long as you ask for it in the rental agreement. Moreover, if you are unable to pay the rent during the rental period, we make the payment on your behalf and do not take it back from you. Again, during the rental period, we secure your rights with the “Legal Protection” protocol.
