"Rent to own" worth it?

[kolaval]

a bunch of people I know are looking for or busy installing solar solutions.
Google knows everything so this add popped up and got me curious.
Is it worth it?

FYI:
I do not know what the payment would be after 7 years of rental.
I do not know if the system is sufficient or even good.


Personal loan @ R220k (one of the quotes I saw) is R5k pm repayment now.


this rental is about the same:

 

[NeonNinja]

Ramaphosa is making plans to end load shedding at once!

 

[AntennaMan]

a bunch of people I know are looking for or busy installing solar solutions.
Google knows everything so this add popped up and got me curious.
Is it worth it?

FYI:
I do not know what the payment would be after 7 years of rental.
I do not know if the system is sufficient or even good.


Personal loan @ R220k (one of the quotes I saw) is R5k pm repayment now.
View attachment 1348422

this rental is about the same:
View attachment 1348424

Taking out a personal loan to finance solar, at 17%,is madness. Take out a further bond if you have to, yes, the bond registration cost is R30k, but you'll be paying 10%,or whatever your bond interest rate is. Over 10-15 years, it will be much cheaper.

 

[WAslayer]

a bunch of people I know are looking for or busy installing solar solutions.
Google knows everything so this add popped up and got me curious.
Is it worth it?

FYI:
I do not know what the payment would be after 7 years of rental.
I do not know if the system is sufficient or even good.


Personal loan @ R220k (one of the quotes I saw) is R5k pm repayment now.
View attachment 1348422

this rental is about the same:
View attachment 1348424

Look at that annual escalation percentage.. that's the annual increase in the monthly installment for rent to own..

There is no such escalation with the personal loan.. it's not worth it to rent to own.. if you cannot finance through available funds in your bond, or wait until you have saved the amount in cash, personal loan is better, if you get a FAR lower interest rate than that...

 

[Mike Hoxbig]

Financed mine through SA at a fixed 11.5% over 5 years, so no escalation. Works out to pretty much the same as buying a cheap car...

 

[TedLasso]

Yikes. I just took it all out of the homeloan. Definitely cheaper interest rate - should hopefully 'recover / repay' that principal withdrawal cost within 10 months' from extra savings from Salaries going back to the HL

 

[kolaval]

Just to be clear, im not planning on buying a system. I just searched for a comparison.