Being under debt review is a responsible step towards getting your finances back on track, but it can feel like it closes every door at once. Many South Africans under debt review assume a car is completely off the table until their review is finished. That’s not necessarily the case. Here’s what debt review actually restricts, and where rent-to-own fits into the picture.
What Debt Review Actually Restricts
The National Credit Act prevents credit providers from entering into a new credit agreement with someone under debt review, unless a court has granted an order allowing it, or your debt counsellor has issued a clearance certificate confirming your review is complete. This is what stops most people under debt review from getting approved for traditional bank car finance. It’s designed to protect you from taking on more debt while you’re working through your existing repayment plan.
Why Rent to Own Can Be Different
No Finance Cars’ rent-to-own programme is structured as a rental agreement, not a new credit agreement, which is why it’s an option many people under debt review turn to. You pay a fixed monthly rental for the use of the vehicle, with no interest and no balloon payment, and the car becomes yours once the agreed term is complete. Because of how debt review works and how individual circumstances differ, it’s worth speaking to your debt counsellor before signing anything, so they can confirm how a new rental fits alongside your existing repayment plan.
Traditional Car Finance
A new credit agreement, generally blocked while you’re under debt review unless a court order or clearance certificate is in place.
Rent to Own with NFC
A rental agreement with a fixed monthly premium. You drive the car during the term and it becomes yours once it’s complete.
What You’ll Need to Apply
Applying with NFC while under debt review follows the same process as any other application:
- Valid South African ID document
- Proof of address
- Proof of income — payslips if you’re employed, or 4 months’ bank statements showing turnover if you’re self-employed
- A valid South African driver’s licence
- A deposit, starting from R12,500 depending on the vehicle
A Few Things Worth Checking First
Talk to Your Debt Counsellor
Let them know you’re considering a rent-to-own agreement so they can confirm it works alongside your repayment plan.
Budget for the Monthly Premium
Make sure the fixed rental amount is comfortably affordable within your current budget, not just approved on paper.
Keep Your Paperwork Together
Having your ID, proof of address, and income documents ready in advance keeps your application moving quickly.
Debt review doesn’t have to mean putting your life on hold. With the right documentation, and a quick check-in with your debt counsellor, reliable transport can still be within reach.
Have Questions Before You Apply?
Our team can walk you through how rent-to-own works and what to bring, so you can apply with confidence.