Planet24 Rent-to-Buy Reviews: Providing Access to Personal Mobility

Personal mobility is often taken for granted in developed countries, where public transportation is widespread and banks offer a variety of vehicle finance options. Unfortunately, the situation is completely different in many emerging economies, where getting from point A to point B can be a significant challenge. In countries like South Africa, public transport can be slow, unreliable, and sometimes dangerous, especially for women. To address this problem, startups like Planet24 are providing a unique solution – a rent-to-buy model that enables people to have access to personal mobility.

What is Planet24?

Planet24 is a South African mobility startup that provides cars to people who are unfairly ignored by banks. The company buys second-hand cars from dealerships and rents them to customers on a subscription basis. The monthly subscription payment includes comprehensive insurance, GPS tracking, and a motor warranty, making it a convenient and hassle-free solution for customers who want to have access to personal mobility.

How Does Planet24 Work?

Prospective customers can apply for a car subscription online at the Planet24 website or at a dealership that has partnered with the company. Planet24 uses a proprietary algorithm to assess the risk level of each applicant in just one minute, which enables the company to approve significantly more applications than traditional banks. Once approved, customers can choose a car from the dealership, and Planet24 buys it for them.

Unlike traditional vehicle finance options, Planet24’s monthly subscription payment includes all the costs associated with car ownership, including insurance, tracking, and motor warranty. Customers can return the car at any time after six months or buy it out if they choose to keep it.

What Are Customers Saying About Planet24?

Planet24 has received positive reviews from many customers who appreciate the simplicity and flexibility of the rent-to-buy model. Customers have praised the company for providing them with access to personal mobility, which has enabled them to take advantage of employment and educational opportunities that were previously out of reach. Here are some examples of the positive reviews that Planet24 has received:

“I was struggling to get finance for a car, and then I found Planet24. The process was quick and easy, and I was able to get a car in no time. I love the flexibility of the rent-to-buy model, and the fact that everything is included in the monthly payment makes it so convenient.” – Thando M.

“I never thought I would be able to afford a car, but Planet24 made it possible. The monthly payment is affordable, and I appreciate the fact that I can return the car if I need to. The customer service is excellent, and I feel like I’m part of a community.” – Sipho D.

“I needed a car to get to work, but I couldn’t get finance from the bank. Planet24 came to the rescue! The process was so easy, and the staff were so friendly and helpful. I would recommend Planet24 to anyone who needs a car but can’t get finance from the bank.” – Ntombi M.

Conclusion

Planet24 is making a difference in the lives of many South Africans by providing them with access to personal mobility. The rent-to-buy model is an innovative solution that enables people to have the freedom of having a car without the burden of traditional vehicle finance. With positive reviews from satisfied customers, Planet24 is making a name for itself in the South African mobility market. If you’re looking for a convenient and affordable way to have access to personal mobility, Planet24 is definitely worth considering.

Summary

Planet42 is a mobility startup that fights transport inequality by providing cars to people who are unfairly ignored by banks. This startup, which operates in South Africa, buys second-hand cars from dealerships and rents them to customers on a subscription basis. With a simple and fast application process, Planet42 has been able to give thousands of South Africans the freedom of having a car.

In many parts of the world, a car is seen as the ultimate symbol of freedom. However, in emerging economies, getting from point A to B can be a challenge due to unreliable and sometimes dangerous public transport. This is especially true in South Africa, where public transport is slow and unreliable, and women often face danger. Despite this, banks persist in rejecting most vehicle finance applications, leaving many people without access to reliable transportation.

This is where Planet42 steps in. By building a socially inclusive car subscription product, Planet42 is giving people who are earning an income but are still ignored by banks a chance to drive a car that they can ultimately own. With a proprietary algorithm that assesses risk level in just one minute, Planet42 is able to approve significantly more applications than banks can.

The monthly subscription payment includes comprehensive insurance, GPS tracking, and motor warranty, making it a hassle-free experience for customers. Additionally, the customer can return the car at any time after six months or buy it out. This flexibility and simplicity of the car subscription model has been well-received by customers, and to date, Planet42 has purchased and delivered 3,000 second-hand cars and signed up over 400 dealers across South Africa.

But Planet42 is not just about providing cars. It is also about making a social impact. Personal mobility is often taken for granted in developed countries, where public transport is at a level where many choose not to have a car at all. However, in countries like South Africa, access to employment and educational opportunities is severely restricted without a personal car. This “mobility gap” creates transport inequality and inhibits financial inclusion.

By giving people access to reliable transportation, Planet42 is breaking this vicious cycle. A personal car can open up new employment and educational opportunities that were previously out of reach. This can lead to a better quality of life and ultimately greater financial inclusion.

The founders of Planet42, Eerik Oja and Marten Orgna, saw an opportunity to make a difference in the world and launched the startup in 2017. It took them nine months to buy the first car for their first customer, spending most of the time setting up their IT infrastructure and convincing local businesses like tracking companies and insurance providers that they were serious about buying second-hand cars for people that banks deem “blacklisted”.

Since then, Planet42 has grown rapidly and has received significant backing from investors. In 2020, the startup raised $10 million in funding, which will be used to expand its operations in South Africa and potentially other emerging markets.

In conclusion, Planet42 is a mobility startup that is making a social impact by providing access to reliable transportation to people who are unfairly ignored by banks. With a simple and fast application process, a monthly subscription that includes comprehensive insurance, GPS tracking, and motor warranty, and the flexibility to return the car at any time after six months or buy it out, Planet42 is making car ownership accessible to thousands of South Africans. By breaking the vicious cycle of transport inequality and promoting financial inclusion, Planet42 is not just providing cars, but also opening up new opportunities and improving lives.