Whatshot
In Need of New Wheels? Freedom Motoring Solution is Here to Help
In Need of New Wheels? Freedom Motoring Solution is Here to Help
Date: 2015-07-24
One day, a client directed Ronel to Grant Pringle who has just started a business, Freedom Motoring Solutions, based on assisting business owners who are struggling to get a bank loan to buy their own vehicle.
Speaking to Grant Pringle at his offices in Umhlanga, he is confident that his business model will work for his clients, "Ronel was the unfortunate victim of a financial scam some time ago, as a result of which her credit history was undeservedly impaired." Grant told me, "As a professional gardener needing a commercial vehicle to carry out her work and unable to get credit from conventional sources to finance one, she ended up having to rent a bakkie at an extortionate rate (up to R10,000 per month). These high costs were eating into her profits and inhibiting her plans to expand."
Grant's rental model worked for Ronel, the monthly costs are significantly less than she was paying and she can work within their monthly mileage limit of 4,000 kms per month.
"We provided Ronel with a brand new Nissan NP300 and she is now taking the savings she is making each month and investing them, so that at the end of the 24 month term she will be able to purchase the vehicle outright from us and possibly rent another vehicle to be able to employ more staff."
Ronel is now looking after sixty-two gardens in the Ballito area. She employs four people and has been shortlisted for the iLember Chamber of Commerse Small Business Awards.
"We based our decision to rent to Ronel on our financial due diligence, which included looking at her business bank statements, verifying that she was cash flow positive and getting verbal character references from some of her customers."
If you are looking for a new vehicle but just cannot get the finance, call Grant on 073 657 2400.