Perils of cashing in on your car
Plan may offer quick fix but ultimately leave you worse off
If you're cash-strapped and need a lump sum in a hurry, you may be able to sell your car and then lease it back for less than what it would cost you to hire a car. When your finances improve, you can buy back your car for the amount you sold it for.
DriveAwaySA's offering is timely, with many people facing a reduced income as a result of the lockdown. And it will be especially appealing to consumers with impaired credit reports, because it's not a loan and therefore doesn't require credit checks or regular repayments...