Renting-to-Own – Putting You in Charge

Women-Torque is continually striving to partner with companies and organisations that share our goals of upliftment and empowerment; in this search, we have recently been fortunate enough to meet with a group of gentlemen who epitomise these ideals perfectly.

Mark Cohen, CEO of Mad Rent, hosted me together with Matt Symanowitz and Simon Sereko, at their premises in Randburg this past week. Sharing with me their journey – which started off some forty years ago as a used-car dealership – Mark and his team wowed me with practicality and relevance of the service Mad Rent offers. Mark’s father Denis started a used-car dealership in 1978, and after working abroad for a few years Mark joined him in the industry. With a combined experience of over sixty years in motoring, Mark and his father noticed that the average citizen was struggling to get finance to buy a vehicle. Following on this, they also noticed that people were struggling to move up in society and live better lives. Having no access to transport, people were really having a hard time progressing; so, it was in 2014 that the Cohen family launched the Rent-to- Own company, Mad Rent, inspired by the idea that if people were able to access reliable, good- quality transport at affordable prices, they would be able to better their lives, improve their status and obtain better prospects for their future.

Mad Rent is a company that offers high-quality vehicles to customers that have been denied access to financing through blacklisting or challenging credit scores on ITC. Not only does a rent-to-own deal mean you drive a reliable vehicle, but it also includes insurance costs, warranties and roadside assistance to give you peace of mind and prioritise your safety and well-being, at one monthly cost for a period of two years. After this time, you have the option of purchasing the vehicle for the amount outstanding after two years of payments, or continuing with another rental.

Matt Symanowitz joined the Mad Rent team recently, having come from a background at Transaction Capital, which is essentially the driving force behind SA Taxi. In his role working with over 30 000 minibuses, Matt was exposed to the devastating effects of Taxi accidents, the lack of adequate safety for families involved in Taxi-related incidents, and the unreliability of public transport when trying to raise a family, build a career and maintain your independence. Matt decided that his desire to touch more lives would best be channelled at Mad Rent, and so it was that he summarily walked into the Mad Rent offices, proclaimed his intention to expand the business, and – as Mark notes – has been there ever since.

Mark and Matt speak with sincerity when they note that the motoring industry is not always a safe place for the unassuming motorist: with unscrupulous dealerships and individuals seemingly out to take advantage of people, their core belief is to build people up and help them have a massive jump in their lives. Being very socially conscious, the Mad Rent team present with an immense passion for people and providing for better futures.

In my search for individuals and companies that share my desire to empower and uplift, I don’t often find companies with this level of determination and dedication to bridging the gap for those who
cannot access transport, and thus cannot improve their circumstances. Striving to see people independent and responsible for themselves, is what drives this team. As such, how Mad Rent works is to provide high-quality vehicles to customers for a period of two years, after which the vehicle becomes available for purchase at a much lower price than what is market-related – this alone sets this company apart, as their commitment to upliftment continues right through to the end.

Creating a sustainable business that continues to produce relevant products that are fair, fairly priced and advantageous to the driver (with such added benefits as a reliable vehicle tracker and road-side assistance). Mad Rent also offer their services anywhere in South Africa.

Torque Queen