Commercial drivers borrow cars for a certain fee. It’s an established system that works but doesn’t necessarily offer good value to drivers. We believe commercial drivers should be working harder for themselves and not for someone else, so we founded Rapyd on that principle. We created a platform and began helping people who need cars for commercial purposes, providing better value to them. It’s as simple as that. We’re not a replacement for banks that give car loans, and we don’t pretend to offer the lounge service or marble foyer that may be experienced elsewhere. We exist for commercial drivers who would like to own the vehicle once all necessary payments have been made. At the start of the agreement, a deposit will be paid. The higher the initial deposit the lower the monthly payments will be. The fixed regular monthly payment and the term length will then be agreed upon depending on the driver’s circumstances and preferences. With no deferred lump sum to pay at the end, the driver will become the legal owner of the vehicle once all the monthly payments have been paid.
