Finding vehicle finance in South Africa if you’re blacklisted might leave you feeling hopeless, but despite previous disappointments, there are ways to get you behind the wheel of a car. When you are blacklisted, banks and other institutions may be reluctant to give you financing, but since being blacklisted isn’t uncommon in South Africa, there are car companies who understand that you deserve a chance to own a car.
Several options are available for blacklisted vehicle finance. You can find a car company that doesn’t require vehicle finance, but rather a programme that allows you to earn your car by paying a monthly rental fee for a vehicle. You can also work on consolidating your outstanding debts; this will improve your credit rating, but will take some time to accomplish, and might not be an option for those who need a car in the immediate future.
Earn a car programmes are a solution for many people who are looking for blacklisted vehicle finance. These programmes rent a car to you for a monthly fee and they give you the opportunity to own the car – the monthly rental fee goes toward the price of the car. Instead of qualifying for vehicle finance, the requirements to participate in an ear a car programme are slightly different. You must:
- Provide a down payment – each earn a car programme requires different amounts, so inquire with one near you
- Be able to pay a monthly payment, again, each programme has different requirements as to the amount
- Provide proof of residence, drivers license, proof of income, and other documents
Many blacklisted South Africans can find success with an ear a car programme. Contact Earn-a-car to see how they can help you!