“Blacklisted” is the colloquial term used to describe individuals or companies who have a bad credit profile more often referred to as having a bad credit record.
If you are blacklisted, have a bad credit history or struggling with financial debt problems and want to buy a car, but wondering how you’ll get vehicle finance, there is no need to worry anymore. You can still get vehicle finance provided you can come up with a percentage of the car’s value in cash. If you have been blacklisted or struggling with financial debt and need to get assistance to help you get out of the situation, is nothing to be ashamed of. Many people, especially in the current economic crisis, are struggling with exactly the same thing. Being blacklisted doesn’t mean you are a bad person or that you aren’t concerned with paying bills and accounts on their due date. It could be that you were retrenched or had one or two very bad months financially, and couldn’t afford to pay your bills. It happens to the best of us.
Car finance for people who are blacklisted is called “Non Standard Finance”. If you are blacklisted or have a black patch in your credit record, Non Standard Vehicle Finance enables you to obtain an auto finance package. When applying for bad credit vehicle finance there is certain documentation that needs to be submitted such as your valid Driver’s License, your ID document, proof of income, bank statements and proof of residential address. You also need to fill out an application form rent to own cars
Should you qualify for vehicle finance and consistently pay off your monthly premiums it will have a positive effect on your tarnished credit record. If you pay of your car quickly and efficiently you may even stand the chance of clearing your name of the black list and taste financial freedom again!
If you are blacklisted and need vehicle finance first do some in-depth research online before making any final decisions on the type of finance solution for blacklisted individuals.