Bad Credit And Being Blacklisted
Should Not Stop You From Owning A Car
Have you ever been blacklisted in the past and have a bad credit history? Bad credits happen when you are unable to pay off your bank loans, mortgage debts or have outstanding amount against your credit card. In case you have such bad credit and have been blacklisted in the past, you may find it difficult to get loan. However, you need not worry too much, as many people are facing this problem. All you need is to understand how the loan policy works. With that, your past history of bad credit and being blacklisted should not stop you from owning a car.
Bad Credit Policy in South Africa
In South Africa, the information about rent to own cars for blacklisted
loan applicants is available with the ITC, which is a Credit reference Agency. So, when you apply for vehicle finance, then your money-lender would first check your credit history with ITC. Here is what you can do to get vehicle finance even if you have been blacklisted in the past:
- If you are applying for vehicle finance and have been blacklisted
in the past, then first get your own credit report and check what it says about your credit history. At times, the reports have inaccurate information which can have an adverse effect on your loan application.
- Make sure that you pay your bills on time and clear away the pending payments.
- Maintain a checking and a saving bank account. It would be very beneficial if you wish to apply for vehicle finance.
- If you are still unable to get loan for your car then you can search for financial institutions which provide Earn-a-car loans to people with bad credit history.
Car for blacklisted people in South Africa
If you have a bad credit history and have been blacklisted< then you can still apply for vehicle finance and get your own car. Earn-a-car, a financial institution in South Africa, do not carry credit check and still provide finance to blacklisted loan applicant. In order to get car rentals you need to fulfill some basic requirement and can get your loan within 24 hours.