Owning a car is one of the basic necessities these days. So, if you are tired of relying on public transport and wish to buy your own vehicle then you can apply for vehicle finance. However, if you have had a bad credit in the past, then it is possible you have been blacklisted. In this case it may be a little difficult to obtain a loan for your car as the lenders do not prefer to give loan to blacklisted people.

What do we mean by bad credit?

If you have ever taken a loan and haven’t repaid it on time or have defaulted on your credit card payment, then that is called as bad credit. In such case, your credit ranking goes down and you would not be able to able to get personal vehicle finance easily.

In South Africa rent to own car johannesburg , the credit ranking is maintained by the ITC, which is a Credit Reference Agency here. When you apply for a loan, the lenders check your credit report with ITC then decide whether loan should be granted or not. These days, almost one out of four South African residents has a bad credit report; and this is one of the factors that influence your ranking. So if you have a bad credit history, it does not mean you are a bad person. You can rectify your past history of bad credit and can improve your credit ranking.

Vehicle Finance for Blacklisted people

In case you have been blacklisted and still need a personal vehicle finance, then you may not be able to get one easily. At the same time, if you do get a loan then it is possible that the interest rate charged is too high. But don’t be disheartened, as Earn-a-car in South Africa can help you get personal vehicle finance easily.

Earn-a-car does not consider your credit history and would help you get a car loan, regardless of the fact that you have been blacklisted. Through them you can choose a lease sale agreement, wherein you can lease a car with the option of buying it later. You just need to provide Earn-a-car with some basic information and documents to get your car.

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