When you need car finance, you need to follow some essential steps.
First off, you need to decide whether you want to buy a new car or a used one. This decision will determine your car finance rates.
In case of used cars, the condition of the car determines the approval of your car finance application. Getting vehicular financial approval for a very old car will not be very easy. In fact, it is not wise to buy a very old used car in the first place.
Factors Determining Your Auto Finance Options
Your credit score will greatly determine the auto finance request approval. If you have a good credit score, you will find it easier to get vehicle finance than the time you had bad credit history or were blacklisted.
The financial institution you approach also determines whether your auto finance request will be approved.
Some Tips to Secure Auto Finance Even When you Are Blacklisted
If you need auto finance even when you are blacklisted, you can choose a leased sales agreement. You can easily get the tax advantage on lease payments. The advantage of entering a lease agreement includes the fact that you can return the car anytime you feel you are uncomfortable about owning it any longer.
You must consider a car only if you are sure you will be able to make the payments without any difficulty. Going beyond your means is never a good idea. If you feel you cannot afford a new car, you must go for a used car finance option.
Buying a used car does not necessarily mean you have to compromise on quality. You will come across a large number of used cars for sale, provided you know the correct place to go to.
The golden rule is to jump into auto financing only when you have ensured all the essential factors associated with it. If you are a resident of South Africa and are looking for a favorable auto purchase option, approach Earn-a-car .
At Earn-a-car, you can have a vehicle of your own within 24 hours or meeting our criteria even if you are blacklisted. You just need to meet some basic requirements, after which you can be the proud owner of your own vehicle very soon.