Blacklisted but need a car? Don’t feel alone. Thousands of South Africans suffer the very same plight. Obtaining vehicle finance when you have a bad credit history can be very difficult, but certainly not impossible, if you know who to turn to. Financial lending institutions and banks will have to carry out a credit check to see if you are viable for the vehicle finance you are applying for. This is usually where the process ends in disappointment for many blacklisted individuals.
At Earn-a-car however, we offer a unique loan model where we aren’t actually “financing” the vehicle. We offer our vehicle packages on a rent to own basis. Essentially, you are renting the vehicle, until such time as you have paid the cost of the vehicle off. Not only does this ensure that you can get a car without having to worry about financing issues, you can also rebuild your credit status in the mean time. In addition to this, you won’t be tied into a long term contract. We do set contracts in place of between 3 and 5 years, but you can cancel this contract at any time with 30 calendar days notice.
Of course obtaining finance when you are blacklisted also comes with its responsibilities. At Earn-a-car we only offer such finance to individuals who are able to prove their monthly income, are permanently employed and can afford a minimum monthly instalment of R3500. There is an initial deposit of 20% of the vehicle’s value to pay upfront too.
Why choose Earn-a-car for vehicle financing when you are blacklisted
At Earn-a-car we understand the frustration involved when buying a car while blacklisted, as the process can become challenging. We don’t carry out credit checks on our applicants. We have our own set of rent-to-own criteria in place and those who meet with these criteria are eligible for vehicle financing with us.
If you would like to learn more about blacklisted vehicle finance and how to go about it, contact us at Earn-a-car today.