Vehicle Finance For Blacklisted

Car Finance For Blacklisted

Financing options to get Vehicle Finance for Blacklisted People do fortunately exist for those who have a less than perfect credit record.

If your personal financial circumstances have been difficult & you have been unlucky enough to pick up a judgement & have been blacklisted, you will be glad to know that car financing options do exist even if you have been unsuccessful getting credit through the mainstream banks & financial institutions.

How To Get Vehicle Finance For Blacklisted

For those people who are struggling to get credit for any of the following reasons…

• the usual vehicle financing channels are not working for you
• or you are blacklisted or have judgements
• or you do not have a clear credit record & are over committed in terms of monthly payments

…you will be happy to know that there is this very easy vehicle financing option available to you.

How Does This Method Of Financing Work

All you are required to do is to submit a very simple & short online application form.

After that has been done you will be contacted within the next 24 hours to advise you on the status of your application & what to do next.

What Do You Need To Qualify

For personal vehicle financing you will need to meet the following criteria

• You will need to either be trading in a car to the value of at least R10,000 or be able to put down a minimum deposit of the same amount.
• You will need a valid driver’s license
• You will have to be able to supply a valid Identity Document
• You will need to be able to supply your last 3 months pay slips
• You will need to provide bank statements for the previous 3 months
• You will also need to provide proof of residence in the way of a current utilities account or lease agreement

What You Can Do Before Applying For Credit

Before rushing off & submitting applications for car financing all over the place you should first establish exactly where & with which companies you have been blacklisted & whether you are listed as having any judgments against your credit record with the ITC.

So applying for credit at several companies will mean that if you have been blacklisted & have had an application denied recently this information will come up on your credit record which will probably mean that you will be denied straight away.

It is therefore worthwhile checking out your credit rating first & establishing exactly where you stand in terms of judgements & blacklisting so that these can be addressed prior to submitting your application for finance.

Furthermore you should also research other car financing options that may be available in the newspapers or other media channels which may reveal other financing sources & in-house car finance options.

However, you need to exercise extreme caution when engaging with some lenders who could turn out to be loan sharks who may not be operating within the bounds & regulations of the National Credit Act.

You therefore need to be very careful as, while a loan shark could seem to be a short term solution, entering into an agreement with such a lender could ending causing you an unnecessary amount of financial & legal trouble.

A sensible option of course would be to employ the services of a lawyer who could work on clearing your judgements & blacklisting & provide you with a clean credit history which would strengthen your position when applying for credit in the future.