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You might be one of those people who are absolutely battling to obtain finance from a financial institution in order to buy a car, and you are really desperate to get a car. It could be because you have a poor credit record or that you are already blacklisted because of your poor credit record history. You might have gone from bank to bank only to hear that you cannot get finance because you are not a trustworthy payer. It makes no difference that you might have some very legitimate reasons why you know you are blacklisted; some of the banks and financial lenders will not even listen to your story. But there is a solution to your plight of not having a car, even though you are blacklisted.
Normally speaking, monthly repayments on a car for someone who is blacklisted will tend to be much higher than the norm because now the lender of the money considers your bad credit record as higher financial risks to themselves. But there are special car financial packages for someone like you who is blacklisted and to others in financial stress. Not only that, there are even some online companies who deal in finance and you could apply online to them just by filling out the form that are supplied to you online. You will just need to take care when you choose one of the on-line financial companies because there are many who will tell you that they will provide you with finance for blacklisted people, but they are scam companies. All you need to do is to investigate thoroughly your options provided by the company and research the company before you make your choice. You do however need to find the right company that has testimonials from clients who are satisfied with their service that will give you a good indication. You must also ask all the questions that worry you before you fill out the application form.
Find out all you can about different loan companies
You will need to know all you can about the different loan companies that will provide you with finance for a new or a used car that you want to buy. They should be able to show you the best vehicle package that suits your needs, and it will be regardless whether you are blacklisted or not. You must just remember that even though you have been through difficult times and have been blacklisted because of it, does not mean that you must let any sales person take advantage of your situation. As the winds of change blow, so will your financial status change and you can fix up you credit rating. The best way to fix up your credit rating is to try and consolidate all the bad debts of the past into one payment and then to pay that bill faithfully every month, and on time. Remember also to keep your savings account in your banks because your account performance can also enable to restore your credit ranking. If you do have a credit card, now is the time to cut it up and not use it again, but if this is impossible at your moment in time, use it only when absolutely essential.
Just don’t give up; there are also institutions like Earn-A-Car, which you can try. Here your credit history is not considered but there are some conditions you have to comply with and hand in certain documents. It could mean that even with being blacklisted, you will still be able to drive a car sooner than you thought, just pay on time and become a really excellent payer.