Some useful information to have if you're ever contacted by a debt collector.
More useful information about being blacklisted.
Unfortunately, being blacklisted is a reality for thousands of South Africans. There are a few reasons why you may be blacklisted, and knowing more about these reasons may help you have your blacklisting removed quicker.
Buying your first car is a difficult process for anybody. Choosing the right car, finding finance, and then paying it off over the next few years isn’t easy. This is all especially difficult for a lot of young people who’ve just left school or university and need a car to get to their jobs. Many of these people will have their car finance applications turned down because they have no credit history.
Buying a new car is a big deal, you need to be prepared and educated about all your different options before taking the leap and driving away.
On 1 April 2014 the government’s credit amnesty came into effect.
There are many reasons why you may want to consider a rent-to-buy car even if you have a very good credit score.
Getting car finance can be difficult for any person. Banks and car dealerships have strict rules about giving finance. The main factor that helps them decide whether or not they will give financing is your credit history.
Having a bad credit history is a big problem because it prevents you from leading a normal life. It becomes difficult to buy some of the necessities of life such as a car. However there is no need to despair because cars for blacklisted clients are possible to find.
A car is a necessity that every family needs because it brings convenience that makes life easier. However for many people it is not easy to acquire because they cannot afford it. This is why car finance is important because it makes it possible for people to get the finance necessary to but cars.
Getting blacklisted car finance is easy and is available to anybody who needs it. Having a bad credit should not be a hindrance to getting a car. One can always be able to get around the problem and manage to acquire the car they need.
Should you ever have defaulted on any of your loan payments more than on just one occasion, it is very possible that you could be blacklisted. One of the financial institutions can even go so far as to make you make further payments by means of sequestration or a court order. It can certainly damage [...]
The convenience that is brought by owning a car is useful to all families irrespective of their size. Banks are always available and willing to finance cars because it makes business sense to them. Therefore obtaining such a loan is easy and can be done without any hassle so long as requirements are met.
Rent to own is a concept used by some companies to enable the customer to own the asset once they eventually finish paying for it. In the meantime they can start enjoying the benefits of the item by using it to take care of their needs. They can enjoy this privilege through paying a monthly rental fee.
When you live in a country with a defunct public transport system then you need a car simply because there isn’t any other transport. Rent to own a car is a way to own a car when it at first appears as if you will never have the means to get yourself a vehicle in [...]
Being blacklisted is the result of poor money management and can make a person feel like a criminal. This is because some of the things that most people take for granted, like owning a car, are denied you. It doesn't help being told that millions of people are in the same boat as you; you need a car now. Being blacklisted can have a negative impact on your credit history and this can affect your ability to get a loan of any sort.
There are several ways or things that can cause you to discover that you have been blacklisted on the ITC. Unfortunately this can mean problems for you in the future, especially if you want to buy a car or a house. It is just fortunate that blacklisted vehicle finance awaits people who are being denied by banks the finance they need to purchase a car. Many people who have been blacklisted feel like the world is against them and they are being punished by the banks for allowing themselves to get into debt.
You might be one of those people who do not have a great credit history and yet you are desperately needing a car and are in despair because you just cannot see your way clear to obtaining a vehicle. But for those who are in such a predicament; there is hope and it comes in the form of rent to own cars in SA which is a route that many South Africans in a similar position to you have taken.
Should you ever have defaulted on any of your loan payments more than on just one occasion, it is very possible that you could be blacklisted. One of the financial institutions can even go so far as to make you make further payments by means of sequestration or a court order. It can certainly damage your credit history. This means too that if you want to buy a home or you want to finance cars for instance, it is going to be more difficult for you in future.
When you are blacklisted, you can expect it to have some serious effects on your financial reputation. You can expect to have a really hard time when you want to get credit if you are wanting to buy a new car or a new home for instance. What you have to do is to prevent getting blacklisted, and monitor your credit ratings. Sometimes your good credit reputation can be ruined if even if you have not done anything that can effect it negatively and still other times when it can get ruined without you even being aware of it.
When you have a lot of accounts to pay every month and you default on some of them more than just on one occasion, it is very possible that you will be blacklisted by a financial institution. Vehicle finance for blacklisted people can sometimes become impossible if the financial institution goes so far as to force you to make regular payments by means of a court order or through sequestrating you. Then you can be sure that your credit history will take a serious knock, damage it badly and prevent you from getting future finance in future.
If you are one of those people who do not have a good credit history, you will probably know how it can have a serious effect on your financial business that you carry out on a daily basis, let alone the future. You probably know very well how it feels when you apply for finance, and you just simply get turned down, and it is all because of your credit scores. There are some who are desperate to own a car so that they can get to work to earn money, but just fortunately these is a system in the form of renting-to-own vehicles; it has become the way to go for blacklisted people. At least there is a bit of light at the end of the tunnel.
When you buy a new car, it will take you around five years to pay off the amount that you borrowed, with interest on that car. Those people who want to buy cars or trucks and who do not have the finance at their fingertips can apply for car finance so that they can buy the cars they want. It is these financial institutions or banks who then give people the money they need to buy the car or truck that they want. There are several typed of financial institutions where people will borrow money from to purchase a new car.
Being blacklisted can be devastating for people who only find out they are in fact blacklisted when they apply for a loan to buy a car. Buying a car, especially when its for the first time, should be exciting and there is plenty of information available to first time buyers on how car financing works. But what happens if you have a problem with buying? What happens when you are blacklisted and need a car to get to work to earn money? Is your bad credit history going to forever jeopardize your chances of owning anything as important as a car?
With blacklisted car finance you can actually own a car and still have a large selection of vehicles to choose from. Car loans help people who need a car but they don't the means to buy one. When you are considering a loan, you will need to consider things like the interest rate, the repayment period and what you will be paying each month. Some people who do not have a deposit can still get a loan. This is because there are companies whose mission it is to assist you in getting the car you need. They have people working with them who will assist you with the entire process.
A huge number of people make their new or used vehicle purchase on car finance, whether it is help with finance from a dealership, a loan from a bank or some other financial institution or leasing. Even those people with bad credit ratings and who have been blacklisted can also get financing.
Everybody needs a car because it brings a lot of convenience into your life so that you can lead a comfortable lifestyle. However a lot of people are unable to buy cars because of their bad credit histories. But if you need a car but blacklisted you do not need to despair because there is a way.
A bad credit history will always make it difficult for you to get loans because lenders will be weary of dealing with somebody like you. This means you will struggle buying essential assets such as cars and homes. However rent to own cars are there to help people in this kind of predicament and you should consider them.
A bad credit record can ruin your life to the extent that you are unable to buy all the necessities that you need. A car is one of those because it makes life convenient since you can do your errands and be able to get around. However rent to buy cars are there to help you in such a situation.
If you are blacklisted and want to get finance for a car, you should consider car finance. There are many companies that provide car finance for people that are blacklisted. Depending on your requirements and needs, you can be able to find a company that will provide you with the finance you need in order to get your car.