facebook

Vehicle Finance for Blacklisted

 

So you’re blacklisted and want vehicle finance. But, do you really know how much blood, sweat and tears goes into this long-term commitment? Or how it will drain your finances for the next 3 to 5 years of your life?

Things will go wrong – as they invariably do when it comes to cars! Especially if you have a bad repayment history. Do you really want to spend the rest of your natural, waking life paying off car debt?

Below are a few questions to ask yourself before you take out vehicle finance and freewheel over the cliff into a grand canyon of car debt!

 

Questions to Ask Yourself

 

    1. Have you budgeted for all of the recurring costs of driving a car, on top of those pricey monthly repayments? Such as petrol, insurance, servicing, PARKING, car washes, touch-ups, tune-ups and the list goes on and on. Ask any motorist!
    2. Have you shopped around for more reasonable interest rates? If you’ve been blacklisted, you can expect a couple of application rejections. And, each time a credit provider does a hard inquiry credit check, your poor credit score will take a hit.
    3. Are you aware that most credit providers charge much higher interest rates, if you’re blacklisted? As such, you will have to shop around anyway, in order to find tolerable rates. Beware, there are plenty of loan sharks out there!
    4. Are you able to make all of your payments in full and precisely on time, without a single slipup for 3 to 5 years? If your track record is anything to go by, the fact that you are blacklisted does not bode well.

It may just be smarter to investigate some of your local public transport options – you may just be surprised how much money you can save! In the meantime, you can contact National Debt Advisors. NDA will help you get a crystal-clear credit record to considerably enhance your vehicle finance options.

 

Share this:

[DISPLAY_ULTIMATE_PLUS]

Free Call Back Form

We'll Contact You!
  • Accept terms and conditions?
  • This field is for validation purposes and should be left unchanged.
Facebook Pagelike Widget

Sign Up To Our Monthly Newsletter

Related posts

How to escape the debt trap

How to escape the debt trap

Dealing with overwhelming debt can feel like being stuck on a treadmill of stress and constant struggle without any way out. It starts out as a small credit card payment here, a car finance there, a store credit purchase once or twice, and eventually the bond purchase...

Is debt ever a good thing?

Is debt ever a good thing?

Whether it be for education, a house, a new car, or to cover an unexpected excess amount to your insurance when you damage that car, most of us will at some point in our lives need to acquire debt. The problem is, while debt might start out as a necessity, due to the...

Youth unemployed

Youth unemployed

Sitting at a staggering 35.3%, unemployment in South Africa, according to Stats SA, is the highest it has been since the start of the Quarterly Labour Force Survey in 2008. Youth unemployment carries the bulk of the burden with unemployment rate amongst those aged 15...

CONTACT

Need help getting rid of your debt?

We'll Contact You!

  • Accept terms and conditions?

  • This field is for validation purposes and should be left unchanged.