There are bad credit record car finance lenders in SA, so if you need a loan but you have a poor financial history there’s nothing to worry about; you can still get blacklisted loans. Millions of people have debt problems in South Africa, so don’t feel alone, even if you have been down the road of debt consolidation before. Now that you need vehicle finance, you have to source out the lending companies that offer loans, but preferably not secured loans. A secured loan means that you have to put something down as collateral, and even though you stand a better chance of your application being approved if you have collateral, it still isn’t the best idea.
If you look online you will find many bad credit record car finance lenders in SA, but you have to find the company that offers the lowest interest rate. Try to avoid the secured loans at all costs, but if it is your only option, you will have to go ahead with it and just make sure you make your instalments on time every month. If you don’t, they will repossess your collateral, and that is not something you want them to do. It may not be easy to get blacklisted loans with a low interest rate, but doing some research and contacting different lending companies to check what their rate is won’t do any harm.
If you are blacklisted or have used debt consolidation loans before, it means making loans, opening accounts and purchasing items on credit will be extremely difficult for you. Fortunately, others in South Africa feel your pain and know how difficult it must be to live this way, and this is why there is bad credit record car finance lenders in SA that you can make use of so you can also get your dream car.