Car finance for blacklisted South Africans is available, believe it or not. If you have a history of bad credit it does not mean that you are not eligible for secured loans, it just means that borrowing cash might be slightly more difficult for you. When you apply for a vehicle loan, the company will do a background check on you and see where you stand financially and if they pick up any negative information about credit or bad debt they may decline your application. This is why it would be better for you to go straight to a company who only deals with those who have such a history.
The only aspect here that you have to look at closely when you are interested in car finance for blacklisted South Africans is the interest rate they will charge you. This is because when you are borrowing cash under these circumstances, they are likely going to charge you a high rate because they see you as a high risk to lend money to. Especially so when it comes to a vehicle loan because it is a large sum of money you want to borrow, but it is like this with any secured loans and black listed people wanting to borrow. As long as you have bad credit behind your name you will not get a loan from a normal bank, so this is why you have to contact one of the lenders who don’t mind doing business with you if you are on any kind of black list.
Just because you have a bad history with money, it doesn’t mean that you should not be able to purchase a vehicle, but make sure that you will be able to pay back the money every month, with the interest added on. To borrow money for a vehicle when you are blacklisted for whatever reason is not that difficult, you just have to look online otherwise browse through newspapers and magazines to see if you can find anything in there.