Blacklisted car finance for people who have been refused a loan from ABSA, FNB, Standard Bank, Nedbank or any other major bank is available depending on the severity of a persons credit history. For instance if you have a bad credit record and are listed as a high risk to lend to because of defaulting on several previous accounts then you are going to have some difficulty borrowing money. On the other hand, if you have minor judgements or simply listed as a slow payer then you have a much better chance at being able to borrow the cash you need from a lender.
Those who wish to apply for blacklisted car finance from registered vehicle loan providers in South Africa must be aware that this kind of solution usually comes in the form of a secured loan. Which means that you are going to have to have something of value that you can sign as surety against the money you wish to borrow such as a house or a property. Bare in mind though that should you default on repayments after signing a contract for this kind of lending you are giving the credit company the right to take your house or property in the event that you cannot pay the money back to them.
Lending companies in SA that are willing to lend cash to people for buying a vehicle are not governed by such strict rules as ABSA, FNB, Standard Bank and Nedbank so your chances of being approved are better. On the other hand we are obliged to say that if you are already in a lot of debt then borrowing more money for any reason is unwise and you should probably rather be looking to find a good debt counselor.
If you need a car urgently for work purposes at a new job to earn money or similar and your credit record is not that bad then we feel that you are in a strong position to qualify for a loan. Sit down and work out all your debts and expenses before filling in the online application forms that allow people to get car finance from registered vehicle loan providers even when blacklisted or having a bad credit record in SA.