Do you really need to buy a car but don’t qualify for vehicle finance because of a poor credit score? You’re not alone.
South African consumers are going through a really tough time at the moment, with a slowing economy and rising interest rates making it difficult for people to meet their monthly payments.
The minute you skip a few payments or default on a debt, your credit score will be the first thing to suffer – and if you have credit judgements against your name, you may not be able to qualify for credit at all. This is the difficult reality of being blacklisted.
Being blacklisted doesn’t mean you can’t own a car
Many of us are so used to applying for vehicle financing every time we want to buy a car that we simply assume we can’t buy one without an excellent credit score – but is this really true?
If you’re blacklisted, you may have a lot of difficulty being approved for vehicle financing, but the good news is that there are other ways to buy a car – and now is the time to try them out.
I don’t have enough money to pay cash for a vehicle – now what?
Another common misconception that many South Africans have is that you either have to finance your vehicle or pay cash – and in the current economy, who can afford to pay hundreds of thousands of Rand for a car?
Fortunately, there’s a better solution.
If you’d like to enjoy the convenience of monthly payments but avoid the hassles involved in a credit check, we have good news. Rent-to-buy vehicles are a great way for anyone who earns at least R12 000 per month to buy a vehicle and own it after 54 months – without paying huge balloon payments and hidden costs.
If you’re tired of having your bank vehicle financing applications rejected, why don’t you reject them instead? Contact our team today and we will explain everything about the rent-to-buy approach to owning a vehicle. We are ready and waiting to introduce you to a new, stress-free way of buying a quality vehicle.