If you live in Johannesburg, Durban or Cape Town you may face a lot of difficulties in getting a personal vehicle loan, especially if you are blacklisted.
The first hurdle that you may have to face is that of your credit ranking, which you were probably not aware of before. It is essential for you to know that the interest rate that lending companies charge depends on how low or high your credit score is.
If you have a bad credit score or if you are blacklisted, you will probably be refused a vehicle loan unless you are ready to pay an exorbitant interest rate. Even for that you will have to first find a lender who specializes in lending to blacklisted people. Remember that every time your application for a loan is rejected, your credit score goes down further.
Valid driving license, proof of residence and your bank statements. Also, you must be 25 and do not have any criminal record. If you meet such simple requirements, you can get a car within 24 hours