Answers
Aug 02, 2020 - 02:59 AM
Hi there
Unfortunately, just the fact that you've been blacklisted will likely count against a good interest rate, but you will be eligible for finance nonetheless - albeit with unfavourable interest rates. A gross income of R13k a month should allow you to finance a car with a value of about R 150 000, with roughly R 2 500 going towards the repayments and some change left over for fuel, maintenance and insurance. In this case, you should consider something that's proven to be long-lived and without serious design flaws, such as a used Toyota Etios or Hyundai i20.
The procedure to clear your name from the credit company lists of bad debt, would be to approach them with proof of payment for all the outstanding debts, following which they will clear your name and declare you eligible for car finance. This can happen the moment all debts are settled, but may take a few months to process at the credit rating agencies.
Hope this helps, and well done on clearing your debts!
The AskAutoTrader Team
May 08, 2022 - 11:01 PM
Hi there
Unfortunately, just the fact that you've been blacklisted will likely count against a good interest rate, but you will be eligible for finance nonetheless - albeit with unfavourable interest rates. A gross income of R13k a month should allow you to finance a car with a value of about R 150 000, with roughly R 2 500 going towards the repayments and some change left over for fuel, maintenance and insurance. In this case, you should consider something that's proven to be long-lived and without serious design flaws, such as a used Toyota Etios or Hyundai i20.
The procedure to clear your name from the credit company lists of bad debt, would be to approach them with proof of payment for all the outstanding debts, following which they will clear your name and declare you eligible for car finance. This can happen the moment all debts are settled, but may take a few months to process at the credit rating agencies.
Hope this helps, and well done on clearing your debts!
The AskAutoTrader Team
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