Need a car but blacklisted? Sometimes it can be extremely difficult to borrow money for the things you need when you already have a bad credit record. Most banks and lending institutions will regard you as a high risk candidate and thus are unlikely to provide you with the secured loans you need to buy new or used automobiles. In addition, they are unlikely to provide you with vehicle finance because they will be uncertain that you will be able to make your monthly repayments every month. This is extremely unfortunate because the interest rates provided by banks are normally better than those offered by other institutions or from the people you would like to borrow money from.
Beware of adverts that ask you the phrase “Need a car but blacklisted?” because they are often trying to offer you a quick fix for a problem that requires more than that. A bad credit history is one thing, but a problem with credit in the present time is something you should try to avoid at all costs. If it is your dream to purchase a vehicle, and you are unable to get vehicle finance right now, then why not think about getting a debt consolidation loan from your bank.
All you need to do is prove to your bank that you have changed your ways and will no longer be a high risk client. If you have outstanding accounts or bills this will be difficult to do. Approaching them with a plan to repay your debt using a debt consolidation loan is one way that you can convince them of the changes you have made in your life. The fact that you want to make an investment is already a good sign for them, and taking out debt consolidation loans will indicate that you are committed to making your credit rating better. So go to the bank with a plan, and you will no longer have to pay interest to signs that say “Need a car but blacklisted?”