Can you buy a car if you’re blacklisted?

Unfortunately, if you’re blacklisted you won’t usually qualify for a typical vehicle loan from the bank and other credit providers. The good news is that there are other ways to finance your new ride, and there are many dealers working with blacklisted clients.

Can I buy a car without a license in Namibia?

A few requirements to buy a new car (with bank financing) is essentially that you must have bank account. You must have a valid Namibian Driver’s license. You need to have good credit (not on some sort of blacklist) and you need to be employed permanently (at least for the last six months).

Can I buy a car with a bad credit score?

Yes, but you will likely pay high interest. Instead, we recommend repairing your credit first by contacting a free credit counseling service, paying bills on time, and reducing your debt. If you need a car immediately, then shop around with reputable dealerships for the best interest rate for which you can qualify.

How much deposit do I need to buy a car in Namibia?

A ten percent deposit, 30 percent balloon payment, repayment period of 60 months with the option of a three months repayment holiday.

How long does blacklisting last?

Once you have been blacklisted you will have a bad credit record for anything from 2 – 10 years, depending on the type of listing that you have against you, but even after this period of time a judgment can be issued against you if you have not paid the money that you owe.

How to buy a car if blacklisted in Namibia?

As a general rule, you’ll need to settle any outstanding judgements before you can apply for car finance from a reputable financial institution. This should clear up your credit history enough to apply for finance, however, you’re still likely to incur a higher interest rate given that you’re a high-risk individual.