How to Buy a Car When You are Under Debt Review?
Debt review can create a stressful situation. It may force you to use public transport. You may have to sacrifice all the entertainment from your life to overcome a hard situation. But if you are crazy about your independence and like to drive your personal car, there might some ways. Here we are trying to explore the way so that you can avail a car when you are in a blacklist.
Usually, people are not allowed to enter into new debt while they are under debt review. That’s why it might be difficult for them to purchase a new car with a bank loan. As they are already blacklisted, they are not qualifying for receiving new finance. In this situation, the rent-to-buy car finance option can be a good solution to buy a car. It is considered one of the most affordable ways to purchase a car when you are under debt review.
What is a rent-to-own option?
Rent-to-buy or a rent-to-own option is a car buying solution. It allows you to find a vehicle you can afford. Even if you have a poor credit history, you can enjoy the freedom of driving your car. Whatever is your credit score, through this process you can buy a car. You just need to pay an upfront admin fee and make monthly rental payments. So, choose the rent-to-own option and enjoy a stress-free journey of purchasing a new or pre-owned car.
How does it work?
Credit review is not necessary after applying for rent-to-own service. Company authority will review your application and get back to you within 24 hours. If everything is okay you will receive vehicle financing without any hassle. If you meet all the requirements, you may drive your desired car within two hours of receiving the documents. You just have to pay the car rental charge monthly on time. You do not need a credit check. It is also a good way to escape the high-interest rates of bank car loans.