Thanks for the question
If your accounts are in arrears it means that your credit profile has been affected. Credit Providers will give you financing for a vehicle based on your credit score. If you fall into arrears with debt repayments, your credit score is negatively affected.
If you want to buy a car I would not suggest that you settle all the arrear account immediately. Rather bring the arrears up to date first, and then pay the correct installment for about 3 months, and then settle the accounts.
If the last status of an account is “in arrears” and you settle it on that status, your credit score will take longer to improve. If you pay the arrears and make regular payments for 3 months an all accounts are up to date it will reflect better on your credit score.
There are no guarantees that you will be able to buy a car. It remains the decision of the credit provider if he/she is willing to grant you the credit. If they do however refuse to grant you the credit they MUST also provide you with a reason in writing.
Before you do anything else I would suggest that you pull your credit report from http://www.credithealth.co.za and review your score. you will be able to see exactly what is the status of your credit profile. Remember that every time you apply for credit, it is also recorded on your credit profile, whether or not it has been granted. Multiple credit applications also negatively affects your credit score.