Especially new cars and young used cars are financed with a purchase. The reason for this are the very high initial costs, which can quickly amount to tens of thousands of euros and which hardly any buyer can buy from their own pockets. But he does not have to, because there are excellent financing options for buying a car that are based on the wishes and needs of customers and so perfectly integrate into their lives. And this without being a burden and leaving no negative mark.
Loans in Germany
In Germany, it is customary that before the borrowing the credit bureau of the interested party is queried. The banks want to determine the creditworthiness or the credit rating. Anyone who does not want the credit bureau will be queried, will probably get problems in receiving the loan. After all, it can no longer simply be picked up at a local bank or at the dealership. Rather, there is usually nothing left but to use a foreign loan or the help of a credit intermediary. Both options are associated with a slightly greater effort and higher expenses, so you should think very carefully whether a car loan without credit bureau information is really needed or if you do not want to go the “normal” way.
The key data for a car loan without credit bureau information
If only the car loan without credit bureau information, then there are two possibilities for borrowing. The first possibility is found in the commission of a credit intermediary. These usually work together with private lenders or banks from abroad and are thus able to make loan requests without asking the credit bureau.
However, one must always keep in mind that the inclusion of such a loan can not be immediately put into action and that even the credit intermediary can not conjure. If the conditions for a car loan without credit bureau information are too bad, even a mediator will not be able to provide it.
The second option can be found in loans from abroad. The only bank currently offering loans to German customers with permanent residence in Germany comes from the Principality of Liechtenstein and is called Credither. The bank specialized in this type of loan years ago and has developed a firm framework for the award. So there are only two credit sums: 3,500 and 5,000 euros. The repayment must take place within 40 months. In addition, the interest rate is between 11 and 12%. A big car can not be bought under these circumstances. But perhaps the financial means are sufficient for the acquisition of a vehicle, which later – once they have improved their own conditions for a loan – can be exchanged for a larger and better vehicle.
The conditions for a car loan without credit bureau information
When taking a car loan without credit bureau information you should always remember that no bank and no private donor has something to give away. The loan is therefore only possible if you have collateral to offer. Due to the lack of information from credit bureau, there is ever a lack of security that needs to be compensated. This would be possible with a very good income, which is based on a permanent social insurance. Moreover, it is always good to be able to offer material security. Insurance companies are also welcome by the lenders. And if that is not enough, then a guarantor or co-applicant can add extra security to the loan.
Note: A car loan without credit bureau information is not registered in the credit bureau. This means that the credit does not diminish the credit rating. However, this does not mean that the lender will not be able to sue and seize the outstanding amounts in the event of payment delays. But on the contrary. With such a loan one must generally agree that the income in the case of defaults may be seized. The loan should therefore only be taken if it is really worth it and if it can be served until the end. Otherwise, it can quickly really big problems.