Loan for car purchase – credit without credit rating

A car-free car loan is a solution for consumers who need a new car and the Autobank due to their creditworthiness no promise. Often, a car breaks down without notice and is urgently needed for work and family life.

Quick replacement without waiting time is the only chance to pursue his work as before and not have to change his life with the missing vehicle. Instead of focusing on the car bank or asking at the house bank, one can look around directly on the free financial market and find many offers.

A free car loan must fit the borrower

car loan application

Private investors and banks in Germany and abroad issue loans for which the credit rating is not a condition of the authorization. However, a suitable offer can not be recognized at first glance, so that a comparison is worthwhile and a wrong decision can be deleted from the agenda. In comparison, you get an overview of the interest rates and the different framework conditions of the individual contracts. A flexible schufafreier car loan presents itself as an optimal solution to the borrower.

During the term, the financial background can change and make sure that you have to adjust the repayment and thus change it. If you have opted for flexible contractual basis, an adjustment of the repayment, a temporary deferral or even earlier than contractually agreed repayment of the sum unbureaucratically and at no extra cost.

Since the comparison leads directly to the lender’s website and thus to the application form, there is no need to spend a great deal of time comparing and creating a basis on which a non-lending car loan will not become a problem even during the term ,

This is how a car-free car loan gets its approval

car loan

A conversation between the applicant and his sponsor does not take place on the free financial market. All information is transmitted directly online, reducing the waiting time and allowing for approval in less than 24 hours. Since the borrower can not adhere to his creditworthiness and provide it for hedging, various options offer collateral. One can override possessions or deposit capital-forming insurance and savings plans, but also focus on a guarantee and name a second applicant.

The variety of accepted collateral gives all applicants the same opportunity and can get approval for their car loan. It is important that the hedge is offered in an appropriate amount to the requested loan and presented plausibly. The decision is made by the donor on the basis of the information provided by the applicant in the form and transmitted online to the focused donor.

Auto-credit: Where is the Car Financing the Cheapest?

Especially in recent years, the number of car loans via a loan or through the dealer house bank has risen steadily. Not infrequently, the background for this is the lack of liquidity. The buyer has several financing options available: On the one hand, a car loan as an earmarked loan from the house bank, on the other hand, the financing through the dealer house bank.

Car loan from the house bank

Car loan from the house bank

A car loan from the house bank or an online provider is a special purpose loan. It is granted for a specific purpose, in this case for car financing, and is usually characterized by particularly favorable conditions. Nevertheless, the buyer should compare the sometimes clearly divergent contract conditions among the providers: These include not only the processing fees, which can often make up two percent of the loan amount, commission costs, premium (premium, premium) and discount (discount) and interest. A good way to compare different options for car financing is our comparison calculator.


To the comparison calculator

To the comparison calculator

Especially the effective interest rate is of enormous importance. This includes all fees associated with the loan. Online providers are often cheaper, as they waive the processing and administration fees. This is made possible by the smart online business structure, as the providers do not have to provide any branches and thus no consultants. All processes run fully automatically and online.

Include different aspects of auto finance

Include different aspects of auto finance

Furthermore, the cost of the credit depends on the choice of the loan amount and the duration of the loan. In other words, depending on the term, the monthly repayment burden is reduced or increased. Closely related to the choice of the loan amount and the repayment term is also the amount of the interest rate at which the loan bears interest. The conclusion of a residual debt insurance is an integral part of the car loan from a bank or an online provider.

Of course, when it comes to the decision between bank and online credit, you also have to be aware that there is no direct point of contact for problems with online car financing. Any renegotiations of loans, etc. must be clarified by email or phone and if the service turns out to be inadequate, that can be very annoying or even a real problem. In this regard, traditional banking institutions are still in the lead.

The financing through the car dealer house bank

The financing through the car dealer house bank

Not only the hard competition among the car dealers, but also the question of financing leads to the fact that more and more car dealers offer in-house financing at supposedly favorable conditions. But especially here caution is advised: Financing by the dealer bank is characterized first by very low interest rates. Even a zero-percent financing is not a rarity. Nevertheless, the car buyers have to calculate exactly here. Often the fees and the financing costs are already included in the selling price.

In addition, there is no possibility for the buyer to negotiate, so that car financing via the dealer bank can be more expensive at the end of the line. In other words, anyone who pays a car directly through a loan borrowed differently has a much stronger negotiating position than someone who, as it were, takes the loan directly from the dealer.