Car Loan Without Credit Rating

It is very difficult to get a car loan with no credit rating. Every bank or savings bank requires a certain minimum level of creditworthiness from its customers, regardless of whether they want to finance a new or used car. Further illustration at

However, a distinction must be made as to whether a bank grants a car loan with or without Credit Bureau. The former variant is available in Germany, the latter variant only abroad. In any case, it is worth comparing different car loans and only then making a decision.

Car loans without Credit Bureau

Car loans without Credit Bureau

A car loan without Credit Bureau can be applied for in Switzerland or in another European or non-European country. However, this does not mean that it is a car loan with no credit rating. Only the Credit Bureau information is irrelevant for a foreign loan. For this reason, it is imperative that the borrower have a secure income and work as a worker, employee or official.

He must also be 18 years old and have a main residence in Germany. Many banks have set an upper age limit for a car loan or a normal installment loan, while other banks also lend to older workers or pensioners. In particularly difficult cases, it could be helpful to hire a private loan broker to find a suitable lender.

Although this path often leads to success, a 100% guarantee can never be given. A reputable credit broker should make this clear to the customer and never claim the opposite. Otherwise, it would be a sure sign that the credit broker is dubious.

Merchant and personal loans

Merchant and personal loans

Many people prefer to borrow directly from the dealer where they want to buy the car. This not only has the advantage that the purchase and financing can be regulated under one roof, but also that the interest on the loan is often very cheap. This can range up to a temporary zero percent financing. Even if the requirements for the creditworthiness of the customer in the car dealership are often not so strict, there can be no question of a car loan without creditworthiness.

Anyone who cannot get a bank or dealer credit would have the opportunity to ask a person in private friends for a car loan with no credit rating. Here the award criteria and repayment modalities can be individually regulated.

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