The bank will check the credit bureau before deciding whether it is possible to grant a loan. But, despite credit bureau, the loan approval is not always successful. We are at your side with tips and information on your way.
Despite credit bureau credit – in a nutshell
Car loan despite credit bureau can be approved if the warning of credit bureau – probable loan default – can be refuted. In some cases, this works through additional collateral, sometimes through special loans. Make full use of the connected credit comparison. Submit your non-binding loan application now.
The software checks in real time and only shows the loans that are really eligible.
Can the credit bureau be improved?
In the credit bureau, garnishments, reminders, court notices and loans paid are displayed.
Car loan despite credit bureau – secure software for credit
Basically, the credit bureau evaluates all storages and experiences from comparison groups for the score. The score makes a statement regarding the probable credit risk. For example, if the applicant has “too many” credit cards, has changed banks frequently, this is included in the score. However, the score is not a rigid numerical value. It can possibly be improved.
The score improves if, for example, the customer cancels all unnecessary credit cards. Moreover:
- has wrong entries deleted
- Reminders paid and proof of payment is provided
- requested entries from collections for deletion
But sometimes it’s easier said than done. Because, not without reason, these entries showed up.
So it is not possible for some consumers to improve credit bureau.
Car loan despite credit bureau – offer loan collateral
The bank grants some consumers a car loan despite credit bureau if they offer additional loan collateral. If the entry is not quite as serious, factual collateral is sufficient. Despite credit bureau, the loan amount will still be rather low. Financing a luxury car will not be possible, rather a good used car.
But even a good used vehicle can often bring its owner safely to his destination for years. Banks offer credit much more freely despite a somewhat poorer credit bureau, when applying with a guarantor or a second borrower. However, this is not entirely without risk for the second loan holder. The guarantor or second borrower would have to pay the remaining debt of another person in an emergency.
In this case, too, it is advisable not to raise too much money in order to minimize the risk.
Too much debt – that can be done
If the household bill shows too little scope for further installments, the bank rejects the car loan despite credit bureau. Basically, it is not the bad credit bureau that leads to rejection. But the fact that the applicant cannot afford his loan. But the car can be very important, especially for working people. A debt restructuring would be conceivable. The debt reschedule combines car loan and some old debts.
Due to a long term, the monthly charge drops to a tolerable level. The bottom line is that the applicant can – thanks to the debt rescheduling – afford his car loan again despite credit bureau.
With a detour to the loan – without credit bureau
In the case of unpaid negative entries, no bank in Germany grants a car loan. The loan would now be conceivable without credit bureau from abroad or from friends.
Anyone wishing to avail of the credit bureau-free international loan must prove a seizeable income. As far as is known, all legal international loans without credit bureau come from only one bank, Capital Lender. The credit bureau is not checked, but the amount of income and the employment contract. Applicants with a fixed-term employment contract or without any income will have no chance of getting a car loan despite credit bureau.