A car financing despite negative schufa? We show how where!

Financing a car with a bad SCHUFA is difficult, but not impossible – our research proves this. We show you in the following reputable providers of car financing without schufa query and all other possibilities of car financing despite negative schufa or bad credit rating.

Car financing with negative SCHUFA – this is the starting position

• Fact: a negative SCHUFA often indicates a very high risk of default and this is what lenders are most afraid of.
• FACT: nevertheless, car financing can be successful even with a negative SCHUFA, if the providers check the individual case or are specialized in the mediation of difficult credits.

Most consumers depend on a vehicle to get to work every day and do other important things.

If the old vehicle is no longer functional or a repair is too expensive or too expensive, you can buy a new one. no longer being possible, most people think about financing. It doesn’t matter whether consumers have good or bad SCHUFA. Both the purchase of a new car and the purchase of a used car are the most common reasons for taking out a loan in germany.

Consumers have the same several possibilities, to be able to take out a car loan. In addition to the classic installment loans from the banks, almost all car dealers also offer a special car loan. However, consumers must be able to prove a regular and sufficient income. In addition, the SCHUFA of the consumer must be positive.

For both types of credit the procedure is almost identical. consumers have to pay a constant rate month after month over a pre-determined term. In most cases, the banks or car dealers keep the car title as collateral.

How to finance a car in the regular case?

With a good SCHUFA, a car can be financed in different ways. On the one hand there is the classical installment credit of banks. On the other hand, credit institutions offer special car loans. Furthermore, vehicles can be financed directly through the dealer or alternatively leased.

• First of all, consumers have to carefully consider which type of financing is the most favorable for them.
• The financing through a dealer can be cheaper in many cases, especially if the car dealer offers "0 percent financing".
• The classic installment loans also have advantages. With this type of credit, customers can pay the car dealer directly in cash and thus benefit from substantial discounts.
• With the three-way financing customers benefit from the lowest rates during the term of the loan. In return, they have to pay a larger final installment in the end. If you do not save any additional money during the term of the loan, you will have to continue financing the final installment.
• However, in the case of poor creditworthiness or a serious negative schufa entry, the classic financing methods just mentioned are severely restricted. That is why we have listed below the most reputable alternatives.

Before even applying for a loan, customers should check whether they are able to service such a loan at all. Unfortunately, most car buyers do not even know what costs they will incur over the entire term of the lease. The credit rate should above all fit into the monthly budget.

A new vehicle is bought which costs 25.000 euro costs. The customer can 10.000 euro raise equity capital or use your old vehicle in this value as a down payment. For the rest 15.000 euro the customer has to take out car financing himself. now they have the choice between 2 types of financing:

The customer can finance the car via the dealer or through the bank finance. His house bank offers the loan at an interest rate of 4.99 percent and the interest rate of the car dealer is 3.99 percent. If the customer opts for the house bank, he can appear as a cash payer at the car dealer and receive a discount of up to 30 percent.

So the exact difference between the interest rate of the bank and the interest rate of the dealer is 398 euro. At the end of the day, the bank has the better conditions. In this case, the monthly loan installment is around 250 euros.

Increasing the chances of credit

Every customer can increase his or her chances of getting a car loan by naming a guarantor or a second borrower nominee. However, such a person must necessarily be solvent! In addition, the guarantors must be informed in detail about the risks they are taking on with a guarantee. Regardless of this, the customer’s economic starting position must be sufficient to be able to pay off the car loan.

With such a credit situation, negative SCHUFA entries can also be avoided. With a second borrower or a guarantor, customers can obtain financing with bad SCHUFA from their regular bank as well as from any car dealer.

What online alternatives are there?

The internet offers a variety of different financing alternatives, which are preferred by more and more customers compared to classic loans. In most cases, these are so-called P2P loan offers, such as those from auxmoney and smava, or specialized intermediaries, such as bon-kredit. Below we have listed some reputable providers for you.

Nevertheless, you should be sure to note, that serious negative features, such as a warrant of arrest, an affidavit, judicial debt collection or ongoing insolvency proceedings can lead to exclusion from the platforms or. The credit is not approved.

credit free car loans through credit intermediaries

• Reputable credit brokers have good and varied contacts with banks and other institutions that allow financing even in difficult cases.
• reputable providers waive upfront costs! A brokerage fee is only charged at the time of conclusion and is combined with the loan amount.
• The maximum credit amount for serious offers is, however, at ca. 10.000€ capped.

A car loan without schufa at bon-kredit

Bon-kredit has been working in the industry for more than 40 years and is an experienced, private credit broker through which many of our readers have already received a loan despite poor credit rating.

The company cooperates with many well-known banks and only charges a commission if the mediation was successful (offset against the loan amount). Bon-kredit finds consumers favorable loans for car purchases and even if the potential borrowers have a negative SCHUFA entry.

Thus, the application usually does not fail because of a negative SCHUFA score. Furthermore, with bon-kredit you can enjoy favorable conditions and never have to pay any upfront costs. every credit request is always non-binding and free of charge. The purchase price of a new vehicle may maximum 7.500 euro are. Thus, the provider is less suitable for expensive or new cars. However, bon-kredit is ideal for financing a used vehicle.

• car loan with online instant check
• Even with a negative SCHUFA, approval is usually fast
• The online offer is fair, transparent and guaranteed without any upfront costs
• SCHUFA neutral inquiries
• Online, completely without paperwork possible

• Max. 7.500€ financeable
• Depending on the risk quite high interest rates

Car financing through MAXDA

the credit broker is probably familiar to most consumers from tv and radio commercials and is one of the largest financial service providers in germany. MAXDA gmbh was founded in 1983 and offers, among other things, customers with a SCHUFA entry special loans from 3.000 to 100.000 euro.

Interested parties can submit a non-binding, free application and receive professional advice. You do not pay any upfront costs with MAXDA and the application does not fail because of the SCHUFA file. But a verifiable income is mandatory!

• Low-cost car loan with fast online instant verification
• MAXDA is fair and serious and every inquiry is free of charge and non-binding
• Even borrowers with SCHUFA record get fast approval
• The online offer is fair, transparent and guaranteed without any upfront costs
• SCHUFA-neutral inquiries
• Online, completely without paperwork possible

• Quite high interest rates depending on risk

New and used car financing with creditolo

creditolo, the private credit broker, offers clever solutions for various types of financing. creditolo gmbh was founded in 2006 and has its headquarters in halle. There are online loans for self-employed, owners, credit retraining and loans without SCHUFA check.

With the latter, there is no check of the SCHUFA file and therefore negative entries have no influence on the granting of credit. the trained bankers advise the customers without any upfront costs and find a suitable financing within a short period of time. Thanks to the online ID procedure, potential borrowers benefit from fast credit approval and can dispose of their money promptly.

• Inexpensive car loan with fast online instant check
• Active in the industry for over 10 years
• The SCHUFA score has no influence on the granting of credit
• Serious and no upfront costs
• SCHUFA-neutral inquiries
• Online, completely without paperwork possible

• Depending on the risk quite high interest rates

The credit-free financing via private loans

The "kreditprivat" from smava

smava gmbh was founded in 2005 and launched 2 years later as the first german fintech company. borrowers get a comprehensive market overview of more than 70 loans from 25 financial institutions. smava brokers loans totaling over 1 billion euros per year. Smava offers a reliable solution even for consumers with a moderate credit rating.

The platform gives customers the chance to finance their new or used car even if they have negative SCHUFA. The private lenders on the platform also invest in moderate credit rating. With "kreditprivat" from smava (in cooperation with fidor bank AG), you take over the financing of the car.

• Also for self-employed
• Free repayment at any time
• Request free of charge and without obligation
• SCHUFA-neutral inquiries
• Online, without any paperwork possible

• Depending on the risk quite high interest rates

• First you choose your individual financing request between 1.000 euros and 50.000 euro and specify the desired amount together with a suitable term. This will determine the amount of the monthly installments and the interest rate.
• After that you enter all necessary personal data. This means that all credit requirements, such as your age, place of residence, and bank account and disposable income, can be checked. Based on the individual income level, potential lenders can assess whether you are a suitable borrower for car financing and can repay the installments.
• All data is transferred via a secure SSL connection. In addition, your data is subject to data protection and this is reviewed annually by TuV and subsequently certified.
• In the third step, you select the appropriate smava offer and then receive all personal offers for car financing with negative SCHUFA. Should you decide to finance despite SCHUFA entry, choose a suitable kreditprivat offer.
• As a rule, private lenders invest quite quickly and usually within the first 24 hours. Currently, it takes an average of only 6.5 minutes from application to full auto financing. So you get the necessary money for the car purchase quickly paid out.

Find a credit-free online car loan via auxmoney

the well-known online platform of auxmoney mediates between lenders and borrowers and enjoys great popularity. peer-to-peer loans have been brokered via the online marketplace since 2007. According to their own information, more than 70.000 loans financed with a gigantic volume of over 485 million euros. The platform has more than 1.5 million members and a huge 67 percent share of the German crowdlending market.

auxmoney gmbh has been headquartered in dusseldorf since 2010 and received venture capital of $12 million in early 2013. You can use the platform to find an individually suitable loan in a short time, even if you have a negative SCHUFA entry. you only pay a fee if a referral is made.

This mediation but is different from the other presented providers, not guaranteed and also depends on how you present yourself in your personal credit application. Because in the end, private lenders decide whether they want to lend them money. the fair brokerage fee is 2.95 percent of the loan amount and is already included in your monthly loan payment.

• Serious, experienced and well known
• Many lenders, fast online application and application process
• Unscheduled repayments are possible at any time
• Serious and without any upfront costs
• SCHUFA-neutral inquiries
• Online, no paperwork required

• Financing is not guaranteed to materialize
• Depending on the risk, interest rates are quite high

Important information about the online offers

All listed online providers are perfect reputable companies, which can provide you with a credit without SCHUFA entry, despite a bad SCHUFA score and without a SCHUFA query. The best thing is to get a free offer for a suitable loan from each of the online providers listed above and then select the best offer for your individual needs. With none of the providers you will incur costs for the pure credit request!

Financing a car without a SCHUFA inquiry via an online provider – advantages and disadvantages

If, in the case of a negative SCHUFA, both financing without a SCHUFA check and a normal car loan are feasible, our professionals recommend classic financing in almost all cases. The most important advantages and disadvantages are summarized below:

• You will receive an approval even if your SCHUFA is very poor
• By financing you do not get a new SCHUFA entry
• online financing has no influence on your current or future loans
• Serious and without advance costs
• SCHUFA-neutral inquiries
• Online, no paperwork required

• The interest rates are noticeably higher in comparison to classic financing
• There are stricter requirements with regard to length of service and net income
• You will only receive credit in the amount of 3.500, 5.000 or 7.500 euro (with private loans from auxmoney or smava possibly. More).

Another alternative is to have your car financed by the job center

recipients of hartz IV often have great problems finding a new job, because in most cases they do not have their own car. the banks do not give to people, who are dependent on hartz IV, usually a credit and also the car dealers behave rather cautiously.

In such a case, financing (on the basis of § 16f SGB II free funding) through the responsible job center could be an alternative solution, even with a bad SCHUFA. Of course, the maximum possible credit amount will only have a small volume (about under 5.000€). However, with this amount you can buy a small car or at least a used car.

The credit is approved only after a careful examination of the individual facts of the case. the customers pay back the money in monthly installments afterwards. Interest is usually not charged.

FAQ: frequently asked questions

If you don’t need another vehicle, you usually don’t have the necessary money for the car purchase on your account. Therefore, a complete or at least partial car financing is common. If there are already other credit agreements, most credit institutions find it difficult to provide additional financing.

Basically, the small private financial institutions are the focus here rather than the well-known large financial institutions. The reason is logical: in the smaller private banks, unbureaucratic solutions may be feasible, since real people and not computers make the decisions here. This means that you may be able to get a car loan from a small bank even with a negative SCHUFA.