Financing refused? Car financing without schufa

you would like to finance a car, but your financing has been rejected by the lender? Now you are looking for car financing without schufa information? Then you are right here, because we are of the opinion that there is a financing without schufa information very rarely or not at all! Find out here what this is all about and what possible reasons there are for refusing car financing.

Possible reasons for refusing car financing

Financing Rejected

lenders are concerned about getting their money back safely. Therefore, strict rules apply to the granting of a loan for car financing. A possible reason for rejection may be the nature of a contract its. If this exists only in the probationary period or is temporary, then this is considered a risk of loss of earnings and thus a threat to the repayment of the car loan. Even a too low an income in a permanent employment contract after the probationary period is risky. The applicant could be subject to special charges that make repayment of the car financing temporarily or permanently impossible. The following are considered grounds for refusal in any case chargebacks, even if this appears only once on the account statements of the last three months. These are possible reasons for not obtaining car financing if the applicant can otherwise demonstrate "orderly financial circumstances.

Too short self-employment, bad SCHUFA and other reasons

Who self-employed for less than three years even if your business is flourishing, you risk provisional rejection of your application for car financing. If the dispokredit just overdrawn this is also considered an exclusion criterion due to the risk of financial distress. Other reasons for refusal are Concealed leasing contracts or framework loans, a maximum age above the approval limit, debt collection or negative credit entries.

A negative SCHUFA has a significant impact not only on the approval of a car financing. Generally, people have difficulty opening an account, making installment payments or renting an apartment. cell phone contracts, purchase on account, credit card applications or applications for an EC card are impossible in this case. The visibility of negative SCHUFA entries is ten days for taking out loans or opening accounts, and three years for loans, payment irregularities and data retrieval from debtor lists from the expiry of the loan, the end of repayment or settlement. Even if a high down payment is offered when applying for car financing, most contractual partners reject the financing via follow-up rates.

However, if you actively work on settling financial irregularities after they have occurred, you can quickly improve your SCHUFA again. If small debts have been paid in full no later than one month after the entry on an undisputed claim, the entry will be deleted early at the request of the payer. After a registered affidavit has been filed the creditor must confirm the cleared claim in a settlement letter. SCHUFA receives immediate notification of this from the relevant local court. It is not sufficient to apply to the SCHUFA for deletion yourself. Instead, the satisfied creditor must become active. Before submitting a planned application for car financing, every applicant should therefore request a self-assessment from SCHUFA. Once a year is free of charge. if necessary, obsolete entries can be deleted in time.

Car financing without SCHUFA

Credit offers that advertise with the slogan "without SCHUFA" do not simply grant loans blindly. Because these providers also check SCHUFA with a high degree of probability in order to be able to assess the creditworthiness of the customer and the lending risk for a loan. Often the slogan means that there will be no subsequent SCHUFA entry. There are however offerers the respectable credits assign, even if it already times to a negative SCHUFA entry came.

credit without SCHUFA at bon-kredit

one of these providers is bon-kredit. Bon kredit grants loans with and without SCHUFA information. loans with SCHUFA are usually granted at more favorable conditions. If, in the course of a check, it is determined that a credit with SCHUFA is not possible, then as a second possibility checked if a credit without SCHUFA can be offered.

Requirements for a bon-credit

  • Age of majority
  • Residence in germany
  • Regular income as an employee, civil servant, pensioner or self-employed person

If there is no regular income, the applicant needs a guarantor who fulfills the above requirements. Bon-kredit advertises that a negative SCHUFA entry usually not a problem is.

Advantages:

  • Fast and discreet processing via mail or e-mail
  • Offer is free of charge and non-binding
  • unscheduled repayments are possible at any time free of charge
  • Clearly understandable offers from up to 20 banks
In 3. steps to the credit without SCHUFA
    select loan amount and desired rate
    In the first step, you select the credit amount and the desired monthly rate. In addition, choose a purpose for the loan. This helps the lenders to assess the risk. Name, address and contact details
    in the second step, your contact details are requested. This includes the title, first and last name, address, date and place of birth, telephone number and e-mail address. You will also be asked for your profession. here you can choose between employee, civil servant, worker, pensioner, self-employed or housewife/husband. The last rider is a trainee, unemployed, or on social assistance. information about salary, monthly expenses, property
    the third step involves information about the salary and the employment relationship. Also, the rent expenses are asked, as well as the number of children and alimony payments or income , if any are available. If you have a secondary income or property, you can also declare them.

Alternatives for car financing

Alternative car financing

If a car is really indispensable, but cannot be financed because of the reasons for refusal, the following risks can occur cheap used cars temporarily make the mobility. The risk of "catching" a car in bad condition is acceptable with reputable used car dealers. Caution is advisable with "bargain offers", for example with the note: "but the offer is only valid until…"

personal loans are much more expensive than regular car financing. Nevertheless, in an emergency they are an alternative to become mobile. There is no guarantee that the applicant will receive this personal loan. because even such providers first check the SCHUFA and the creditworthiness of the customer, in order to keep their own lending risk low. In addition, there are advance notices that are subject to fees, which do not always lead reliably to the desired personal loan.

Good preliminary research is essential when borrowing from foreign banks is advisable. But the effort is worth it! Because very many of them work seriously, at acceptable interest rates and with a high guarantee for a credit granting. However, such evasion options should remain the exception. Because the interest rates are generally very high and the fees are expensive. And even with such loans, only timely and full repayment ensures that future financial problems will not get worse.

Risks to consider

Lenders have plenty of experience with bounced installment contracts. Their caution should not be seen as a criticism by applicants. Sometimes things happen that the inexperienced private person does not foresee. For example, what if the installment payment is already on shaky ground, but an accident makes the car unusable?? If, for example, the debt issue leads to disadvantages in the compensation of damages by the insurer? Is there possibly the possibility to procure a purchase price for a car completely in the kinship? This may occasionally create embarrassing family liabilities, but the risk of deeper debt is less than with outside institutions. car financing quickly creates a solution for future mobility. But the period during the repayment of the loan requires special care – ideally even before the purchase of a car.

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Christina Cherry
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