Requirements for financing a used car

You want to finance a car? Depending on the bank, you can take out a loan for a small amount at good conditions and invest in a vehicle – but you must first submit a loan application. This is checked by the toyota credit bank of a bank and approved in the normal case quickly and without objections.

In order to be able to take out a loan in germany, you must regularly submit meaningful documents. After final verification of your application you will be approved for a loan.

What information does a bank need for a used car loan??

To finance a used car in germany, you must have the following requirements:

  • Age of majority: whether used car or not, in germany a loan may only be taken out from the age of 18 years onwards.
  • main residence in germany
  • German account: the bank is not crucial as long as it is a german account.
  • Regulated income: a regular income is basically important for taking out a loan.
  • Sufficient creditworthiness: the schufa information indicates this. It is the largest piece of information about a person’s creditworthiness and calculates it by looking at a person’s past purchases and buying patterns. If a bill has not been paid, this can lead to a schufa entry under certain circumstances, which in turn can reduce your creditworthiness.

The following information must also be provided before a bank will grant a car loan:

  • Proof of salary: they must be up to date.
  • Bank statements/tax statements: this must be presented in particular in the case of self-employment, in order to be able to prove the necessary liquidity.
  • Proof of purchase: the sales contract or the registration certificate II are sufficient for this purpose.
  • Vehicle specific information: vehicle make and model
  • Current mileage
  • First registration: this date is of course only for used cars

The listed certificates are particularly relevant if you would like to take out a financing online.

Calculate your car rate now: would you like to know how financing could look like for your used car? Calculate now in the rate calculator!

With the help of our budget calculator you can easily find out what your dream used car including financing may cost per month.

With the the financing options from toyota, you can finance your car according to your needs: you decide whether you want to make a down payment or a. want to make a trade-in and/or pay a higher final installment. In the event of a down payment, you can choose the amount individually. You can choose flexible terms between 24 and 72 months.

If you want to be sure about the financing of your used car, your toyota dealer can offer you the following services used car financing safetyfinance. Financing includes an extended vehicle warranty. With it you get up to 6 years warranty and a europe-wide mobility guarantee in case of a breakdown. Interest aroused? then inform now at a toyota dealer of your choice.

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