One problem that is raised again and again is that an entry in the schufa generally makes life more difficult. Smaller contract types, for example mobile phone contracts or installment payments can definitely be obtained. Larger contract types, especially if they refer to higher sums of money or services, which are paid out or settled in advance, are a completely different issue. Not only do simple loans fall into this category, but also the financing of a car with schufa entries. Is the car loan despite schufa at all possible? One thing should be said in advance: although it is certainly possible to obtain a car loan despite schufa – for example, via a private loan – it is much more likely that the car loan will be given despite schufa. This article deals in more detail with the car loan without or despite schufa.
Why take out a car loan despite schufa at all??
Two reasons explain this. On the one hand, a new or used car is expensive and can seldom be paid for out of pocket. On the other hand, there may be schufa entries that explain the requirement for a car loan despite schufa. The question now is how the credit check can be circumvented so that a genuine car loan can be obtained without or despite schufa. There are several ways to do this:
– private financing – this is the easiest and guaranteed way that schufa is not involved. in this case the money is advanced by a friend or family member and is paid back to him afterwards. In many cases, this principle works for used cars with a lower purchase price. One advantage is that private individuals are often more relaxed about repayment, and it is no problem to pay higher installments or to pay off part of the loan earlier if income changes or there is a bonus payment from the employer.
– offers from credit banks – there are various banks that offer a car loan despite schufa. The banks are often located abroad and for this reason cannot access the credit check of the schufa at all. Many providers come from austria or switzerland – both countries that have their own institutions like schufa, but the institutions cannot access or request data from citizens of other countries.
– financing at the dealership – in addition to house banks, car dealers also offer a car loan. Here, the credit check often takes place in the background and is part of the normal course of business. Without the schufa it often does not work here, but the car loan can be possible despite schufa.
– house bank – the house bank knows best about the income and expenses of customers. This can make taking out a car loan much easier, even though a credit check is often automatically obtained. In spite of the schufa, a car loan is quite possible here, with the appropriate income.
With these solutions at least the purchase of a new car is conceivable and often possible. Nevertheless, no one should rush ahead without thinking and simply take out a car loan without or in spite of schufa. There are always individual factors that need to be considered.
Considerations before car loan despite schufa
As with any purchase, it is important to check carefully whether the investment is possible at all, even with a car loan. This does not even mean taking out a loan, but rather whether the car can be financed with all its purchase and ancillary costs. After all, vehicles not only incur purchase costs, but also maintenance costs that cannot be wiped off the table: fuel, repairs, equipment such as winter and summer wheels, inspections and of course insurance. Car owners have a direct influence on some factors, for example by filling up at cheaper gas stations or by comparing car insurance policies.
Indirectly, you can influence the price of tires or find a cheaper repair shop for an inspection. But again, this only works if the car loan does not stipulate the use of contract workshops. car owners have absolutely no influence on repair costs. Of course, if possible, a cheaper workshop can be visited, but if repairs are necessary, they cannot simply be postponed. And, as everyone knows, car defects and the associated repairs always occur at a time when money is tight anyway. Cars probably conspire against their owners. In addition, other factors related to the car purchase must be taken into account:
– security of the installment payment – for a credit, however it is procured, costs are incurred. Fixed monthly installments must be paid, which are always collected from the account. If the direct debit does not work, the lender is directly in a position of suspicion and quickly threatens to dissolve the loan. a horror scenario that always ends in a new schufa entry.
– amount of the credit installments – even if a loan for the car purchase is obtained, quite a few car buyers do not know how high the installments actually are. Before taking out a loan, it is therefore always necessary to draw up a fixed installment plan and to think carefully about how high the installments can actually be. There should always be something left over from the monthly income when all fixed costs are deducted. Otherwise, it is not possible to make repairs or even important purchases for the household, children or general life.
– length of the credit – how long is the car loan paid off at all despite schufa? The longer the loan, the lower the installments. However, there are now also higher ancillary credit costs. Car dealerships or banks also want to get their advanced money back quickly, so long terms are not as easy to obtain. It should also be borne in mind that the vehicle does not become the property of the buyer until the final costs have been paid. Up to this point, the motor vehicle title is held by the lender.
– additional costs of the credit – every loan is associated with interest. These are already higher, if an entry in the schufa exists. in the case of a loan from a foreign provider, the buyer may also incur additional costs. processing fees or other incidental costs are often regulated completely differently in other countries.
Everyone should make therefore for itself an exact listing:
– monthly income
– monthly expenses
– reserves for emergencies
Of course, no fibbing is allowed here. Especially the monthly expenses must be absolutely correctly written down and considered. The ordinary reserves are amounts that cover normal purchases or costs: if the utility bill is higher, the rent is increased or if the washing machine or the car breaks down, the amounts are paid from this reserve pool.
The emergency reserves are on a completely different sheet of paper. They only serve absolute emergencies and have to cover times and costs that no one can influence. Particularly worthy of mention here are the loss of a job, prolonged illness, or loss of income related to the family. The reserves should build up in one year so that at least the difference between the old salary and the normal unemployment benefit can be covered over a few months.
How can the car loan despite schufa?
Many schufa entries have already been settled, but are still in the information file and affect the score. higher debts are only deleted after three years, amounts up to 1.000 euro already after one year. it is therefore very possible that the financial difficulties have long been solved, but without a close look continue to lower the score at schufa. For the car loan despite schufa, some preliminary work must therefore be done:
– income – salary statements, additional pensions or even income from accident insurance are submitted here. The papers must show the actual income each month and that it is possible to pay off the loan.
– expenses – many lenders do not expect this listing, but it is always good to have it at hand. It can often be used to influence the length of the loan, for example.
– securities – If there is collateral, such as a home, life insurance or private accident insurance, the evidence is taken to the credit interview. The lender now sees that he can access these contracts if necessary, if the loan could no longer be paid by other means.
– equity capital – the higher the equity, the lower the loan and therefore the lower the rates. By the way, this is where credit or loans from family or friends come into play. Since private individuals are seldom in a position to advance the purchase costs in full, they can at least help out with part of the financing.
– by the way: many private persons believe that they cannot sue for a private loan if necessary. This is of course already possible. For this, however, a contract should be drawn up in advance, in which both parties involved, the amount of the loan, the installment amount and the presumed length of the repayment are stated. The amount can of course often be discussed well with friends, also friends more often waive the complete rate in a month, if emergency costs are pending. If no money is received at all, private lenders can of course apply for a default summons and thus initiate compulsory enforcement. You have performed your part of the service by handing over the money and the debtor has not fulfilled his obligations.
When looking for a provider, you now only have to make sure that the car loan is actually granted without the schufa – in this case, there is no credit report and the request for the loan is not stored in the schufa under any circumstances. If the offer is only in spite of schufa, less attention will be paid to the credit check. However, one thing is important here: the credit inquiries should never be reported to schufa – especially when comparing costs and obtaining several offers. If this is not the case, the schufa score is automatically lowered, because schufa assumes that only several inquiries were made, because the previously requested lenders declined the loan.
Conclusion – temporary documents and proofs are a prerequisite for the car loan despite schufa
With the right evidence of assets or monthly income and expenses, it is quite possible to obtain a car loan despite schufa or despite schufa. However, just if the incomes lie in the middle range, exact considerations must be made. The monthly costs must never be glossed over, no one should do without reserves and if the credit rates mean that there is absolutely no margin between income and expenditure, it is better to think about a much cheaper car instead of the expensive new or used car.