To do this, other requirements must be met in order to get a car loan.
Without credit bureau reasons
There can be various reasons why consumers are looking for a car loan without credit bureau information. In the first place, these people have a bad credit bureau. This can prevent borrowing. Too many negative entries mean that the credit rating is missing. This means that no loan can be taken out. Even if the salary is high enough, banks don’t lend.
Another reason for this may be that the credit bureau should remain unencumbered for later loan requests. Thus the borrowing would not appear in the credit bureau and the bank would not know anything about the loan.
Many simply don’t want any entries. However, the prerequisite must be met in order to apply for the loan.
Requirements for a loan without credit bureau
The car loan without credit bureau information can only be granted if the customer can adhere to the guidelines. In addition to the age of majority, an employment relationship of unlimited duration is necessary. This employment must raise enough salary to be attachable. Many providers require the presentation of bank statements.
For self-employed people, it is often the last three to six, for employees only one to three bank statements. This enables the lender to see whether there is any attachment. The finances are very important because the credit bureau is no longer available. Because the score usually provides information about how high the credit default risk is to be classified.
For a car loan without credit bureau information, the credit bureau remains unchecked. Therefore, proof of creditworthiness must be provided through employee income subject to social security contributions.
Loans are also possible with low income
If you have a low income, you can still take out the car loan without credit bureau information. In the case of personal loans, it is possible to use a guarantor or a second applicant to help. The additional security improves the applicant’s creditworthiness. This variant would be possible, for example, for car loans despite credit bureau.
The lower the income, the more the lender will take credit risk. The loan amount thus remains small. A good used car can be bought with the small loan. But if you have a good income, you can go another way to take out the car loan without credit bureau information.
Guarantor and second applicant – conditions
Should a guarantor or a second applicant serve as security for the car loan, both must meet the same requirements. As with the borrower, there must be income and a good credit bureau. There is a difference between the two. The guarantor is only liable for the car loan without credit bureau information when the loan is no longer paid off.
The confirmatory applicant is immediately taken on. So both have a responsibility in their own way. The guarantor may not be used at all. The guarantor or second applicant cannot be used for the foreign loan.
The bank in Liechtenstein expects the borrower to be able to pay for the loan independently.
Car financing without credit bureau – that’s how it works
In order to avoid the credit bureau test, consumers can apply for auto loans without credit bureau information abroad. To do this, the applicant does not have to go abroad, but uses the Internet. A loan from Liechtenstein is offered to German citizens. However, this is limited to a maximum of 7500 USD. In order to receive this sum, a minimum income of 1800 USD must be proven. Those who do not have this income can also opt for a 3500 USD or 5000 USD loan.
A minimum income of 1150 USD is required. The car loan is offered without a purpose. So the customer can use the money to finance a car or make another purchase. The loan has a fixed term of 40 months. The application is downloaded from the Internet. The application is made by post and postident.
Car loan without credit bureau information – documents
In order to apply for the car loan without credit bureau information, various documents must be submitted to the lender. In addition to the proof of salary and bank statements, the Postident form is also important.
The Postident procedure is used to identify yourself. The borrower must submit the form sent to a post office. There the ID card is compared with the person and the identity is confirmed. The customer, like the lender, is on the safe side.
Nobody can make such an application for a car loan without credit bureau information on behalf of another body. A copy of the ID must also be available.