One issue 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 certainly be obtained. Larger contract types, especially if they relate to higher sums of money or services that are paid out or settled in advance, are a completely different issue. Here not only simple credits fall into the grid, but also the financing of a car with schufa entries. Is the car loan despite schufa possible at all? One thing should be said in advance: although it is quite possible to obtain a car loan despite schufa – for example, via a private loan – it is much more likely that the car loan will give despite schufa. This article deals in more detail with the car loan without or despite schufa.
Why take out a car loan at all despite schufa?
Two reasons explain this. On the one hand, a new or used car is expensive and can rarely be paid for out of the postage pocket. On the other hand, there may be schufa entries that explain the desire for a car loan despite schufa. The question is now, how the credit check can be bypassed, so that it comes to a real car loan 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 a family member and is subsequently paid back to him. In many cases, the principle works for used cars with a lower purchase amount. An advantage: private individuals are often more lax in terms of repayment, also it is not a problem to pay higher installments or to pay part of the loan earlier if the 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. Banks are not infrequently located abroad and for this reason cannot access the schufa credit check at all. Many providers are from austria or switzerland – both countries that have their own institutions like schufa, but the institutions cannot access or request data masters from citizens of other countries.
– financing in the car dealership – in addition to house banks, car dealerships of course also offer a car loan. Here, the credit check often takes place in the background and is part of the normal operating process. Completely without the schufa is often not possible 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 getting an auto loan much easier, although a credit check is often automatically obtained. Despite the schufa is here, with appropriate income, a car loan quite possible.
With these solutions at least the purchase of a new car is conceivable and often possible. Nevertheless, no one should shoot rashly ahead and just like that take out a car loan without or despite the schufa. There are always individual factors play a role, which must be absolutely considered.
Considerations before the car loan despite schufa
As with every 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 with all its purchase and ancillary costs can be financed. After all, vehicles not only incur purchase costs, but also maintenance costs that cannot be wiped off the table: gasoline, repairs, equipment such as winter and summer wheels, inspections and, of course, insurance. Car owners have direct influence on some factors, for example by filling up at cheaper gas stations or by comparing car insurance policies.
Indirectly can be influenced on the prices of tires or for an inspection a more favorable workshop to visit. But this works again only if the car loan does not require the use of contract workshops. Absolutely no influence car owners have on the repair costs. Of course, if possible, a cheaper workshop can be visited, but if repairs are needed first, they can not simply be postponed. And, as everyone knows, defects on cars 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 purchase of a car should be considered:
– security of the installment payment – for a loan, however it is procured, costs are incurred. Monthly fixed installments must be paid, which are always collected from the account. If the debit does not work, the lender is directly in habtachtstellung and quickly threatens to dissolve the loan. A horror scenario that always ends in a new schufa entry.
– the amount of the loan 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. Therefore, before taking out a loan, always draw up a fixed installment plan and consider exactly how high the installments may be in the first place. 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, the children or general life.
– length of the loan – how long is the car loan despite schufa paid off at all? The longer the loan runs, the lower the rates are. However, higher ancillary credit costs are now also incurred. Car dealers or banks also want to get their advanced money back quickly, so long terms are not so easy to obtain. Here it should also be remembered that the vehicle does not become the property of the buyer until the last expenses have been settled. Up to this point the vehicle title is with the lender.
– additional costs of the credit – each credit is connected with interest. These are already higher if there is an entry in the schufa. When taking out a loan from a foreign provider, it is also possible that the buyer will incur further additional costs. Processing fees or other additional costs are often regulated completely differently in other countries.
Everyone should therefore make an accurate list for themselves:
– monthly income
– monthly expenses
– reserves for emergencies
Here, of course, should not be fibbing. Especially the monthly expenses must be absolutely correctly written down and considered. Ordinary reserves are amounts that cover normal purchases or expenses: if the utility bill is higher, the rent is increased, or the washing machine or car breaks down, the amounts are paid from this reserve pool.
The emergency reserves are on a completely different page. They only serve absolute emergencies and have to cover times and costs that no one can influence. Particularly worth mentioning here are the loss of a job, prolonged illness or loss of income related to the family. The reserves should build up in a year so that at least the difference between the old salary and the normal unemployment benefit over a few months can be covered.
How to conclude the car loan despite schufa?
Many schufa entries are already 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 euros after just 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 must therefore do some preliminary work:
– income – salary slips, supplementary pensions or even income via accident insurance policies are presented 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 list, but it is always good to have it to hand. It can often be used to influence the length of the loan, for example.
– collateral – if there is collateral, for example, a home, life insurance or a privately concluded accident insurance, the evidence will be taken to the loan interview. The lender now sees that he can access these contracts if necessary, if the loan could not be paid in any other way.
– equity – the higher the equity, the lower the loan and thus the installments. Here, by the way, the credit or the loan from the family or friends comes into play. Since private individuals are seldom in a position to fully advance the purchase costs, they can at least step in for part of the financing.
– by the way: many private individuals believe that they cannot sue for a private loan if necessary. Of course, this is already possible. For this purpose, 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 waive more often the complete installment 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 enforcement proceedings. They have their part of the performance after all with the money transfer and the debtor did not meet its obligations.
When looking for a provider, you now only need to make sure that the car loan is actually granted without the schufa – then there is no credit report and the request for the loan is not deposited in the schufa under any circumstances. If the offer is only despite schufa, less attention is paid to the credit check. Here, however, one thing is important: the credit inquiries should never be reported to the schufa – especially in a cost comparison, where several offers are obtained. 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.
Result – preliminary considerations and proofs condition the autocredit despite schufa
With the right evidence of assets or monthly income and expenses, it is quite possible to get the car loan despite schufa or despite the schufa. However, especially if the income is in the middle range, accurate preliminary considerations must be made. Monthly costs should never be glossed over, no one should forgo reserves, and if the loan installments dictate that there is absolutely no wiggle room between income and expenses, it is better to think about a much cheaper car instead of the expensive new or used car.