First of all, a loan for the driver’s license is possible despite Credit Bureau. However, there are a few things to consider. The customer can save himself the trip to the house bank, and many direct banks from the Internet also refuse a loan despite Credit Bureau. Special providers are in demand here, which can also be found on the Internet.
The credit for driving license despite Credit Bureau – the prospects
For many consumers, driving a piece of freedom. However, a driver’s license is required to be able to drive a car even on public roads. However, this is associated with some costs, which especially young people do not have. But there are also adults who are urgently dependent on the driver’s license. Many have no way to get to work without a car.
Usually, borrowing is not a big deal, you go to the bank and make the loan application. But banks have rules that apply to a loan request. In addition to sufficient income, this also includes a clean Credit Bureau, for example, if you inquire at your house bank or another branch bank and a bad Credit Bureau is found, there will be no credit for the driver’s license despite Credit Bureau.
The risk of default is too high for the banks, because the negative entry in the Credit Bureau signals to the bank that there have been payment problems in the past. A credit for the driver’s license despite Credit Bureau is not approved by a German bank. The customer has a view abroad.
The financial market also shows providers for this loan request who also approve a loan, even if the credit rating is not so good. A driver’s license is not exactly cheap, but is still possible with its loan amount. A loan comparison can be used to find a loan offer that is also affordable.
It is important to pay attention to the annual percentage rate, because this includes the entire cost of a loan. Care should also be taken not to set the rates too high. After all, if you don’t have a perfect credit rating, you probably don’t have a particularly large scope for a rate. In general, the rate should always be adjusted to the available income.
So there is no credit default, which further reduces the credit rating. Driving schools often also offer a loan. Then they work with a partner bank that provides the loan. The extent to which a negative entry in Credit Bureau influences this loan would then have to be questioned. Normally, German banks do not agree to grant a loan if the Credit Bureau is negative.
The entry in the Credit Bureau
A loan is usually rejected because of a negative entry in the Credit Bureau, whereby the entries are evaluated differently. So there are soft and hard features. One speaks of a soft feature if the entry was made on the basis of an unpaid invoice. This could have been an accident, for example, you didn’t meet the required deadline and paid too late.
The hard entry is shown in a garnishment, an oath of revelation, a foreclosure or in a private bankruptcy. This entry no longer allows credit, the banks rigorously refuse. While in the case of a soft entry, a bank could still agree to approve a loan for the driver’s license despite Credit Bureau. If the application is made to the bank, where the account also exists, in the past there were no abnormalities apart from the soft characteristic in the Credit Bureau, there could still be a loan. A clarifying discussion with the bank is often sufficient here.
In the case of a young applicant who already has a negative entry, the bank will ask for a second borrower. This can be the parents or the grandparents. However, they must have a good credit rating with a clean Credit Bureau and a sufficiently high income. It is also better to submit a loan application where it is still being checked on a case-by-case basis and the automated test procedure is not used.
The loan from abroad
If all banks have rejected, the only way out is a Credit Bureau-free loan from abroad. Since 2010, almost all of these loans have come from Liechtenstein. The Credit Bureau does not matter, but the income must be above the garnishment exemption limit and a permanent job must be available. In addition, the customer must be of legal age and reside in Germany.
The loan amounts that are offered should be enough for a loan for the driver’s license despite Credit Bureau. Most are approved 3,500 dollars, which is paid at a rate of 105.00 dollars for 40 months. There is also 5,000 dollars which has a rate of 150.00 dollars and also has a term of 40 months.
Since the loan is secured by income, the customer must sign a garnishment declaration. If there are any payment problems, the bank immediately seizes the wages. Therefore, the installments should be paid on time, because nobody wants to expose themselves to the embarrassment of a garnishment.
These loans can be searched on the Internet, usually a credit broker is upstream on the displayed pages, who takes care of the credit process, but also receives a commission.