Basically, it is very difficult to get a car loan with a final installment without Credit Bureau. Many banks only offer a classic car loan, where the Credit Bureau information must be in order. Otherwise the customer’s credit application will be rejected immediately.
An exception can only be made in the case of minor negative entries. If you are looking for a car loan with a final installment without Credit Bureau, you should find out exactly who offers such a loan and what the requirements are.
Without exception, all German banks or savings banks check the creditworthiness of the customer when applying for a loan. Regular income and positive Credit Bureau information are particularly important. However, a car loan has the advantage that the loan amount by car is offset by a specific value that can be used by the bank as collateral if necessary. This will always be the case if the customer falls behind with the payment of several loan installments.
A car loan with a final installment without Credit Bureau is only available from a foreign bank. As a rule, a secure income and permanent employment are required there. Another option would be to contact a private loan broker who will try to find a final installment car loan that is tailored to personal needs.
However, no one can guarantee successful loan brokerage. Different statements are dubious and should always be viewed with extreme caution.
If you are looking for a car loan with a final installment, you will find it more easily at a car dealer than at a bank. Under certain circumstances, this loan can even be granted if there are minor negative entries at Credit Bureau. This would be the case in particular if the car dealer and the customer have a long-standing relationship of trust and the dealer can be confident that the customer will return the money properly and on time.
A car loan with a final installment, regardless of whether it is granted with or without Credit Bureau, has not only advantages but also disadvantages. The high final rate, which is usually in the four-digit dollar range, must be financed. With a loan from a car dealership, however, there is the option of returning the car at the end of the term and repaying the final installment in this way.