Car loan despite temporary work – loan request from the bank
When a loan is required, many consumers first speak to their bank. The most popular banks are the Lite Lender or the Capital Lender.
Car loan despite temporary agency work – keep up with the times
More than two thirds of all Germans are customers of these institutes. Bank customers who want to apply for a loan from their bank must make an appointment with their customer advisor.
For a car loan despite temporary work, applicants need a valid ID and, if possible, an offer from a car dealer. As with any credit transaction with a German bank, a credit check is carried out at the bank and credit bureau information is obtained. Depending on the number of earnings and the scoring of credit bureau, the customer advisor can approve a loan. In all likelihood, however, only a very low loan amount with a short loan term is approved.
If the loan amount granted is not sufficient, you can ask the bank’s customer advisor whether additional loan collateral enables a higher loan offer. Many banks often accept property or personal collateral for lending transactions.
Additional loan guarantees – this is how many banks behave
A borrower who applies for a car loan despite temporary work at a bank is usually not considered to be particularly creditworthy. This situation can be improved with additional loan collateral.
To secure an installment loan, many banks accept so-called property or personal security. The following can be used as security for the lending bank, for example:
- property values
- fixed savings
- Vehicle letter
Those who cannot offer these guarantees should know a liquid guarantor or be able to offer a second applicant for the loan agreement.
As a guarantor, banks only accept people with a high level of liquidity. A surety can come from relatives or friends. Your second applicant is your partner or spouse. For these people, usually joint and several liability is agreed for the entire term of the loan. According to this agreement, a guarantor or a second applicant is immediately liable in the event of a loan default. The bank does not have to wait for judicial dunning proceedings.
Co-applicants are also liable after a separation or divorce.
Autobank – different loan models are possible
Much of all motor vehicles are now financed. Financing is also possible directly from a car dealership. The banks that provide these auto loans are usually a bank that belongs to the auto group. Dealers who are not tied to a brand work with a cooperating bank.
These banks usually always offer two different financing options for car buyers. This includes a classic installment loan and a so-called balloon financing. With both financing options, car buyers can make a down payment. If an installment loan is chosen, the borrower must transfer equal amounts from the first to the last installment each month.
After the last installment, the borrower owns the purchased car. In the case of balloon financing, low monthly loan rates are agreed. This leaves a high final rate at the end of the financing. The final installment can be paid in full or further financed with a new loan. A car loan despite temporary agency work is usually not approved by these banks.
Car finance – loan marketplaces on the Internet
Since a car loan is very difficult to obtain despite temporary agency work, consumers nowadays have to go different ways to get financing. One of these options is offered by online credit marketplaces.
The loans are made available on credit marketplaces by private donors and selected financial institutions. The term personal loan is often used. This form of credit is also offered by Smava. On the credit marketplace, consumers can apply for installment loans of between 1,000 and 50,000 USD.
Loan terms of up to 12 years are possible. The application is made online. An additional applicant is possible and can have a positive impact on funding. After entering the personal data, Smava will request credit bureau information. If this information contains hard negative characteristics, the applicant will be rejected. If a promise is made, the application is completed with information on income and expenses.
The portal’s funders can now submit loan offers. If the applicant has decided on an offer, a contract can be concluded.
Loan brokerage – additional loan collateral
If you have been rejected by a bank or do not want to work with the lenders of a credit marketplace, you can also contact a reputable credit agency. Credit intermediaries are financial service providers with authorization according to Astro.
This approval makes it possible to broker loans. These financial service providers work with numerous banking s so that credit intermediaries can offer consumers a wide range of credit models. Almost all credit agencies offer loans with or without credit bureau information. For a car loan despite temporary work, the credit bureau-free loan is not a solution because the credit requirements cannot be met.
Anyone who applies for a car loan with credit bureau through a credit agency must offer additional loan security as a temporary worker. Almost all intermediaries accept a guarantor. In addition, this guarantor must at least meet the credit requirements for the selected loan amount. In many cases, a co-applicant is included in a loan agreement as collateral.
If this loan security cannot be guaranteed, a car loan is not possible despite temporary work.
Car loan for temporary workers – be sure to compare
However, the renowned banks in particular want liquid credit customers. Anyone who applies for a car loan at these institutes despite temporary work is therefore often rejected. Additional loan collateral can prevent this refusal. Consumers who have identified various lenders who are eligible for a car loan must compare the offers with one another.
In doing so, special attention should be paid to the effective annual interest rate. Due to the increased credit risk due to temporary work, a lot of money can be saved with this comparison.