Car loan despite credit – is that possible?

In principle, the question of whether a car loan is possible despite a loan cannot be generally assessed. Too many and sometimes very different fractions play a role. In any case, the lender will always consider the personal and financial situation of the customer and only then decide whether a car loan can be granted despite a loan.

Bank loans

Bank loans

Anyone interested in a car loan despite a loan should have an income that is high enough to allow them to pay the installments for the existing loan and for the new car loan. As long as the customer pays his loan installments on a regular basis, most banks don’t care how many loans they have. However, there are always problems if he stops all or part of the installment payments. In extreme cases, this can lead to the termination of the loan contract. The bank would always be entitled to do this if the customer fell behind with two or more credit installments. Before that, however, a written reminder must be issued, which must also be combined with a notice of termination. But it shouldn’t go that far. Therefore, it is strongly advised to always talk to the bank in the event of payment difficulties and to strive for a common solution.

The easiest way to obtain a car loan is to get it from the house bank, despite the loan. This is especially true if there is a long-standing business relationship and therefore a particularly trusting relationship. Sometimes it is also possible to merge an existing loan with a new car loan. This has the advantage that only one installment then has to be paid to one place.

Dealer loans

Dealer loans

If the conditions are right, most car dealers will have no problem with car loan despite credit. This is especially true when the customer is willing to pay a larger down payment for the car. By storing the vehicle registration document throughout the entire term and taking out comprehensive insurance, the car dealer would have additional credit security. In some special cases, he may also be willing to provide a dealer guarantee.

Loans without Credit bureau

Loans without Credit bureau

A car loan despite a loan is not only available in Germany, but also abroad. In principle, the Credit bureau information is never requested. However, this does not mean that a car loan can be granted without any collateral, despite a loan abroad. The Good lenders in particular strictly ensure that the customer is an employee and has a secure income. He must also be able to prove this at any time using written documents, such as the employment contract.

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