Car financing and leasing without schufa

Car financing and leasing without SCHUFA

For the vast majority of people, a motor vehicle is one of the most indispensable things in their daily lives. No wonder – after all, almost everyone concerned needs a car to get to work and earn their daily bread.

But very few people can afford to buy a car entirely out of their own pocket and without incurring liabilities. It is therefore common to take out a corresponding loan, which is why the term autokredit has become established on the market. In principle, this is nothing more than a special-purpose installment loan, i.e. a loan that is paid off in monthly installments of the same amount over a certain period of time.

another alternative in the area of purchasing a new car is car leasing. While with a normal purchase, the full value of the car is due immediately and this usually has to be financed, with leasing, the car is merely rented. So the lessee only pays for the depreciation of the car and, on top of that, has the option of buying the car at the end of the term for a comparatively low price.

if you have a not so clean schufa-file, it is hard to get a car-loan at a car-bank or a normal credit-bank, also a leasing contract is not so easy with a negative schufa-file. In the following, we would like to show you in detail what options are available.

car financing without SCHUFA – these options are available to you

The classic way to buy a car – apart from a few lucky cash buyers – is to finance it with a loan.

In principle, it is possible to first inquire at the car dealer about the possibilities of the often advertised "zero percent financing". Although this is usually not the most favorable solution (more on this below), this option should not be completely disregarded.

The extent to which car financing without SCHUFA is feasible depends to a large extent on the personal relationship with the car dealer and on the evaluation of the existing SCHUFA entries by the dealer. For example, if you have known your local car dealer personally for years and have always paid your installments on time, you should explain your personal situation in detail in advance; car financing without SCHUFA should be feasible in any case. The type of negative entry also plays a role, of course; an unpaid bill from a mobile phone provider (perhaps because of a dispute) is to be assessed differently than a notice of termination of an account or an affidavit.

If it is not possible to reach an agreement with the dealer, you can now look for financing without SCHUFA on the Internet. There are in fact numerous offers of which, however, not all are to be classified as serious.

A car financing at a credit bank brings the great advantage that you can act as a cash payer to the car dealer. The fact that the entire loan amount is paid out immediately in the case of an installment loan means that the borrower now has the necessary funds to start buying the car. The result is attractive cash discounts, which the car dealer will be only too happy to offer. The situation is different with the zero-percent financing already mentioned. Since the dealer already earns nothing on the financing contract, he will hardly be willing to give a discount on the purchase of a car.

For a car loan without schufa information there are two basic possibilities.

The first alternative is the way about normal commercial banks. In some cases, they are also willing to turn a blind eye to the credit check via SCHUFA. In concrete terms, this means that they consult other means of assessing the customer’s creditworthiness. Above all, a regular and sufficiently high monthly income is necessary. If you don’t have this, it will be difficult to finance a car purchase anyway and you should be honest with yourself accordingly. In general, it should be noted that taking out a loan with so-called direct banks without a branch network and via the Internet is the most favorable option. They are also more willing to grant a loan even with poor financial security.
The second option is to hire a professional loan broker. Almost all online credit brokers deliberately solicit customers with moderate to poor creditworthiness and also offer financing solutions without SCHUFA information. Either a loan from abroad is arranged for the interested party, where no SCHUFA check takes place anyway, or the loan is taken out by the credit broker quite normally with a German bank and then passed on to the customer without looking into the schufa.

It should be emphasized that even in the case of offers for a car loan without SCHUFA information, caution is required in the choice of intermediary. Various providers have acquired a bad reputation here because already for the application of the credit a rather high fee is charged, this regardless of a possible later rejection of the credit application. The best thing to do is to find out about the intermediary in question on the Internet beforehand, in order to obtain reasonably reliable information about its seriousness.

In any case, the interested party should be aware of the fact that – wherever a car financing without SCHUFA can be realized in the end – the bank or the credit rating agency will have to pay for the car. The credit intermediary will hedge about correspondingly higher interest rates. The higher interest rate is justified by the bank on the grounds of the greater risk of default compared with customers with a good credit rating.

Leasing without SCHUFA – feasible in many cases, but associated with higher costs

SCHUFA-free financial products have a half-silly to dubious aftertaste for many consumers – regardless of whether it’s a credit, credit card, checking account or cell phone contract. This is also the case with car leasing without SCHUFA, but wrongly so, since there are indeed interesting possibilities.

How exactly does car leasing work??

The principle of leasing is simple. Instead of buying a new car outright, the car is simply leased from a leasing company. The latter buys the desired car from a car dealer beforehand, so that almost all series-produced vehicles are eligible for leasing and can usually be leased. The business for a leasing company is therefore the leasing of new cars, which suggests that the monthly leasing rates, extrapolated to a complete repayment of the car’s new value, will ultimately be more expensive. However, since most people drive a new car every few years anyway and thus do not fully depreciate a car, car leasing is still worthwhile for most customers.

In principle, leasing companies also check the creditworthiness of a potential customer by comparing data with SCHUFA. If there are negative characteristics, the customer will be rejected immediately – as far as the theory goes.

However, there are now more and more providers who have discovered the market niche of car leasing without SCHUFA for themselves and do not cooperate with credit agencies at all. If a contract is actually concluded, it will not appear in the SCHUFA, burgel, infoscore, etc. databases co. At.

Decisions regarding. an application acceptance or rejection is made here on the basis of the economic situation of the interested party as well as industry- and company-internal experience values. The overall financial situation of the interested party plays the most important role, and this is also examined in detail in the case of car leasing without SCHUFA.

As a customer, however, you should bear in mind that the schufa is ultimately only used to protect the lessor from non-payment. Their only task is to check the creditworthiness of the contracting party. However, if this check is omitted, the leasing company will certainly not be deceived and will accordingly check the creditworthiness of the lessee in a different manner. As a rule, this is done with a proof of regular income, whereby this must be proven from an employment relationship that has existed for at least six months. Of course, the level of income also plays a role here. It will be difficult for a cashier in a supermarket to obtain a BMW lease.

The chances of getting a lease are much better if you have other collateral, such as your own home or apartment, or other assets.

As far as the cost side is concerned, most leasing companies make a corresponding payment for the higher risk. Therefore – and this should be made clear – you have to expect higher costs than with regular car leasing.

Financing or leasing – summary and conclusion

A favorable car loan with a direct bank or also one of the respectable representatives of the credit mediator industry seems to be the best alternative in summary.
The customer benefits from attractive discounts when buying a car because he can act as a cash payer vis-à-vis the car dealer. Zero-percent-financing brings the mentioned disadvantage with itself that exactly this cash-payer-discount is omitted.

But also a car leasing can be an alternative in case of negative SCHUFA entries. If you search online for corresponding offers, you should find what you are looking for quite quickly, but the problem often lies in the costs involved. A leasing contract without a SCHUFA check is always more expensive for the customer than a conventional alternative offer.
As a lessee you should therefore think twice before signing such a contract. Maybe it is worthwhile, since an appropriate income is required anyway, to simply save a little, to collect interest in the time itself and to buy the car afterwards itself with the dealer.

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