More and more private individuals in Germany today have a negative credit bureau. The credit bureau is now an integral part of the credit check at many banks, as more and more potential borrowers can not take out a loan because of a negative credit bureau, the banks have loosened their contractual conditions and today also increasingly offer loans without credit bureau.
Loans without credit bureau are characterized by the fact that the credit check on the credit bureau information is waived, but borrowers must also have a certain credit standing here, so that they can benefit from a loan. A car loan without credit bureau is no longer offered only by the many large commercial banks with a large store system, also more and more small online banks and auto banks offer a low-cost credit without credit bureau. In particular, the online providers have vitally stimulated the business and contributed to lower interest rates through the pressure of competition.
Consider car loan without credit bureau in direct comparison
When comparing multiple bids, borrowers today should focus primarily on the effective interest rate. The effective interest rate is decisive for the cost of the loan. The effective interest rate is variable and can vary depending on loan amount, term and credit rating.
A car loan offer that does not require credit bureau is particularly suitable for borrowers with a negative credit bureau who can benefit from attractive interest rates in this way despite their restrictions. Who wants to secure the best interest, should fall back on a short term and a small loan amount. Short maturities contribute to the fact that the remaining debt can be reduced quickly.
With most car loan offers the eradication in installments, with the repayment of installments, is made possible. The repayment guarantees a constant liquidity burden. By allowing the debt to be quickly reduced, the borrower can effectively reduce the cost of borrowing.
In addition to the repayment of installments, where repayments are made at constant intervals with constant installments, the final installment has also been established on the car loan market. The final installment is characterized by the fact that only the interest will be redeemed during the term. Only at the end of the term, the loan amount is paid with a one-off payment. During the term, borrowers can benefit from a low level of liquidity in the final installment, which means that the loan interest is calculated from the net loan amount, so borrowers have to reckon with significantly higher interest costs.
Find car loan without credit bureau with a comparison on the Internet
Numerous comparison portals now make a quick and easy comparison on the Internet possible. With the help of a loan calculator, borrowers can make a comparison with individual sizes, in this way, the individually cheapest offer can be accessed and above all a lot of money in the long term be saved.