Car loan despite done private credit entry
A car loan despite having completed private credit entry is usually not very difficult to get. This is especially true if the entry was deleted, which is automatically the case three years after the settlement of claims. In this case, this information is also not forwarded in a request, so that the credit institution receives no message.
When will entries be made to the private credit?
The private credit stores the payment obligations that could not be met for various reasons. As soon as an invoice or a credit installment is still open after the dunning procedure, this is noted at the private credit. As a rule, the open payments are settled after some time, so that the entry is considered as done.
However, they will only be deleted after three years. Within this period, they are listed when soliciting information from the private credit. In times of mobile phones and mail-order houses, an entry at the private credit is no longer a rarity. Whether a borrower gets a car loan despite the completed private credit entry depends on the one hand by the bank, on the other hand by the borrower himself and his situation.
When can the private credit become a problem?
When granting loans, the banks thoroughly check the private credit and assess the situations individually. If it is a one-off payment delay with a lower sum, a completed private credit is usually no problem. If, on the other hand, there were repeated delays in payments with higher amounts, or if it was a question of credit installments, it would be difficult or even impossible to obtain a car loan from a bank without having to provide additional security such as a guarantor.
What to do if the bank does not grant credit?
A way out is provided by loans granted without information to the private credit. These are usually taken in via a foreign bank and brokered over the Internet. Here is not only an information with the private credit renounced, this credit is in turn also not noted at the private credit, so that it is not displayed in a future loan request. When looking for a car loan despite the completed private credit entry, credit comparison calculators can help on the internet.
This allows different offers to be compared quickly and easily. If you do not have time to compare the individual loan offers, you can also contact an independent credit intermediary. These usually have experience in brokering loans even in difficult situations. If no bank can be found, a loan from a private person is also a way to finance a car.