Everyone can buy a car. There are many possibilities. Some buy their beloved model in car markets, others prefer a dealership. There is no credit bureau query. At least not for cash. It looks different, however, if the car is to be financed.
Car purchase despite credit bureau entry
Both the banks and the car dealerships offer loans for car financing. But you should not make a hasty decision, because the terms of the house banks, as well as the car dealerships can be far away from each other. A comparison is therefore worthwhile. Basically, the creditworthiness of the customer is important for financing. A car purchase despite credit bureau entry can be difficult then, if a financing is pending. Ultimately, it depends on what a negative credit bureau entry it is. After all, there are also positive credit bureau entries. This is the case when the loan repayment is considered done.
What if a loan is already payable?
A problem with the financing of the car can exist even if the buyer already has to pay for a loan. Banks do not like it so much when lending money, even though one is already running. The car dealer banks also have the right to query the credit bureau. Every loan is reported there. It is quite possible that they will refuse a car finance, because already a still to be paid credit in the credit bureau is registered.
Swiss credit for buying a car despite credit bureau entry
Depending on the purchase price of the car, there is another alternative. The Swiss loan would be useful in such a case, if it really must necessarily be another loan. The maximum sum is however limited to 3,500, – USD. The Swiss banks do not ask credit bureau. However, it is important to have a permanent job with a regular income, a residence in Germany and a minimum age of 18 years. If all conditions are met, there are usually no problems with a car purchase despite credit bureau entry.
However, it raises the question of whether another loan for a car really makes sense. It would certainly make more sense to talk to the lending bank in order to increase the existing credit for the purchase price of the car. The banks do not like to see that, but if the loan is paid off soon enough, there should not be any trouble with it. At least that’s the cheaper option, because a second loan from another bank costs additional interest. In addition, you then have monthly two installment obligations. This can eventually lead to one simply getting bogged down.