Tips on car loan without Schufa & creditworthiness

Negative entries can lending prevent or at least make it significantly more difficult. Below is an overview of information about car financing despite negative credit bureau– Realize entries.

The Schufa – Acts privately

The Schufa Holding AG or the entries in the credit agency can put massive obstacles in the way of vehicle financing. Namely whenever negative entries are stored for a consumer. Such entries indicate a poor credit rating because, for example, electricity discounts were not paid, a loan was canceled by a bank or installments were no longer paid. Such information is used by credit institutions to assess the solvency of consumers.

Good to know: The Schufa is a private company – it is not state-owned. The credit agency receives information for entries primarily from business partners. Data storage begins as soon as a checking account is opened. The following partners, among others, report when consumer claims are not settled on time:

• Banks
• Retail trade
• Online trade
• housing cooperatives
• Telecom Provider
• Electricity suppliers

Receive car loans despite negative credit bureau

Thus, an unpaid mobile phone contract can already lead to the urgently needed car loan not being granted. In this case, alternative loan offers that give less weight to negative Schufa entries in the credit check can help. Good chances of a loan approval go hand in hand with alternative credit intermediaries who carry out their own credit check and do not generally reject consumers with negative credit bureau entries.

One option is offered by the intermediary of personal loans auxmoney, which provides information on the website about car financing without Schufa and at the same time emphasizes that car loans are not possible there without a credit check, but despite Schufa entries. Car financing with negative credit bureau without a down payment can also be requested. The credit check includes many other criteria. However, the financing options are not unlimited: no car loans will be granted if there are hard negative characteristics such as ongoing insolvency proceedings.

Loans from vehicle dealers – often expensive

If car dealers offer the right financing directly for the vehicle, a negative Schufa entry can also cause a rejection. This is particularly the case when car dealerships cooperate with banks and only act as intermediaries. Then the Schufa is used equally as an essential creditworthiness criterion. On the other hand, if car dealers provide the financing themselves, it is quite possible that solvency will be interpreted less critically.

But no matter whether with or without cooperation with banks:

• Car financing through the car dealership is often more expensive than alternative loan offers from the Internet.
• It is in relation to Saving time and effort Although it is tempting to arrange financing directly with the dealer, this strategy does not contribute to relieving the household budget.
• Generally, one is recommended Comparison of credit costs.
• Of the effective annual rate summarizes all credit costs and thus facilitates the credit comparison.

Check car loans without Schufa carefully

If car financing is offered without any Schufa query, consumers should sit up and take notice. Behind such offers there are often dubious providers who are based abroad and who can hardly be reached in the event of a conflict.

Control Schufa entries with the data query

Whether there is a negative entry can be clarified by applying for the so-called data copy. This type of information is also Data overview according to § 34 BDSG mentioned – every consumer can use it to assert his right to inspect the Schufa entries. You can apply for a copy of the data once a year free of charge.

The Schufa may not store entries indefinitely. As Schufa confirms online, the general storage period for personal data is three years. According to its own statements, the credit agency adheres to the information on contractual transactions Rules of Conduct for Deletion Periodswhich the association “The credit agencies” has agreed within the framework of the General Data Protection Regulation.

Frequently Asked Questions