Car loan without guarantor – on request even without credit bureau
If he can comply with this, he can apply to almost any bank. A guarantor is not the only loan security that can be given.
Why without guarantors?
Sometimes it is better to choose a car loan without a guarantor. However, some have no other choice. A surety assumes a great responsibility with the guarantee. Either he cannot take it over or he doesn’t want it. A guarantor must pay the remaining debt on the loan. This happens the moment the borrower stops making payments.
It doesn’t have to be willful. The borrower just has to lose his job and he can no longer pay off the installments. But a surety must also have a good credit bureau. Only one entry would suffice and the guarantor would not be suitable. It is therefore better and sometimes necessary to take out a car loan without a guarantor.
No loan without collateral
The car loan without guarantor must be secured with loan collateral. If your own income is not sufficient, there must be additional security. The type of protection depends on the loan amount and the type of loan. Without security, the bank will not grant the car loan without a guarantor. If the loan collateral loses value during the term, new collateral must be found. It is important for banks that credit security loses no value.
In addition, great importance is attached to, for example, the vehicle registration document remaining with the bank. If there is a loan default, the bank sells the vehicle. The bank receives the loss caused by the borrower. This means that the customer is only in possession of the vehicle when the installments have been paid in full.
Autobank – Application for a car loan
With a car bank it is possible to take out a car loan without a guarantor. The bank only expects that the income is adequate. If the credit bureau has no negative entries, an application can be made. The bank often keeps the vehicle registration document.
This is a popular loan security, especially for new cars. Even if the car loses value in the first few years, it is often enough to cover the remaining debt. Therefore, the guarantor is usually dispensable. However, it may also be the case that residual debt insurance is offered.
While this is tempting, it is often not necessary. If you can lend your life insurance, you should choose this way as protection.
Online car financing offers
There are many online offers for car financing. A car loan without a guarantor can also be taken out in this way. Here too, creditworthiness comes first. Direct banks therefore also check income levels and credit bureau. Those who do not have a high income can come up with other loan guarantees here too. There is also the possibility of submitting a second applicant for the car loan without a guarantor.
The bank can therefore assume that both salaries will be sufficient so that there will be no loan default. By the way, the application “online” is allowed. As soon as the personal data and the amount of the salary are entered, the software makes a preliminary decision. An interest rate is communicated, which the customer can choose.
If the offer appeals to him, a credit agreement can follow.
Bank from Liechtenstein – car loan without guarantor
The Lite Lender, Best bank, grants a car loan free of charge and without additional collateral. This loan is granted as a normal installment loan. However, the amount is not as flexible as with online offers. The customer has to decide whether to take out a credit of 3500 USD, 5000 USD or 7500 USD.
The bank will check the income as soon as a loan amount is determined. With the 5000 USD loan and 7500 USD loan, the bank requires an income of at least 1800 USD net. The small loan is at least 1150 USD. As soon as the contract is concluded, the customer automatically agrees to repay the loan within 40 months.
The foreign bank does not provide for additional credit protection through guarantors. This loan is therefore suitable as a car loan without guarantor with a negative credit bureau.