Are you dreaming of a different car, but financing would be difficult? A car loan with a guarantor can make the vehicle request a reality. We have summarized for you what to look for, which loan offers can also be implemented without guarantors.
Car loan with guarantors – you can’t do without a car
A car loan with a guarantor is being sought more and more, because it simply cannot work without a car. Mobility is very important in Germany. You buy at the discounter “on the green field”. The high rents for living quarters in urban areas ensure an increasing rate among commuters. Many workers commute up to 100 kilometers a day just to get to work.
Switching to local public transport is impossible. For one thing, the costs are far too high, and there are also no connections to the workplace. In Germany, there is only occasional talk of a comprehensive network of local public transport. If you do not happen to live in one of the metropolises, in an area that has not yet been energetically renovated, you can only commute.
Everyday requirements can only be mastered with a reliable vehicle. But how do you finance if your net income has been falling for years and prices are rising? On top of that, every second new job is only given for a limited time. The job miracle of agenda policy is expensive due to low wages and a lack of job security. Many employees do not get a larger loan from the bank, despite full-time employment.
An alternative to staying mobile and keeping your job is car loan with guarantor. Loan guarantees always provide an adequate means to an end if your creditworthiness is not sufficient, but a loan is inevitable. In theory, every citizen can guarantee for another. Only the guarantee of a solvent guarantor is recognized and therefore conducive to lending. A guarantor is considered to be a “solvent” if his creditworthiness is so good that he can safely repay the loan.
Loan with guarantor – secure financing for car purchases
Lenders who also lend in connection with a guarantor are easy to track down. Manufacturer banks and direct banks offer particularly low-interest loan offers. Almost all loan offers that a credit comparison calculator displays can also be applied for together with a guarantor or co-applicant. Very few banks generally exclude the guarantee.
Of course, car loan with guarantors from the vehicle dealer can also be convenient and inexpensive. The guarantee is possible for all common financing models of the manufacturers. Nevertheless, these loan offers should not only look at the favorable rate of the final installment loans. Taking the risk of having problems later with the follow-up financing of the final installment is one thing. Exposing a guarantor to this risk is carefully formulated very unfairly. Ordinary final installment loans are structured in such a way that the down payment is used up.
Without a firmly agreed guarantee of further financing from the dealer bank, the new loan search can become a problem. The loan-to-value ratio of the vehicle is too low after the deposit has been used up in order to be able to build on it. Further financing is only guaranteed for car loans with a final installment as two-way financing and three-way financing. These loan options are usually offered by the dealer only for new vehicles or very young used vehicles.
Private lenders – an alternative source of money for car loans
It is not just commercial loan offers that can finance a vehicle. Nowadays, private loans have a firm place as a solid credit opportunity in almost every creditworthiness situation. The market leaders in this modern form of financing are the Good Finance and Best Lender portal. The structure and the idea of both portals are very similar. A prospective customer formulates his or her loan request for publication on one of the credit portals. He also unlocks the offered certificates.
Both together give a comprehensive picture of the creditworthiness situation. The ability to repay the car loan can also be clearly demonstrated in this way. An application for a car loan with guarantors is not necessary from private. The loan offer from private donors is a good way to act independently. A surety does not have to be liable for the loan request.
The credit security is derived from the borrower’s creditworthiness and the value of the vehicle. The loan opportunities increase by up to 80 percent through the pledging of vehicles. A car loan without private guarantors therefore offers a good alternative to a car loan with guarantors from a commercial loan provider.