The Private Credit (protection association for general credit protection) stores information on current accounts, loan agreements, installment purchases, mobile phone contracts, real estate loans, credit inquiries and much more for every citizen living in Germany. These entries are initially not negative. Negative notes in the Private Credit take place only if the person concerned was in financial difficulties. That inevitably brings with it problems.
Car loan despite Private Credit entry
There are no problems with a car loan despite Private Credit entry, if these entries are not negative. That there is already a loan or a mobile phone contract, is no reason to reject. But not everyone has only neutral notes registered in the Private Credit. If there are difficulties with the repayment, this is saved as a negative note in the Private Credit. Now the point has come where most banks reject a loan.
Credit from abroad
Nevertheless, in order to fulfill the desire for a car, those affected can apply for a loan from abroad. Foreign banks do not ask Private Credit. Such a loan is only approved if the applicant has a permanent employment. Without a job or a self-employed activity, you can save on the request, because only who pursues a non-self-employed activity, has a good chance for a loan.
Despite a negative Private Credit entry received a loan
In Germany there are financial service providers specializing in loans for people who have problems with their Private Credit entries. But serious entries should not be. With an affidavit or seizure, these too can not do anything. But if the case turns out to be harmless, such as a late-paid bill, then these intermediaries can do something about it. The borrower should be aware, however, that he has to pay for a car loan despite Private Credit entry more interest than a installment loan with neutral Private Credit entries.