Apply for car loan without credit bureau
To get a car loan without credit bureau, you need to know the key facts to qualify for this loan. In this post you will find a clear explanation why most borrowers are rejected for a car loan without credit bureau. And how you can prevent that in advance.
Was your desired loan rejected?
Increasingly, consumers and loan seekers report that their application for a car loan without credit bureau was denied. No sooner had you submitted an application online and a few minutes later, you received a rejection by email.
Why is that and what’s going wrong here? If you want to borrow money for a car because you should know the following facts in an online loan.
Car loan without credit bureau
In the car loan without credit bureau, the applicant is in the assumption that he can apply for a loan without credit bureau query. This assumption is wrong.
For the lender understands the term car loan without credit bureau only that you can make a loan request without affecting the credit bureauscore.
In other words. The loan request is neutral in terms of debt, with no negative impact on creditworthiness.
This circumstance, and the wrong assumption of the consumer leads to a high rate of credit rejections. The annoyance of the borrower is great and often it is not understood why lenders with this slogan advertisements, if it is already clear from the outset that a car loan without credit bureau information is not awarded.
I always point out that lenders should try to label their finan products clearly. The consumer should be able to see clearly and clearly that a loan without credit bureau is merely a request that can also be made neutral.
Much to the regret of the loan seekers. The borrower’s only interested in applying for a car loan without credit bureau’s request.
Credit without credit bureau query
Now we know this fact – and what do we learn from it if you actually want to apply for a car loan without credit bureau query?
On the one hand, one should know the exact term description and formulate the search query clearly and clearly. That is, looking exclusively for loan offers that actually offer a car loan without credit bureau query.
In our free premium list you will also find direct banks as well as private lenders who can certainly make a loan without asking credit bureau!
Credit without credit bureau information
But attention. If you want a loan without credit bureau information, then that does not mean that there will be no credit check. But on the contrary. Even if the credit bureau credit check data is not requested, this does not protect financial data from being retrieved from other sources.
In Germany there are in addition to the credit bureau also the Arvato, the Crifbürgel, or Boniversum. And each of these information sources may have stored financial data about borrowers. This means that lenders can also work with these companies to assess the creditworthiness of the borrower!
Credit without credit check
And that brings us to the next topic. The credit without credit check. Is there really this? And if so, where can you apply for a credit without a credit check?
So far, I have made it clear that in a car loan without credit bureau, the lender only means that the mere loan request is credit bureauneutral and has no negative impact on the rating of the credit rating.
But is there actually a loan without credit bureau information and credit check? And if so, where can you find this loan, who is giving out these loans and what should be considered?
The mortgage loan
If the credit rating is not the best and you want to get a loan without credit bureau query, then there is the classic mortgage. The mortgage loan is regulated by law and there are pawnshops in almost every city.
The advantage of the borrower is obvious. The credit bureau plays no role in the pawnshop. In addition, there is no credit check.
If you have a movable object that you can estimate at the pawnshop, you can get a loan very quickly, directly, immediately and in cash.
In addition, the strict first-rate regulation protects the consumer from interest-bearing usury.
The policy loan
Another way to obtain a loan despite negative credit bureau, offers the so-called policy loan.
If you have a capital-forming life insurance, then you can use this for a loan. Decisive here is the calculation of the so-called repurchase value of the insurance policy.
When this happens, the lender can usually lend a loan very quickly. The default risk is fully covered by life insurance.
And for this reason, you can also get a loan with the loan loan despite negative credit bureau and credit rating.