Use this loan calculator to find the cheapest car finance in Germany for you:
Minimum requirements for a successful loan application:
Because of the fact that it is constantly queried, you can find the requirements that one must meet at a glance, so that your loan application has a chance for approval:
- Income: Euros 600 per month
- Place of residence in Germany
- Current account in Germany
- at least 18 years of age
- Employment as an officer, employee, worker, trainee since 1 month
- at self-employed persons and freelancers: submit at least 1 income tax assessment, which is not older than 3 years
- … or retired person.
If you do not fulfill these requirements, then it does not make a sense to proceed with the loan comparison and the subsequent application procedure.
If you fulfill all of the above mentioned requirements, than the recommendation is as follows:
Click through the comparison and then enter your personal data, so that the individual loan offers can be calculated. This is free of charge for you!
Costs only arise after the payment of the loan, because the interest is the price for the borrowed money 😉 But in change, you will drive a beautiful car soon?
Let your loan possibilities be checked now non-bindingly!
= use the comparison tool at the top of this page!
Car loan for used cars or upgrade possible?
You guessed it: car loans are cheaper than instalment credit loans because the car serves as an additional security for the bank.
For the duration of the financing – until the last instalment has been paid – the registration certificate part 2 – Zulassungsbescheinigung (formerly called vehicle registration document – Fahrzeugbrief) would be kept at the bank. If the loan is not repaid, the bank has the right to sell the car in order to pay off the debt.
This is true not only for new cars, but also for used-cars and for upgrading motor vehicles, for example, the conversion to natural gas.
If you are willing to send the registration certificate part 2 for the entire duration to the bank, you can get cheap interest rates for the car loan.
Case study: Upgrading a vehicle, which is not yet fully paid off
The easiest way is to increase the existing car loan. You will have to contact your current financial institution. If this is not possible, you have two alternatives:
- Select another source of financing, where the registration certificate is not required or
- You have to wait until the first car loan has been paid off and the bank has returned the registration certificate. Next, you have to get a new car loan for upgrading the vehicle and can deposit the document for security at the new bank.
The registration certificate can only be held at one bank.
Car loan instead of leasing
We recommend a car loan to private individuals as the car belongs to them after the last payment has been made to the bank.
With leasing, you have to return the car after the agreed time and you don’t have anything but perhaps, a high final invoice due to too many kilometers or damage to the car.