If you want to buy a car as an apprentice or apprentice and your parents can not fulfill your wish, they can take on a car loan apprentice. Many also receive a loan if they are not yet in education, but then only under certain conditions.
The car loan for trainee is a special loan, because the payment during the training is relatively low.
As a rule, banks tend to lend when little is earned and no large collateral can be offered. When it comes to the car loan trainee, then usually only one loan in question. It is a so-called consumer credit, where the sum is low and therefore it is also called housewife credit.
For car loan trainees, banks generally grant a credit line of no more than 4,000 euros. For this loan, the apprentice must already be from the probationary period and he must teach three salary certificates and the apprenticeship contract. Also with this credit a query of the credit rating is made and therefore no negative entry should be present. In the case of a negative entry, the loan is usually rejected by the banks. If the car is a little more expensive and the trainee needs a higher loan, then he should bring a guarantor. Often the grandparents or parents come into question, but for the borrower also friends or siblings can vouch. The only important thing is that the guarantors can prove the necessary collateral. If a trainee can no longer pay the installment for the car loan, then the guarantors are automatically asked to pay.
General information about the car loan for apprentices
Many trainees have to travel to the employer for longer distances and dream of their own, mobile pedestal. The car loan apprentice can fulfill this dream and is a great help. Cars can be specifically financed with the right loan offer and also without large financial collateral.
The trainees quickly notice in the discussions with the banks what security requirements are made. Although the salary during training is not very high, it can serve as a financing basis. It is very advantageous if the trainee still lives at home and thus has lower additional costs. If the training place is granted for several years, then this regular income is often enough for the banks.
Traditional banks and banks usually have stricter lending requirements compared to online offers.
It is often offered on the Internet to refrain from checking for collateral. However, these loans are usually associated with relatively high repayment interest rates and this form should only be completed if no financial surprises of a negative nature can occur. Of course, the frequent request for the car loan trainee is well aware of the lenders and there are therefore more and more interesting offers in the credit market. A regular look at the many providers should help to find a good provider. This must then be in the best way compatible with the own training place. For some banks, the basic requirement is that the monthly training allowance is at least 500 to 600 euros.