Credit without deposit – Ask bank



In this case, the car is financed without your own funds. Not everyone can afford to pay for a vehicle with their own resources, so this loan is a very good alternative. As a rule, banks require a share of at least ten percent if a down payment is to be made. For a new car, this sum can be as high as a few thousand USD. Thus, more and more people are asking for a loan without a down payment.

Foreign bank as lender

Foreign bank as lender

Not every car bank grants a loan without a down payment, so a direct bank can be found. The total amount of credit that can be used to finance the car is paid out here. Your own house bank is also suitable for this if the creditworthiness is available. The advantage of a loan without a down payment is that the car buyer can act as a cash payer at the car dealer. As a cash payer you can enjoy the advantages of some discounts.

So either the purchase price can be pressed or accessories can be negotiated. This can often not be done if the vehicle is financed through the car dealership, since the offers are only intended for certain car models. So the customer often has no free choice and could not have the car of his choice financed in this way.

What are the requirements?

What are the requirements?

In order to receive a loan without a down payment, certain conditions must be met. The applicant’s creditworthiness is very important. The better this is, the faster this loan can be approved. Credit bureau entries should not be negative and the income should accordingly be high. It will be difficult for low earners to get a loan without a down payment.

The loan amount is often very high and the loan must be repaid with income. Some car dealers with a good credit rating can even be convinced that no down payment is made. With the auto bank it is also possible in some cases, but often this has to be paid with higher interest. A loan comparison is worthwhile for a loan without a down payment. The different offers can be compared and the best conditions can be found.

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