Car loan without a car letter – that’s how it works

You can find out what needs to be considered here.

Why a car loan without a car letter?

Why a car loan without a car letter?

Most of the cars on our roads have been financed with a loan. The costs for a purchase are simply too high without the financial help of a bank. In addition, many loan offers are so cheap that it would be negligent to let the laboriously saved money flow into the purchase instead of using a loan.

But what bothers many:

  • A car loan is usually associated with the delivery of the vehicle letter

The vehicle serves as security for financing. And so that it cannot be sold during the repayment phase, the bank keeps part of the vehicle letter until the loan has been repaid in full. Not necessarily what many borrowers want. You prefer a car loan without a vehicle registration fee because they are more flexible and the car is not considered a deposit.

But where can I get a car loan without a vehicle registration fee?

The classic path must be followed

The classic path must be followed

If you are looking for a car loan without a car letter, you should not ask the car dealer for a loan. The dealership will always keep the vehicle letter. Rather, the path must lead to the traditional bank, which has a wide variety of loan models. Among other things, the simple installment loan, which does not have a purpose limitation. In the case of a non-earmarked installment loan, the bank does not ask what the borrower actually uses the money for. It simply makes it available if the borrower has a good credit rating.

The latter can then freely decide which projects are to be implemented with it. If the income and a clean credit bureau are sufficient for a good credit rating, additional collateral is unnecessary. If this is not enough, simply check which collateral – apart from the vehicle letter – is still suitable. A surety would be a very good option, for example.

Compare different options

Compare different options

There are more than 2,000 banks in Germany that all offer financing. The choice for a car loan without a car letter is therefore very large. In order to make an effective loan decision, don’t just take an offer lightly. Rather, the use should be preceded by a comparison that shows the differences between the individual offers and elaborates their advantages and disadvantages.

Simply use our loan calculator for this comparison. With the help of the desired loan amount, the intended use and the desired term, he determines current loan offers that suit the searcher.

The scope remains

Basically, the conditions are still negotiable with the bank afterwards. However, the comparison not only enables a quick overview of the various offers. It helps to ensure that the car loan without a car letter does not cost more than is absolutely necessary. The comparison shows the effective interest rate that the bank is likely to calculate.

The lower this interest rate, the lower the additional costs for the loan. So if you compare exactly, you can save several hundred or even a thousand USD.

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