However, sufficient creditworthiness must be fulfilled for an application without a spouse to be successful. The borrower is solely responsible for the loan, so the spouse is not liable. Read for a critique

Credit check

Credit check

In order to be able to apply for a car loan without a spouse, proof of creditworthiness must first be provided. The lender first wants to know if there is enough income. This serves as protection for a loan. Income certificates and employment contracts can usually be copied. The applicant must not be in the trial period, as the employment relationship can then be terminated at any time. The lender will also check the bank statements.

Regardless of whether the application is made to the house bank or a third-party bank, banks rarely do without the account statements. Finally, the extracts provide a comprehensive picture of the applicant’s finances. In addition, overdrafts and attachments become visible. Such anomalies would put the creditworthiness in a bad light. If the personal creditworthiness weakens, there is a need for action. Creditworthiness can be improved in different ways.

Increase credit opportunities – improve creditworthiness

Increase credit opportunities - improve creditworthiness

In addition to income, credit bureau is also important. If the credit rating is poor, the customer must try to increase their credit chances before applying. A look at your own credit bureau can reveal a lot. Anyone who has negative entries will automatically be downgraded. The further the score has dropped, the less likely it is to get a car loan without a partner. Income can only be increased if a part-time job is taken up.

But not everyone has the time or finds a suitable one. In this case, the lender can be offered security. This loan security can vary depending on the loan amount. The lender will often tell you whether a surety or other security is appropriate. The borrower has to take care of this for an application to be approved.

Never apply for a loan without comparison

Never apply for a loan without comparison

The loan seeker should never apply without first making a comparison. This is important in order to save interest and reduce the total cost of the car loan without a spouse. The customer should read all the conditions and only then decide. The loan amount must be known so that the comparison can be carried out. The loan seeker can enter different terms on the comparison portal. This is how he sees how expensive the loan will be.

This sum must be compatible with the income. If the monthly credit rate is too high, the term must be changed. Only when it is clear that the loan is affordable is it worthwhile to obtain a non-binding offer. The rate can even change. Only then will the customer receive interest that is tailored to them. This can turn out differently than the comparison showed previously.

Car loan without a spouse – advantages and disadvantages

Car loan without a spouse - advantages and disadvantages

Those who want to take out a car loan without a spouse have advantages and disadvantages. The advantages are especially there when there is a high income. The spouse then does not have to pay for the loan. It is not uncommon for the spouse to be out of work.

Housewives, for example, have no income. In this case, it is important that the spouse does not have to be involved. Even if some banks say that the spouse has to guarantee. It’s not like this.

If there is a separate account and possibly even a separation of property, a car loan can be taken out without a spouse. However, if the applicant has poor creditworthiness, an application without a spouse can be a disadvantage.

On the one hand, the loan amount can be small. On the other hand, the bank lacks the necessary credit security to issue a license.

Select bank – apply

Select bank - apply

The customer has to decide where to take the car loan without a spouse. With good credit, there are many ways. In this way, the application can be accepted at the house bank, a car bank or a direct bank. The loan calculator should help to make the selection easier.

Obtain a non-binding offer directly from any lender. So after that the loans are easily comparable, the cheapest provider “wins the race”. Auto buyers take out credit from a car bank through the car dealer. Applying for car loans from direct banks makes car buyers quick and easy online.

Incidentally, the ID must also be available for a car loan from the house bank. A car loan without a spouse is not a problem, but there is no money from any bank without an ID check.