The request for a car loan despite short-time work not all lenders evaluate negatively. For the credit decision it is important which short-time work is concerned. Thus, a so-called bad weather money as found in many weather-dependent professions, is viewed differently than an economic lull in the order situation.
Is a car loan granted despite short-time work
The alternative for a car loan despite short-time work are the car banks. Through personal contact with the car dealer, the special situation of the customer can also be taken into account. Income is not brought into line with the current short-time work scheme, but the average wage of the last few months during which full time work was performed is taken into account. This is a normal business practice, as it is assumed that the employee will return to full work after the short-time working period.
The willingness of the car loan that a car bank shows during the short time is related to its sales promotion. The car loan that the consumer can obtain from a car bank often has a lower interest rate than a loan from a commercial bank. However, because of the favorable interest rates, no discount is granted on the car price.
Financing via a direct bank
If the customer prefers to handle his car loan online at one of the direct banks, he has to expect difficulties. With direct banks, financing decisions are automated, so "special cases" such as short-time work cannot be taken into account. Targeted direct banks work towards the last three wage certificates, so that a car loan despite short-time work is often rejected. However, the situation is different with banks that have adapted to the personal circumstances of their customers.
These types of loans are often made by branch banks. For example, your own house bank would be the right contact for a car loan despite short-time work. The house bank generally knows the financial circumstances of the customer and also has insight into his accounts, so they can accommodate the customer with special conditions. For example, it can be agreed that installment payments will not begin until after the end of short-time work.
Other financing options
Many banks show positive responses when a guarantor is provided to secure not only the tangible value of the vehicle but also the loan. A guarantor who has a good credit rating reduces the credit risk and steps in in the event of non-payment.
Another financing option is to finance a car loan despite short-time work through private investors. Appropriate portals on the Internet offer their service, which in a contact between the borrower and the lender are in a safe area.
The credit request is posted on one of the platforms with a corresponding profile and private investors can bid for it. There is no legal regulation for the bids, most investors decide by feeling. If a secure repayment method is offered and the loan request is presented in an appealing manner, a car loan despite short-time work definitely has a chance of being approved by private lenders.