If a baby completes the family, then exciting months and years are on the doorstep for everyone involved. It is important to provide the new little family as well as possible and to prepare everything so that everyone feels comfortable and can meet all needs. One of the basic needs of our time is also a car. A mobile pedestal that brings the family to any place and helps with many everyday things. But even if a car already exists, it can happen that this must be replaced during parental leave against another model. Be it because it is old and defective. Or because the new family member requires a lot of space and this is simply not given in the old vehicle. After all, not only a new family member, but also a stroller and many other important utensils must be transported for the new earthlings. The fact that the old car reaches its limits may not surprise us is completely normal.
The car loan during parental leave – the considerations
If a loan has to be taken up for the purchase of a new vehicle, the great consideration begins. Where is a car loan possible during parental leave? Which prerequisites must be brought for it? And what must be observed when recording necessarily?
A car loan during parental leave differs slightly from conventional credit. Since a parent is on parental leave, they can not take the loan. It can not even act as guarantor or co-applicant because the banks do not view the parental allowance as income. They see in it only a social allowance, which can not be used as collateral for a loan. Regardless of whether the person concerned wants to act as a borrower or merely as a “supporter”.
This must be noted
A car loan during parental leave is no easy task, as the banks look very closely at how the borrower’s family circumstances are. Since only the parent can take the credit that is not at parental leave, the borrower must have such a high income that this is enough for him and the rest of the small family. If this is not enough, a co-applicant must be sought, preferably within one’s own family, since banks are the most likely to agree to a loan.
Since a car loan always considers the car as collateral, there is no need for further collateral. Only the private credit must vote – but this is a prerequisite for any loan.
Here is the car loan during parental leave
With good conditions, the car loan can be taken during parental leave at any provider. Whether car dealership, house bank or any other bank in Germany: The offers are so extensive that certainly something suitable will be found.
To find the best deal, a comparison should always be made. This is best done with a comparison calculator, which can be found on many websites on finance and loans. Within a very short time, the calculator will show you some very cheap and worthwhile offers that only have to be evaluated afterwards. The best offer can then be requested directly afterwards. Often directly over the Internet, as the calculator links to the page of the offering bank. There then only the application must be completed and provided with the necessary documents. If you send everything to the bank for review, they will check the loan application and make a decision on the approval within a few days.
If you turn personally to a local bank or a car dealership, you can expect faster with a commitment or a rejection. Because the application is then usually directly tested and evaluated. If everything works, then the car can be bought and used directly afterwards.