In most cases, anyone who wants to buy a new car or has opted for an expensive used car needs a loan from a bank. Car buyers receive loan offers from vehicle dealers, house banks, but also from direct banks on the Internet. To secure the loan, the vehicle registration document is usually retained. A car loan without a letter is now possible at some banks.

Agree bank customers usually receive a flexible installment loan

Agree bank customers usually receive a flexible installment loan

However, since a new car or a good used car is a high-quality, expensive investment, in most cases the letter will remain with the bank as security until the last installment is repaid. With a very good credit rating and private credit checker information that has no entries, a car loan can also be granted without a letter. In most cases, the house bank grants Agree bank customers with years of positive business relationships a loan in this form. It is a flexible installment loan that is repaid on the agreed terms.

If the loan is not earmarked, the borrower can buy what he wants with the approved loan. With a car loan without a letter, the document therefore remains in the borrower’s hand. However, this type of financing is only available to borrowers with a solid financial background. Anyone who is unknown to banks and who, apart from a good credit rating and a flawless private credit checker information, cannot offer any further collateral, will have to deposit the vehicle registration certificate with many banks.

You can’t tell from the car that the letter is on the bank

You can

Borrowers who hold the vehicle registration in their own hands certainly have advantages. If the vehicle should or must be sold, this can be done without the bank’s approval. However, a car loan without a letter can be far more expensive. Anyone who decides to buy a new car or a good used car should therefore make a detailed loan comparison. With a comparison on the Internet, many cheap loan offers can be found. The direct banks on many credit portals offer loans on terms that house and branch banks usually cannot keep up with.

Anyone who can do without detailed, personal advice from a bank employee and is not afraid of online banking will certainly find what they are looking for on the Internet. Here too, good creditworthiness and positive private credit checker information are crucial for a good loan offer, because the favorable terms are in most cases dependent on creditworthiness. Borrowers who finance a vehicle with a loan can negotiate lucrative discounts with a car dealer. It is irrelevant whether the car loan is obtained without the letter and is later deposited in the bank until full payment has been made.