If you want to have good chances for a car loan, you should make a good down payment directly from a dealer on the price of the vehicle. It then becomes more difficult with the car loan during the trial period, because very many banks only grant a loan if the borrower is in a permanent position without a trial period. In the case of a loan, this means that it is always desired that the trial period has already passed.
The prospects for a car loan are greatest for a prospective customer if the financing is handled by a dealer. A dealer usually works with a car bank and this belongs to the group. This cooperation usually allows very favorable conditions. Of course, these banks need collateral and therefore a deposit of more than 25 percent is often seen. The deposit then serves as security for the bank and the vehicle letter is then deposited with the bank as further security. The borrower will not receive the vehicle registration document until the loan has been paid in full. This means that the borrower cannot sell the vehicle during the term and the bank owns the car in the event of payment difficulties.
With this concept of protection, approval is often easier with a car bank than with other credit providers. The other requirements for approval can also be reduced if the down payment is even higher. If a customer is interested in a car loan during the trial period, the Credit bureau information is in order, employment with a renowned employer and a relatively high down payment is made, then nothing stands in the way of the car loan during the trial period. A down payment, for example, of 10,000 USD from a vehicle price of 22,000 USD is part of a very high down payment and this can also be made by a used vehicle.
The next option is to present a suitable co-applicant to the bank. Of course, the co-applicant must then also meet the bank’s requirements. Often it is a spouse or a guarantor. For example, a woman may be on probation and the man has been a civil servant for 15 years. The official is often seen as a prospect at the banks and can act as a hedge for the loan. So there are actually some ways to get the loan during the trial period.