A loan that can be perfectly tailored to the needs of the consumer should be the wish of every borrower. And this wish has now been fulfilled by many banks and credit institutions. Because when it comes to attracting customers and convincing them of the company’s products, they are becoming ever more creative and increasingly flexible.
Because the days when consumers had to compete for bank confidence are long gone. Today, the banks vie for the favor of consumers. But advertising and accommodation also has its limits. Especially if the consumer does not provide the ideal conditions for a loan. And so a loan can be a problem during the probationary period.
Cars are financed
As a rule, cars are financed. Hardly anyone buys a car bar. Financing in this area is so cheap that this step would not be worthwhile. But the conditions must be right. And so the buyer must not only have an employment relationship, but this must necessarily be fixed. A car loan during the probationary period is therefore not possible in the normal way and requires a little support.
So you have to try a car loan during the probationary period for a guarantor, which can bring a little security in the financing. Banks do not grant credit to consumers during the probationary period because the employment relationship can be terminated at any time without justification and without a notice period. The collateral is thus missing and a failure of installment payments may occur.
If, on the other hand, you have a guarantor or a second borrower, the bank will regard this as collateral and no longer be too critical about a loan. In addition, you should offer the bank or car dealership that you take out a residual debt insurance. This comes into play when you become unemployed or can no longer pursue your profession due to a serious illness. For the bank, however, this insurance also means another security that can decide on the approval of a loan.
Whatever one chooses in the end: the fact is that it is very difficult to take a car loan during the probationary period. To succeed, you have to be able to name at least one guarantor. It is even better if you have another borrower or even a residual debt insurance.