A car loan almost always has to meet the same requirements that apply to a normal bank loan. For this reason, it is far from easy to get a car loan despite poor Credit bureau. The best chances are with a dealer loan or with a foreign loan. However, this only applies if there is a secure income that results from working as an employee or civil servant. See broccie.com for an observation
Foreign loans can either be earmarked or freely available. A car loan can be classified in the first category. The loan amount is variable and can depend on the one hand on the specific financing requirement and on the other hand on the income of the borrower. A detailed comparison would be advisable in any case. He can answer not only the question of which foreign bank grants a loan to German citizens, but also the conditions on which this can be done.
Interest rates vary. The same applies to the term and the monthly loan installments. As a rule, the self-employed and freelancers cannot get a foreign loan. This applies regardless of whether you want a car loan or an installment or consumer loan. Foreign lenders refrain from obtaining Credit bureau information and therefore attach great importance to regular and fixed income.
The chances of getting a car loan despite bad credit are much better with a dealer loan than with a bank loan. This is especially true when the customer is ready and able to make a larger down payment on the purchase price of the car. However, no one can guarantee that the loan will actually be granted. The decision always depends on the award criteria of the dealer and the personal circumstances of the customer.
If the car dealer has known the customer for a long time, he will be much more willing to grant a car loan despite bad Credit bureau than would be the case with a completely foreign customer. The repayment must be made in monthly installments and is tied to a specific term. In the end, the loan can be repaid in full or a high final installment due. In the former case, one speaks of a classic car loan, in the latter case of a car loan with a final installment.