If you dream of a new car, you know that financing is a crucial step on the way to fulfilling that dream. A car loan can be your ticket to your dream car, and we at kredit-fuchs.de are here to make sure you find the best car loan in Germany with our comparison.
Calculate your car loan with our car loan calculator
See in 2 minutes which bank will actually approve your loan.
A transparent check against real bank lending criteria. Free, no SCHUFA entry, no fluff.
Kurz-Check: Welche Anbieter passen zu Ihnen?
2 Klicks, ohne persönliche Daten – so landen Sie direkt bei Anbietern mit den besten Zusage-Chancen.
1. Beschäftigung
2. SCHUFA
✓ Gute Voraussetzungen – nutzen Sie direkt den Bankenvergleich unten.
Diese Anbieter prüfen auch Ihre Situation
Werbehinweis: kredit-fuchs.de erhält von den genannten Anbietern ggf. eine Vergütung. Eine Kreditzusage kann nicht garantiert werden. Der Bankenvergleich unten steht Ihnen weiterhin offen.
Compare car loans with kredit-fuchs.de – How it works
The path to your desired loan is simple and straightforward. At kredit-fuchs.de we offer you a transparent and user-friendly platform to find the best car loan in Germany. Here’s how it works:
1. Calculate your desired loan
First, you can use our online car loan calculator to determine your requirements. Simply enter the desired loan amount and term, and our calculator will show you the monthly installment and the total loan amount including interest.
2. Fill in and send off your credit request
Once you have determined your requirements, you can fill out and submit a non-binding loan request directly online on our website. Filling out the form only takes a few minutes and is of course SSL-encrypted to protect your data. Requesting conditions does not affect your SCHUFA score.
3. We show you the best and cheapest offers
As soon as we have received your request, we compare the offers from our partner banks and show you the best and most favorable car loan offers. This means you have all the important information at a glance and can select the right offer for you.
4. You select your favorite loan offer and receive the desired loan amount
Choose the offer that best suits your needs and conclude the loan agreement. After the final check, online identification and approval by the bank, the money will be transferred to your account. This allows you to purchase a car quickly and easily and enjoy the financial flexibility that a car loan offers.
Advantages of a car loan
A car loan is a popular and practical way to finance the purchase of a new or used car. There are numerous reasons why car buyers opt for this financing method. Below are some of the main advantages that a car loan offers over other financing methods.
Car loan versus cash payment
Paying cash can often bring discounts and savings, but it also ties up a lot of your capital that could potentially be put to better use elsewhere. In contrast, a car loan allows you to spread the cost over a longer period of time, reducing your initial outlay and giving you more financial flexibility. With a car loan from a bank, you also pay the dealer immediately and can often negotiate a cash discount.
Car loan versus leasing
While leasing can sometimes offer lower monthly payments, a car loan gives you ownership of the vehicle, which may offer you more benefits in the long run. Unlike leasing, you have the freedom to modify the car as you wish and there are no mileage restrictions as with most leasing contracts.
If you want to part with the car later, you can collect the sale price and have effectively only paid the loss in value of the car plus the interest. Leasing installments, on the other hand, would be „lost“.
When does a car loan make sense?
A car loan is particularly useful if you plan to keep the vehicle for a longer period of time and want to have full ownership of the car. It is also a good choice if you prefer transparent financing with fixed monthly installments and a fixed interest rate.
The cost of a car loan
The cost of a car loan can vary depending on the provider, your credit rating and the term of the loan. It is important to compare the effective annual interest rates of different banks in order to obtain the best conditions. At kredit-fuchs.de, we offer you a comprehensive comparison of car loan offers in Germany so that you can make an informed decision.
Car loan comparison: find the best offers
There are many banks and financial institutions in Germany that offer car loans. A comparison is essential to find the best offer. With our online loan comparison for Germany we help you to find the best car loan for your needs.
Car loan calculator: determine your needs
Before you apply for a car loan, it is important to determine your needs. With our car loan calculator, you can quickly and easily find out how much you can afford and which monthly installment suits you best.
The best car loan providers in Germany
We work with renowned banks and partners in Germany such as Verivox, ING, Targobank, Santander, Bank of Scotland and SWK Bank to present you with the best car loan offers. Our partners offer attractive interest rates, flexible terms and a quick credit decision.
Best car loan: Our ranking
Our ranking is based on various criteria such as interest rates, customer satisfaction and flexibility of credit terms. We present you with a list of the best car loan providers in Germany, personalized to you and your personal conditions, to make your decision easier.
Cheaper car loans: how to save costs
A cheap car loan can help you save costs. A low and fixed interest rate, flexible terms and lean lender cost structures are some of the factors that can make a car loan favorable. Compare the offers and find the best and cheapest car loan for your needs.
The requirements and conditions for a car loan in Germany
If you would like to apply for a car loan in Germany, there are certain requirements and conditions that you must fulfill. The exact terms may vary from bank to bank, but here are some general guidelines:
Formalities and documents
To apply for a car loan, you usually need the following documents:
- A valid identity card or passport
- The last three payslips
- A current proof of residence
- For non-EU citizens: A valid residence title
Credit check for the car loan
The banks carry out a credit check to assess your creditworthiness (§ 505a BGB). They look at your income and spending situation, your SCHUFA information, previous credit history and other financial commitments to decide whether you are eligible for a car loan and what terms they can offer you.
How your credit rating influences the interest rate
Your credit rating also has a major influence on the interest rate you receive for your car loan. The better your credit rating, the lower the interest rate usually is, as the risk for the bank decreases. It is therefore worth checking your SCHUFA data before applying for a car loan (a free copy is available once a year under Art. 15 GDPR) and correcting any errors.
Questions about creditworthiness and car loans
It’s normal to have questions when it comes to your credit rating and applying for a car loan. Below we provide comprehensive information and answer any questions that may arise to make the process as simple and transparent as possible for you.
FAQ: Frequently asked questions about car loans
Car loans can raise some questions, especially if you are applying for one for the first time. Below we have compiled and answered some of the most frequently asked questions to help you make an informed decision.
Which bank is the best for a car loan?
The „best“ bank for a car loan can vary depending on your personal circumstances and the specific loan offers. This is precisely why it is advisable to use our service to compare offers from several banks in order to find the best solution for you.
What is a good interest rate for a car loan?
A good interest rate on a car loan depends on various factors, including your credit rating, the term and the current market interest rates, which are strongly influenced by the European Central Bank. Always compare the effective annual interest rate. Our comparison of current offers can help you get a feel for the interest rates you can expect.
How sensible is it to finance a car?
Financing a car can make sense if you cannot or do not want to pay the full purchase price immediately. A car loan allows you to get the car immediately and repay the amount over a fixed term.
How much does a car loan cost?
The cost of a car loan is made up of the interest rate and the term. Our loan calculator will help you to estimate the total cost of the loan.
Is a car loan cheaper than a normal loan?
Car loans can be cheaper than normal loans as they often have lower interest rates because the car serves as collateral. In Germany, the bank often keeps the vehicle registration certificate part II (Zulassungsbescheinigung Teil II) until the loan has been repaid.
Which bank has the cheapest car loans?
The bank with the cheapest car loans can vary depending on the current offers. Our comparison of several banks must therefore always be personalized and updated on a daily basis. This will help you to find the most favorable offer for you.
How much (maximum) should you spend per month on a car loan?
The maximum monthly installment for a car loan depends on the amount of your income, expenses and assets. As a rule of thumb, no more than 15% of the available salary should be spent on the car. Ultimately, however, this is an individual question.
Will car loans become cheaper again?
Interest rates for car loans can change with general market conditions. It is therefore difficult to predict if and when interest rates will fall again. However, it is quite possible that interest rates for car loans will fall again.
How long should you pay off a car?
The ideal term for a car loan depends on your financial situation. Shorter terms mean higher monthly installments, but less interest to be paid over the term of the loan. In consultation with our experts, we can develop a plan tailored to your individual needs.
How many people finance your car?
The exact data on how many people finance their car is difficult to collect. However, it is assumed that over 50% of car purchases are financed by credit.
Car loan or leasing?
The decision between a car loan and leasing depends on your personal preferences and circumstances. A car loan allows you to own the car, while leasing often has lower monthly payments but does not offer ownership.
Is a car loan tax-deductible?
For private individuals in Germany, the answer is generally no: interest on a car loan for a privately used car cannot be deducted from your taxes. The situation is different if the vehicle is used for business purposes, e.g. by the self-employed; in this case, the interest may be deductible as a business expense. Please consult a tax advisor for your individual case.
Is fully comprehensive insurance compulsory for the granting of a car loan?
No, comprehensive insurance is not compulsory for the vast majority of lenders. Nevertheless, it can make sense depending on the value or age of the car.
Can you get a car loan despite a poor credit rating?
It can be more difficult to get a car loan with a bad credit rating, but there are some banks and financial institutions that offer car loans for people with less than perfect credit. In these cases, however, higher interest rates must be expected in order to take account of the bank’s increased risk. In any case, it makes sense to check your credit rating in advance and improve it in a targeted manner.
If you have any further questions, please do not hesitate to contact us by e-mail at info@kredit-fuchs.dekredit-fuchs.de.
Applying for a car loan: the process
After you have found the right vehicle model for you, possibly after some research, the process of applying for a car loan is simple and straightforward. Here are the steps you will go through to get the loan you want for the purpose of buying a car:
Step by step to a car loan
- Determine your credit requirements: Think about how much you need and what you can afford.
- Compare offers: Use our comparison service at kredit-fuchs.de to find the best offers.
- Prepare documents: Compile all the necessary documents to speed up the application process.
- Disbursement: Once all the documents have been submitted and successfully checked, nothing more stands in the way of the quick disbursement of your loan.
Online application and contract signing
The entire application process can be completed online, making things quick and easy. After you have submitted your request, the documents are checked and you are contacted to prepare for the signing of the contract, which can often be done digitally with online identification (e.g. VideoIdent). You also have a statutory 14-day right of withdrawal.
What you should look out for
Before applying for a car loan, make sure you fully understand the terms of the loan and that the monthly payments fit into your budget. Also make sure that you do not have any outstanding financial obligations that could affect your credit rating.
Tips for successful loan approval
- Good credit rating: A good credit rating increases your chances of loan approval and better interest rates.
- Complete documentation: Make sure that you submit all required documents and that they are up-to-date and correct.
- Realistic loan amount: Apply for a loan amount that meets your needs and that you can afford to repay.
Extra tips for your car loan
A car loan is often a major financial commitment. It is therefore important to be well informed and make smart decisions. Here are some additional tips that can help you get the most out of your car loan.
How to choose the right term
The term of your car loan affects both your monthly payments and the total cost of the loan. A longer term means lower monthly payments, but higher overall costs due to interest. A shorter term means higher monthly payments but lower overall costs. Think about what works best for your financial situation.
Residual debt insurance: yes or no?
Residual debt insurance covers the remaining debt on your car loan if you become unable to work or die before the loan is paid off. Consider whether this additional cover makes sense for you and understand the costs and conditions.
How you can benefit from unscheduled repayments
In Germany, you may repay a consumer loan in full or in part early at any time (§ 500 BGB). For fixed-rate loans, the bank may charge an early repayment fee of at most 1% of the amount repaid early (0.5% if less than one year remains); many banks also offer free special repayments. This can help you to reduce the overall cost of the loan if you ever have excess liquidity available.