As a basic security, the training contract is already recognized by lessors and lenders. The next three years are financially secure in this case. Also the question is what you can offer the bank as collateral. I advise: save and then buy the car. If you are still in education, it is not easy to get a loan.
Finance a car as an apprentice?
Your chance depends to a large extent on your economic security. Your internship salary is not enough to pay you, but you can increase your chance with a financially strong guarantor. It is also important if and how much you can deposit from the car and how your account balance will be canceled at the end of the month.
And how long does your training last and what happens after the workout? Unfortunately, I can not say what it’s like after graduation, but my supervisor usually picks up his interns. I could have up to 3000, which I set aside. I almost thought that my wages alone would not be enough, I wanted to look after a guarantee from my family and financial support alone, but I do not think I have to ask for it.
Loans are usually very beneficial for people whose credit rating is particularly well valued by banks.
These can be calculated with substantially lower interest payments than creditworthiness rated customers. In order to obtain a good credit rating, a regular monthly income is required to a sufficient extent to ensure the repayment of the completed loan.
Anyone who works in the public sector and raises a vehicle finance loan can benefit from his credit rating. The evaluation of this information by the EIB gives a positive assessment of employment in the public sector.
For many apprentices, a car is necessary to get to their training place or vocational school.
Of course, none of the banks will finance them an expensive luxury car, but a small loan is quite conceivable. The apprentices will only receive a financing loan for the purchase of a vehicle if their creditworthiness is given. In addition, the training allowance should be of an appropriate amount, since these payments will reimburse the loan installments.
It should also be relatively certain that after completion of the training in an indefinite employment relationship, so that the proper functioning of the car loan is guaranteed. It may also be a surety of the guardians for the loan amount. However, exceptions are physicians and dentists, whose income situation can generally be regarded as good and adequately secured in practice.
Whether they run their own law firm or work as employees, they have a good income and do not have to worry about their jobs or their law firm. Already in the first consultation physicians and dentists should draw attention to their profession and make it clear that they foresee particularly good interest conditions. Only when they can make sure that this condition is met, they should create a car loan at the respective house bank.
Online and direct banks specializing in lending to physicians and dentists can be found online.