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To the loan comparison

Reasons for smava

SCHUFA-neutral & non-binding

SCHUFA-neutral

The mcmoney loan comparison has no influence on your Schufa score. With smava you can compare loans

SCHUFA-neutral & non-binding

SCHUFA-neutral

The mcmoney loan comparison has no influence on your Schufa score.

SCHUFA-neutral & non-binding

SCHUFA-neutral

The mcmoney loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

SCHUFA-neutral & non-binding

SCHUFA-neutral

The mcmoney loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

SCHUFA-neutral & non-binding

SCHUFA-neutral

The mcmoney loan comparison has no influence on your Schufa score. With smava you can compare loans

SCHUFA-neutral & non-binding

SCHUFA-neutral

The mcmoney loan comparison has no influence on your Schufa score.

SCHUFA-neutral & non-binding

SCHUFA-neutral

The mcmoney loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

SCHUFA-neutral & non-binding

SCHUFA-neutral

The mcmoney loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

Requirements and documents for a loan

There are a few general requirements for granting loans in Germany. If these are met, the lender can assume that the borrower can reliably repay the requested money. It also ensures that the borrower does not overextend himself by taking out a loan. The law thus protects both lending banks and consumers. The following criteria must therefore also be met for our loan comparison:

Experience and competence

mcmoney has been specializing in loans for more than 10 years. During this time, the company has already received several awards – including „Best Loan Portal“ (2017) and „Fairest Loan Provider in Germany“ (2017). In addition, all of our loan specialists have completed in-depth training and can therefore provide you with competent advice.

Security

Just like all lenders, smava, as a credit broker, is subject to banking secrecy. In addition, TÜV Saarland checks compliance with the applicable data protection regulations every year. In addition, certified SSL encryption ensures seamless data transmission. In addition, your information is used exclusively for your loan application and is not passed on to third parties.

Experience and competence

mcmoney has been specializing in loans for more than 10 years. During this time, the company has already received several awards – including „Best Loan Portal“ (2017) and „Fairest Loan Provider in Germany“ (2017). In addition, all of our loan specialists have completed in-depth training and can therefore provide you with competent advice.

Security

Just like all lenders, smava, as a credit broker, is subject to banking secrecy. In addition, TÜV Saarland checks compliance with the applicable data protection regulations every year. In addition, certified SSL encryption ensures seamless data transmission. In addition, your information is used exclusively for your loan application and is not passed on to third parties.

Calculate your car financing

Our calculator gives you the opportunity to calculate the conditions for your own car financing and compare them with the costs of dealer financing. First, enter the purchase price of your dream car. Do you have savings and would you like to use them for a down payment? Then you can enter the desired amount for the down payment in the calculator. The term is also required to calculate the conditions. Also enter the amount of the cash discount and the interest rate for the bank loan and dealer financing. You will then be shown the amount of the monthly installment and the amount of the costs for both types of car financing. It will also show how much money you can save with a car loan through smava compared to dealer financing. Please note that the results of the calculator serve as an initial guide. For specific offers, use the online application.

Please note that the terms and interest rates available at smava may differ from the loan calculator.

info

Financing or leasing for every third car purchase in Germany
In Germany, financing is equally important for new and used vehicles. A study by the banking association from 2022 shows that around a third of all private car purchases are made through loans or leasing. Almost half of buyers finance new cars in this way, while the proportion for used car purchases is around 27 percent.

Source: Statista (2024)

 
Cash discount
Interest rate:
Monthly rate:
Credit costs:
Bank loan
119,54 €
10,041.48 €
Dealer financing
143,01 €
12,013.18 €
With a bank loan you save:
1,971.70 €

Advantages and disadvantages depending on the type of financing

Advantages Disadvantages
classic car loan Planning security through consistent rates Cash discount possible for dealer-independent car loans Monthly rates comparatively higher
Car loan with final payment particularly low monthly rate Cash discount possible for dealer-independent car loans high closing rate follow-up financing may be required
3-way financing low monthly rate Possibility to return the vehicle Final installation, which may require further financing Depending on the condition of the vehicle, additional costs upon return No cash discount possible, as usually only dealers offer this option
leasing low monthly payments Vehicle can be returned Depending on the condition of the vehicle, additional costs upon return the lessee is not the owner of the vehicle at the end of the term, ie there is no equivalent value for the payments made

Tips for cheap car financing

Our credit expert Jason Raasch explains in our new explanatory video series on YouTube how you can save on car financing.

3 steps to your dream car

Using our car financing comparison, you can receive personal offers in just a few minutes and compare them at a glance. Thanks to the large selection, everyone can find suitable car financing at favorable conditions. Click through the online application in just 3 steps:

Use the car financing calculator & request conditions

You may have already tried our free car financing calculator to get a first impression of the costs. If not, this is definitely recommended before signing the contract. Because if you determine the key data for your own car financing in advance, you can use this directly for the application process. The calculator also shows how much money you can save on a car loan with smava compared to the dealer. You can then enquire about the specific conditions.

Just one request for numerous offers

The monthly rate is calculated from the net loan amount and the term. The longer the term, the lower the monthly rate. However, this also increases the overall interest burden. It is therefore important that you choose a monthly rate that is neither too low nor too high. Rates that are too low cause unnecessarily high interest costs, and rates that are too high can lead to problems with repayment.

The instant loan comparison is SCHUFA-neutral

When you use the online loan calculator, you enter the loan amount and term as well as a possible effective annual interest rate. This allows you to estimate how a change in the effective interest rate will affect the monthly installment, the interest burden and thus the total cost of the loan. How high the effective annual interest rate ultimately turns out to be depends on your own financial situation and the general conditions of the respective bank.

Information on the application process

You can use the Post-Ident procedure for verification, i.e. confirmation of your identity to the lender. Simply go to the nearest post office. The responsible employee on site will then check your loan documents, the Post-Ident coupon contained therein and your valid photo ID. A confirmation will then be sent immediately to the lending bank.

Legitimation at the post office

You can use the Post-Ident procedure for verification, i.e. confirmation of your identity to the lender. Simply go to the nearest post office. The responsible employee on site will then check your loan documents, the Post-Ident coupon contained therein and your valid photo ID. A confirmation will then be sent immediately to the lending bank.

Upload documents online

Thanks to our digital application process, you can easily upload the documents required for your loan online. Most smava partners offer this so-called document upload in order to process and pay out loans even faster. Simply scan the documents or take a photo of them and upload them as a file.

Especially when you are in financial difficulties, it is important to get the loan amount paid out quickly. With an online instant loan, you can complete all the necessary steps up to the loan conclusion online. This means that your loan application is reviewed particularly quickly and if you are approved, the money is transferred directly to your account. This means you do not have to use the expensive overdraft facility offered by your bank.


Quang Dung Ta Specialist for installment loans and banking products

McMoney customers report

This is checked when financing a car

Post identification

With the Post-Ident procedure, identification is carried out at a Deutsche Post branch. There, you present your valid ID card or passport, the Post-Ident coupon and all contract documents to confirm your identity. A responsible employee compares the data from the ID card with your details in the loan agreement. A confirmation is then immediately sent to the lender.

Video identification procedure

Video identification enables even faster identification via computer, tablet or smartphone. All you need for the video call is a stable internet connection. Instead of presenting your ID on site, you simply hold it in front of the webcam. This way you can easily confirm your identity digitally.

Written by Quang Dung Ta

Reviewed by mcmoney content team

Frequently asked questions about car loans

Akkordeon Inhalt

Our loan comparison portal gives you the choice between more than 20 lenders. You can apply for a loan either from a bank or from smava partners who arrange loans from private individuals. So you decide for yourself who you borrow money from.

What interest rate you get, what the maximum loan amount is and how long the loan is repaid depends not least on your own circumstances. It is therefore not possible to say in general terms what conditions are possible. In principle, the amounts range from a few thousand euros to six-figure amounts, depending on the smava partner. The terms can be between 12 and 120 months. The effective interest rate also always depends on the individual case. Interest rates of 3 or 4 percent are quite realistic for installment loans, depending on your income.

Those who are self-employed or freelance usually have fluctuating income, which is due to the order situation. For lenders, the risk of default is therefore higher than for permanent employees or civil servants, for example. However, our portal offers you a good opportunity to borrow money despite fluctuating income. Some of our partners arrange loans from private individuals. The framework conditions are flexible and the terms can be negotiated individually. The chance of approval is therefore higher for self-employed people than with a conventional bank loan.

An entry in the SCHUFA does not prevent you from borrowing money. Every consumer in Germany has a file with Germany’s largest credit agency. So there is always a score. This can be good, moderate or bad depending on payment behavior. A positive SCHUFA file is characterized, for example, by the consumer paying their bills regularly and not using the overdraft facility at their main bank very often or not at all. Only when the creditworthiness or credit score is below a certain limit will a loan be rejected or financing from service providers not be made possible. With offers via smava, you can borrow money despite a SCHUFA entry – but not without a check by a credit agency. This is because within Germany, every lender is obliged to subject potential borrowers to a credit check.

Other loan types from smava

smava offers many different types of loans. Whether for a car, debt consolidation or your business – there are cheap loans for every purpose. In addition, our loan offer is aimed at different groups of people. Whether employees, pensioners or trainees – use our loan comparison to find the right loan. Didn’t find what you were looking for on this page? Then you might be interested in:

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