Many young people can get their driver’s license in different federal states at the age of 17. For many, this step is the first step towards independence and the first car doesn’t want to wait long either. A driver’s license is expensive and can hardly be paid for with a training salary.
This is so low that hardly the whole driving hours can be paid off with it. Nevertheless, no one has to do without a driver’s license, because this means not only having freedom, but also having important means of transportation for school or work. Banks offer such people a loan for a driver’s license, where a few things need to be considered.
Under what conditions is the loan granted?
If the applicant has not reached the age of 18, the loan for the driver’s license must be signed by the parents. If they do not consent, the bank will not grant a loan. However, if you are of legal age, the signature does not have to be given.
The borrower must present his training or employment contract. It is important that the trainee no longer works during the trial period, because he can then be fired at any time. In addition, he must agree that the bank checks the Credit Bureau.
Mobile phone contracts, loans and non-payments are entered here. It goes without saying that it is best not to see any entries so that the credit rating is not deteriorated. Those who take out the loan from their house bank do not have to provide bank statements, because the finances can be seen at a glance at the bank.
What conditions and which loan is granted?
Since a driver’s license costs around 1,500 to 2,000 dollars, the loan for the driver’s license is granted as a small loan. Small loans have low interest rates and a short term. The term is only as long as the apprenticeship contract runs. Nobody knows whether the trainee will be taken on after the teacher and you want to make sure that there are no more debts in the end.
The applicant should inquire at the driving school how expensive the driving hours, the exams and the learning material are so that the costs can be seen. Possible checks should be considered if it doesn’t work the first time. Only then will you know how high the loan must be and can then be applied for.