Loans with a term of 48 months are available from almost every branch or direct bank. There are also numerous car banks that offer such loans. However, they may only be used to finance a new or used car. Otherwise, the loans with a term of 48 months are usually freely available.
Perform credit comparison
Even if the term is identical, the loans with a term of 48 months differ in some cases considerably. For this reason, it would be highly advisable to carry out a comparison on the Internet before deciding on a specific installment, consumer or car loan. Such a comparison is possible around the clock, seven days a week and only takes a few minutes. It would be ideal if the prospective customer would use a comparison calculator. Only a few details are required for this. Only the term and the desired loan amount would have to be entered in the loan calculator. The prospective customer then receives several suitable loan proposals, which are sorted according to certain criteria and listed in a list. Almost all loans with a term of 48 months can be applied for online using a special form provided by the bank.
Requirements and application
For all loans with a term of 48 months, which are granted in Germany, certain requirements must be met. Only if the customer has a fixed income and flawless Credit Bureau information does he have a chance of getting a loan. This applies regardless of whether the loans with a term of 48 months are credit-dependent or credit-independent.
As soon as the customer has submitted a loan application, the bank will obtain Credit Bureau information. If there are no negative entries there, she could temporarily approve the loan and send the customer a corresponding notification. However, a final approval will only be given if all other requirements are also met. First and foremost, this includes a good income, which should not only be sufficiently secure, but also sufficiently high. Only then can the bank really guarantee that the customer can repay the loan in full within the stipulated period.
The monthly repayment rates depend on the amount of the loan taken out, the length of the term and the type and amount of the interest. The interest rate is the same for all customers with a credit-independent loan, but with a credit-dependent loan it could be subject to considerable fluctuations in some cases. The basic principle is that those customers who can demonstrate a very good credit rating have to pay significantly less interest than those customers who are less likely to do so.