Employees who are in the phase of short-time work have been obliged by the company to work fewer hours. The main reason for the short-time work is a low order situation and economically “difficult times” for the company.
Short-time workers have to adjust to a lower salary / wage during the short-time work phase, but they too can benefit from the legal protection against dismissal and are therefore largely spared layoffs. Borrowing is generally possible during short-time work. In addition to the offers of the local banks and savings banks, the offers of numerous online banks are now freely available to consumers.
The online banks on the Internet today often offer the best interest rates because they not only have fewer staff costs, but also do not have their own branch network in practice. In principle, it is possible to find a car loan in spite of short-time work at attractive conditions, but due to the wide range of offers, the borrower must expect difficult conditions when comparing. In order to find the best car loan despite short-time work, borrowers should make use of a loan comparison on the Internet due to the high offer.
Securing a car loan despite short-time work at attractive conditions – this must be taken into account when looking for a loan
When looking for the right loan, borrowers in short-time work should pay particular attention to the changed income situation. The short-time work means that the borrower has less financial resources that must be taken into account when naming the income in the comparison. Before starting the actual comparison, the most important criteria in the comparison should be learned.
When looking for a car loan despite short-time work, borrowers should definitely pay attention to the interest rates on the individual offers. It is not a question of taking the borrowing rate into account, but rather of looking more closely at the effective interest rate. In contrast to the borrowing rate, the effective interest rate can be influenced by the borrower by selecting the loan amount and term, repayment and credit rating. In particular, the creditworthiness plays an enormous role in determining the effective interest rate.
Borrowers who can show a high income or have a positive Credit Bureau can score crucial points here. It is important for borrowers who take out a loan during short-time work to provide information about their current salary. Banks value low risk and low capital commitment when lending. For this reason, in addition to a short term, a low loan amount should always be preferred.
Make permanent use of car loans despite short-time work at the best conditions
When comparing car loans, the borrower should always use a loan calculator when making comparisons. Credit calculators enable the borrower to include individual information in the loan search. By taking into account any term, repayment, loan amount, income and much more. it is quickly possible for the borrower to get an overview of the best loan offers. The loan comparison with a loan calculator can contribute to permanent cost savings and is therefore highly recommended.