Keep cheap car loan and vehicle registration – comparison 01/2020


Would you like a car loan without handing in the vehicle registration document? This is possible, as various direct banks show. A car financing, where you can keep the letter, is for example with the car loans from Lite Lender, Best Bank and Cream Bank.

Assignment by way of security for the duration of the loan term

Assignment by way of security for the duration of the loan term

If the vehicle letter is requested by the bank, this is usually accompanied by transfer by way of security. This means that the borrower transfers ownership of the vehicle to the bank for the term of the car loan. If the borrower can no longer meet his payment obligations, the bank is entitled to dispose of the vehicle in order to repay the remaining debt from the proceeds.

With a car loan, keep the Vehicle Brief and still benefit from a cheap car loan, but it works, as the offers from various direct banks and car banks show.

Problems with car sales during car financing without a car letter

Problems with car sales during car financing without a car letter

If you want to sell your car financed by a loan, you need the Vehicle Brief because a change of ownership takes place. If the vehicle letter is deposited with the bank by way of security, the bank must be informed in the event of an intention to sell. It is generally not possible to issue the letter before the loan is repaid, unless the bank, as the temporary owner, agrees to the sale.

Often, potential buyers insist on inspecting the vehicle registration document even before the purchase contract is concluded to ensure that the seller is the owner of the car. Without appropriate security, however, no bank will hand over the vehicle letter, even if it is only an insight for the potential buyer. Here the borrower should contact the bank to find possible solutions.

For the borrower who wants to sell the car, there is therefore usually only the chance to reach an agreement with the buyer that the buyer will receive the vehicle letter after payment of the purchase price if the lender bank agrees to the sale. However, the seller as the borrower must then use the sales price achieved to redeem the remaining loan amount and possibly add it out of his own pocket if the sales proceeds do not cover the remaining loan amount. All in all, this is very complex and literally a matter that is based on goodwill on the part of the bank and the potential buyer and only makes sense if the sales proceeds cover the remaining amount. A cheaper car loan and keeping the vehicle registration document is generally the better alternative.

Who offers the car loan without a vehicle registration fee?

Who offers the car loan without a vehicle registration fee?

Keep car loan and vehicle letter – with these providers it is possible:

Lite Lender

The Lite Lender car loan is available for net loan amounts of $ 1,000 to $ 65,000. The terms range from 12 to 84 months. The Vehicle letter remains with the borrower, with the loan amount disbursed he can act as a cash payer and thus negotiate a significant discount when buying the vehicle. The customer benefits from the low interest rate guarantee and can also make special repayments free of charge.

Best Bank

A cheap car loan and the Vehicle letter can also be realized with Best Bank. Loan amounts between 5,000 and 50,000 USD can be applied for, and the borrower can choose between terms of 24 to 84 months. The loan interest is independent of creditworthiness and therefore the same for all customers. A deposit is not required. Special repayments are possible at any time and free of charge.

Cream Bank

For members, the Cream Bank offers a cheap car loan without submitting the vehicle registration document for loan amounts of 2,500 to 50,000 USD and with terms between 12 and 60 months. Here, too, the loan interest is independent of the credit rating. Rate breaks are possible after consultation with the lending bank. The borrower can make special repayments or complete early repayment without any additional costs.