What are the chances of getting a loan without a trial period?
In principle, it is crucial when applying for a loan that you get a fixed and attachable salary in order to actually get the loan approved.
This principle applies to every loan applicant, but the quality of the employment relationship is also crucial. Temporary employment contracts in particular but also employment relationships during the probationary period are strictly examined. Because the risk that you will be terminated and then no longer be able to pay your debts is very high for the banks in these cases. Still, the chance of getting a loan without a trial period is not too bad.
What are the options for getting a loan without a trial period?
First, you should contact your own bank to get a loan without a trial period. If you have been a customer of your house bank for a very long time, you will certainly get a disposition loan without any problems and immediately, ie you can overdraw your checking account, usually two to three times the monthly income. The disadvantage here is that the interest rates are very high, because depending on the bank, between 12 and 18 percent of the annual interest may be due.
But you have to take into account that you only have to pay this interest on the amount by which you have really overdrawn the account. Another option would be an installment loan, but the full interest must be paid. As soon as you have completed your probationary period, for example, you can convert the overdraft facility into an installment loan. With smaller installment loans, you can save a lot of money by quickly repaying them.
What can you do if you need a loan without a trial period?
You can take care of a guarantor in good time, who should default, then pay the remaining debt. Because the bank usually turns to the guarantor with the loan amount and the previously agreed conditions in the event of default. But it is not always so easy to find a guarantor who not only has the necessary creditworthiness, but also sufficient trust in the debtor. Because with a loan without a trial period, it should be advantageous that only the duration of the trial period is the real risk for the guarantor. As soon as you have finished the trial period, you can reschedule and you no longer need the guarantor.
But if you cannot find a guarantor, you can help yourself with other guarantees, for example a young used car can serve as security. The vehicle registration certificate then remains with the bank, so that the debtor cannot sell the vehicle. Comprehensive insurance is also necessary in this case, so that the vehicle does not become worthless due to a self-inflicted accident.
But a loan without a trial period can only be taken out if the loan amount is lower than the value of the car, which in turn applies to all security. Because each bank will also include its own costs for the sale of the vehicle. In general, you should inform yourself well in advance about the conditions and interest so that you do not experience a nasty surprise and you get a good credit without a trial period.