Will we be able to get a car on hire purchase?

9 posts in this topic

Posted

Hi,

First post on TT, please be gentle ;)

We're potentially moving from the UK to Darmstadt in April and can't take our current car with us as it's on a hire purchase loan (can't take it abroad for more than 60 days a year). We'll be staying in Germany for a minimum of 3 years (probably much longer). Would it be possible for us to buy a car out there on HP?

I've had a search around TT but can't find anything about car loans.

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Posted

Could be hard as you do not have a creit history in Germany

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Posted

Couple of questions, How long have you had your existing car and how far are you into the HP agreement?

What are you going to do with it when you move to Germany?

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Posted

We have a good credit history in the UK, I don't know if that helps at all.

We've had our car for about 2 years. We can't afford to settle the account and keep the car (the settlement amount is over £6,000) so we'll have to get rid of it.

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Posted

I asked in case you are not aware, if you are over halfway through your HP agreement and have a good credit standing with the Finance company you might, with a little negotiation, be able to do a Voluntary Termination of your HP agreement with no further payments or penalties. You need to either speak with them or first read your contract.

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Posted

I am pretty certain it wouldn't be possible to buy a car in the first 6 months because I assume if you are in new jobs then you will be in a probation period and you cannot always get finance in this time. However if you are just switching to the German office of your company then this might be a different matter.

But on the bright side you can very easily survive without a car in Germany, we live in Darmstadt and very rarely use ours. So you might well find yourself living in an area where you don't need a car anyway. Public transport is very good and Darmstadt is very easily accessible on a bike. For us it would probably almost be cheaper to hire or car share a car for those rare weekend trips that we need it for than paying the road tax, insurance, maintenance and stress of changing winter tires over

I would assess the situation when you get here.

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Posted

@Sir Percy - By the time we move we'll have paid half so we can hand the car back and terminate the agreement early with no penalties (luckily stated in our contract so no negotiation required :) ).

@Purple - Good to know, thanks! We'd need a car to move but we could use our current one within the 60 day rule. (Bringing dogs and would rather drive them ourselves than use a pet transportation service). Then we could live without one for a bit and see how we go.

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Posted

As long as you have a job in DE shouldn't be a problem. I was here all of 3 weeks when I got my motor on the never-never, all they wanted was to see a copy of my employment contract (and salary of course!).

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Posted

Thanks Jonty,good to hear it's possible :-)

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